Did you get furloughed recently and find yourself tossing and turning all night because of missed mortgage payments? Millions of Americans are overburdened with the thought of not being able to pay their bills.
Don’t take the stress now and act later route. Contact your private or federal provider and inquire about mortgage relief options.
Foreclosure Suspensions
The Cares Act provided no foreclosures on Fannie Mae or Freddy Mac loans until at least Aug. 31. Call your lender directly to find out what your loan qualifies for.
Mortgage Forbearance
The Cares Act also allows mortgage payment forbearance for up to 12 months for all federally insured mortgages. Make sure to request this before December 31, 2020, and gather enough evidence to prove that the pandemic affected you financially.
Private Lender Programs
Although private banks/lenders are not mandated to comply with the Cares Act, many have their own private loss mitigation programs and/or COVID Relief options right now. We encourage you to call your lender and get informed on what type of relief options they have available for you.
