Do you know your rights to mortgage forbearance and foreclosure protection under the Federal CARES Act? In this video, New Forbearance Update – Mortgage Forbearance and Foreclosure Protection I discuss your rights to mortgage forbearance, the foreclosure and eviction moratorium and the steps to request forbearance under the CARES Act. I also discuss the process of filing for a forbearance mortgage after recently refinancing or purchasing a new home.
Consumer Relief Guide – Your Rights to Mortgage Payment Forbearance and Foreclosure Protection Under the Federal CARES Act – https://files.consumerfinance.gov/f/documents/cfpb_csbs_consumers-forbearance-guide_2020-05.pdf
Fannie Mae Forbearance Call Script: https://singlefamily.fanniemae.com/servicing/covid-19-forbearance-script-servicer-use-homeowners
Freddie Mac COVID-19 Call Script: http://www.freddiemac.com/about/pdf/covid_19_forbearance_servicer_script.pdf
FHA COVID-19 Questions and Answers: https://www.hud.gov/sites/dfiles/SFH/documents/SFH_COVID_19_QA.pdf
VA Circular 26-20-12: https://www.benefits.va.gov/HOMELOANS/documents/circulars/26_20_12.pdf
when does the foreclosure moratorium end? As of now, the moratorium ends on Aug 31 2020.
can I be evicted for not paying rent? Yes but currently if are renting a property and haven’t been paying your lease or rent payment and the loan on the property is owned by Fannie Mae, Freddie Mac or FHA then you can’t be evicted until August 31st.
FHA Press Release – https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_081
I hope this housing market update provides you with insight on forbearance and what you should do if you can’t make your mortgage payment or are currently behind on your mortgage payments .
Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? Do you believe there is a foreclosure wave coming after the foreclosure and eviction moratorium ends? After watching this video, do you believe there is a real estate bubble or a housing market crash 2020 coming?
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