COVID19 – IMPACT ON MORTGAGE PAYMENT
If you are struggling to make on-time monthly mortgage payments or have fallen behind on mortgage payments due to the COVID-19 crisis, you may be eligible for mortgage relief options recently enacted by Congress to protect homeowners. The CARES Act (Coronavirus Aid, Relief, Economic, and Security Act) was enacted to provide protection and relief for homeowners attesting a financial hardship caused by the COVID-19 crisis.
There are several programs available to homeowners facing economic hardship due to COVID-19. Many lenders have agreed to offer forbearance agreements, modifications and put a suspension on foreclosure activity. However, these programs are designed to be short term and do not always address the underlying issues causing the mortgage default. Further, the government mandated mortgage relief is only for federally backed mortgages. This leaves many homeowners outside the federally mandated guidelines for assistance. It is important to work with a law firm experienced in dealing with mortgage lenders and mortgage defaults.
Sternberg Law Group is a resource you can rely on in the mortgage relief sector and we are here to assist you in this time of confusion and anxiety. We continue to monitor the rapidly evolving COVID-19 virus and are committed to keeping clients informed on the latest information and resources as they become available.
If you are being adversely affected by COVID19, we strongly encourage you to document your financial hardship resulting from this outbreak. While we don’t yet know exactly what form of relief will become available, we know the banks and the courts will be offering multiple forms of relief. We want you to be prepared to receive assistance that becomes available and will advise you accordingly based on your specific situation.
Our office is in constant communication with the nation’s lenders and the court system and we are staffed to handle the increased demand for legal services. At Sternberg Law Group, we’re dedicated to sharing what we know, when we know it, and to providing guidance during this critical time.
If you would like to request mortgage relief, please contact us today for a free consultation.