Is Your Foreclosure Moratorium Almost Up? Get Legal Advice.
When the COVID-19 (coronavirus) pandemic got underway in 2020, many Americans’ incomes and family routines were disrupted significantly. Many businesses had to shift gears and operate differently and/or close altogether. According to the Consumer Financial Protection Bureau (CFPB), more homeowners fell behind on their mortgages than at any time since the Great Depression of the 1930s.
In response to the widespread hardships, the federal government announced a national moratorium on foreclosures. Mortgage holders also had potential forbearance relief available through provisions of the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act.
Many families, individuals and businesses have remained in properties thanks to these government programs although they would otherwise not have been able to keep up with their mortgages. If your foreclosure moratorium has ended or is about to end and you still cannot catch up on arrearages, you need legal advice as soon as possible. At Mark Sank & Associates, LLC, we are well positioned to help you discover and pursue the best path forward that will allow you to keep your property or sell it in your best interests.
Know Your Rights And How To Protect Them
Have you been unable to make normal mortgage payments for months? Deadlines may have already passed or may be passing soon by which you might seek to prevent foreclosure. Attorney Mark Sank and our entire team are ready to prioritize your case and help you protect your financial future.
A detailed, personalized review of your situation should be an urgent priority for you if you are concerned about the possibility of foreclosure. You may be eligible for an extension of COVID-19-related forbearance on your mortgage arrears, but you need to ask for it. An extension will not be automatic.
Some experts advise people at risk of foreclosure to sell while the real estate market is hot and before they are actually targeted for foreclosure. This is not what most people prefer to hear, but it is important to understand your current status and options so that you can make the right decisions at the right times.
Step One: Get Legal Advice Soon Rather Than Procrastinate
To schedule a free initial 30-minute consultation with an experienced, accomplished real estate attorney, call 203-967-1190 or 800-785-9702 or complete an online inquiry form with no further obligation.
We are ready to help you discover the best course of action if the threat of foreclosure looms on the horizon for you.