Knowing your rights under the CARES Act and guidance from the US Department of Housing and Urban Development also can help you avoid mortgage relief scams. If you experience financial hardship due to the COVID-19 pandemic, you may have a right to temporarily pause or reduce your monthly mortgage payments through a forbearance. Servicers also may not be allowed to foreclose on your home. For more information on COVID housing protections and important deadlines, visit consumerfinance.gov/housing.
Knowing your rights under the CARES Act and guidance from the US Department of Housing and Urban Development can help you avoid mortgage relief scams. If you experience financial hardship due to the COVID-19 pandemic, you may have a right to temporarily pause or reduce your monthly mortgage payments through a forbearance. Servicers also may not be allowed to foreclose on your home. via @Consumer Financial Protection Bureau consumerfinance.gov/housing.
If you are behind on your mortgage due to the COVID-19 pandemic, beware of mortgage relief scams. There are free relief options that can pause or reduce your monthly mortgage payments and stop a foreclosure. If anyone tries to charge you in advance for help or guarantees that they can stop your foreclosure, they’re not legitimate. via @Consumer Financial Protection Bureau consumerfinance.gov/housing.
Thank you for your help in spreading the word. For more resources for you and your clients, we have tools and programs that encourage financial education and capability from childhood through retirement.
It is not enough that COVID has forced us to cut ourselves off from our family and friends (at least those who really care about their family and friends), but now con-artists have decided to scam homeowners who are having problems paying for their home during COVID. It is a fact that bad events bring out bad actors. After a tornado or other disaster thieves hit the streets ready to take naive homeowner’s insurance proceeds that are supposed to be used for repairing the house. Or some creep offers a miraculous cure for a deadly disease such as COVID or cancer (such as drinking bleach or some other crack-pot idea). All you have to do is give them your life savings.
Be very cautious when relying on advice from someone who stands to make money from your ignorance. Research, research and then research some more in order to find the truth. NEVER assume the best answer is on the Internet. Instead, talking with a professional who is experienced in the relevant area is your best option. The last step is to trust yourself – if it sounds to good to be true – then it is.
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
WHAT HAPPENS AT THE END OF A COVID-19 FORECLOSURE FORBEARANCE? Can servicers demand a large balance? Generally, the servicers should not be demanding full payment following a COVID forbearance. There [...]
CFPB Releases Online Tool Helps Renters and Landlords Access Federal Assistance New resource helps renters and landlords find state and local programs distributing federal rental assistance funds WASHINGTON, D.C. — July 28, 2021: The [...]
Forbearance of Home Mortgages During COVID-19 Know your options before making a decision not to pay your mortgage 11/18/21 UPDATE – see summary of foreclosure alternatives This chart provides a summary of relief [...]
CFPB Cracking Down on Mortgage Servicers Servicers Should Gear Up for Expected Surge in Homeowners Needing Assistance Warning to Mortgage Servicers (April 1, 2021 – reprint from CFPB) The Consumer Financial Protection Bureau [...]
We are a debt relief agency; we help individuals and small businesses through the bankruptcy process. Attorney Advertising. This website is designed for general information only. Any information you obtain from this website should not be construed as legal advice, nor as grounds for forming an attorney-client relationship. You should consult an attorney for information on obtaining formal legal advice.