Published On: May 2, 2020
CORONAVIRUS ASSISTANCE INFORMATION
July 11, 2019 – the following is information from the Federal Housing Finance Agency. FHFA is closely monitoring the coronavirus national emergency’s effect on the housing finance market and continues to update policies and guidance to ensure its regulated entities – Fannie Mae, Freddie Mac (the Enterprises), and the Federal Home Loan Banks (FHLBanks) – are fulfilling their mission of providing market liquidity during this difficult time.
I will post new information as I find more resources to assist homeowners and renters adversely impacted by COVID-19.
Help for Homeowners:
If your ability to pay your mortgage is impacted, and your loan is owned by Fannie Mae or Freddie Mac (use the “loan lookup” tools: https://www.knowyouroptions.com/loanlookup for Fannie Mae or https://ww3.freddiemac.com/loanlookup/ for Freddie Mac to find out), you may be eligible to delay making your monthly mortgage payments for a temporary period, during which:
- You won’t incur late fees.
- Foreclosure and other legal proceedings will be suspended.
- UPDATE: Federal foreclosure and eviction moratoriums have been extended until at least August 31, 2020 (as reported by Fannie Mae and Freddie Mac)
How to Apply for Mortgage Assistance
Help For Renters
If you are a renter and live in a rental unit financed by Fannie Mae or Freddie Mac, you have access to their respective Disaster Response Networks. These networks offer support from HUD-approved housing counselors, such as a personalized recovery assessment and action plan, financial coaching and budgeting, and ongoing check-ins. Contact your property manager to see if you are eligible. Fannie Mae’s renter hotline number is 1-877-542-9723 and Freddie Mac’s renter hotline number is 1-800-404-3097.
Tenant Notice for Postponement of Eviction
Fillable form and tips for tenants affected by COVID-19 to request a postponement of eviction from landlord.
CONSUMER FINANCIAL PROTECTION BUREAU RELEASES VIDEO ON HOW MORTGAGE FORBEARANCE WORKS UNDER CARES ACT
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) has released a video on how struggling homeowners can obtain mortgage forbearance if their finances are impacted due to the COVID-19 pandemic.
VIDEO: CARES Act Mortgage Forbearance: What You Need to Know
Guide to coronavirus mortgage relief options
What you need to know about student loans and the coronavirus pandemic
Online and mobile banking tips for beginners
Consumers can also visit consumerfinance.gov/coronavirus for up-to-date information and resources to protect and manage their finances.
Beware of Scams
During times of crisis, there is an increased risk of scams and fraud. Protect yourself by asking questions, reading the materials provided to you, and avoiding any solicitations requiring up-front cash payments. If you think you may have been a victim of a scam and your concerns with Fannie Mae, Freddie Mac, or a Federal Home Loan Bank involve fraud, please contact the FHFA Office of Inspector General (FHFA OIG) at 800-793-7724 or visit the FHFA OIG’s website.
Consumer Financial Protection Bureau: Beware of scams related to the coronavirus
Recognize and avoid COVID-19 scams and frauds.
Information regarding Coronavirus-related scams and consumer protection:
Federal Trade Commission: Avoid COVID-19 Scams
Reporting Coronavirus-related Scams
Information regarding reporting Coronavirus-related scams:
FTC: File a Consumer Complaint
Information regarding expanded Unemployment Insurance under the CARES Act
Information regarding applying for Unemployment Insurance
Families First Coronavirus Response Act: Employee Paid Leave Rights
Derechos del Empleado Sobre Licencia Laboral Pagada (facts regarding paid leave, in Spanish)
Information Regarding Filing a Complaint with the Department of Labor
Information regarding filing a complaint with OSHA
Guidance on Preparing Workplaces for COVID-19
Pasos que los empleadores pueden tomar para reducir el riesgo de exposición (information regarding protective steps, in Spanish
Information regarding filing a complaint with the Arizona Division of Occupational Safety and Health (ADOSH)
MUSINGS FROM DIANE:
About the Author: Diane Drain
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.*
“You folks are the BEST OF THE BEST in Arizona.” M.H.
You and Jay are the best attorneys I have ever had or needed and thank God for the Honorable Robert Gottsfield in recommending you folks – I would have never made it through the entire process without you and Jay and God Bless you both always and stay in touch as well. You folks are the BEST OF THE BEST in Arizona.
“My only regret is that I didn’t find Diane sooner.” K.H.
I can’t say enough good things about Diane. The way she handled my not typical circumstances was amazing. I was very nervous to start the bankruptcy process but Diane just has a very comforting way of explaining the whole process. My only regret is that I didn’t find Diane sooner. If you find yourself in a financial situation that you can’t correct on your own, please Call Diane Drain as soon as possible.
“Filing for bankruptcy can be a stressful life event” R.A.
Filing for bankruptcy can be a stressful life event, and selecting the right attorney can add to this stress. Diane and Jay were a pleasure to work with, and it is obvious that they are passionate about helping people get their life back on track. I would highly recommend them if you need a bankruptcy attorney.
Published On: February 23, 2022
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 [...]
Published On: July 29, 2021
CFPB Releases Online Tool to Help 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. [...]
Published On: July 16, 2021
Arizona Residential Eviction Actions Procedures – effective July 15, 2021 IT IS ORDERED that the following procedures are applicable to eviction actions governed by Arizona Revised Statutes, Title 33, filed [...]
Published On: May 16, 2021
There is so much mis-information about a 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 [...]
My intention is to put you back in control of your life
Start with $0 down*. We provide affordable payment plans.