Many Americans are losing their jobs due to COVID-19. But when you have rent payments to make or a mortgage to pay, the stress can be unbearable.
States have taken it upon themselves to create support for renters and property owners to ensure they will be able to stay in their homes during this uncertain time. But what if your lender or landlords try to evict you anyway?
What if your rights have been violated as a result of COVID-19? You deserve justice. And we can help.
Leases And Rent During COVID-19
Across the nation, landlords and tenants are concerned about being able to stay in their apartment. For tenants, it’s a worry of being able to afford rent due to mass lay-offs as a result of COVID-19. For landlords, they worry about making mortgage payments and property taxes without the stream of rent.
While states have taken it upon themselves to create legislation to ensure no one is evicted during this troubling time, the long-term effects of COVID-19 are still looming.
The U.S. Department of Housing and Urban Development has compiled information for renters and landlords to ensure that there are resources available.
But what if your landlord goes against state mandates and evicts you for not paying rent?
You have rights. Let us protect you during this tumultuous time.
Foreclosures during COVID-19
In some states, if a landlord cannot evict you, should a bank be able to foreclose on your home during a pandemic?
We urge you that if you cannot make mortgage payments, you must call your bank prior to stopping payments. It is difficult to receive assistance once you have already missed payments.
In addition, some lenders offer forbearance options if you have federally-backed loans such as:
- HUD Reverse Mortgage
- Fannie Mae
- Freddie Mac
Essentially, a forbearance means your payments won’t be due until the end of the period which can be up to 12 months. While you still will owe your mortgage payments for that time, you won’t be charged penalties or late fees.
However, if you do not have federally-backed loans and only have private bank loans, contact them to see if they have COVID-19 protocols in place.
In addition, if you have a federally-backed loan like the ones listed above, you can’t have a foreclosure put against you at this time. Under the Federal CARES Act, foreclosures have been suspended from March 18 to May 17, 2020.
Right now, you are probably feeling fearful for the future. But do not let others financially benefit because of it. You have legal rights. Let us help you.
REAL ESTATE LITIGATION DURING COVID-19
As a homeowner or renter, you have rights. Don’t let another financially gain from your fear or lack of knowledge of the available resources out there. Contact us today. We have real estate attorneys throughout the country ready to help you.