For individual homeowners and renters nationwide, keeping up with housing payments has been a constant worry. At the start of 2020, mortgage delinquencies were at the lowest level in more than 40 years. In March, late payments skyrocketed in response to the pandemic, causing some mortgage companies to offer customers temporary relief.
The mortgage industry’s biggest trade and lobbying groups pushed the federal government for widespread relief for borrows affected by COVID-19. Mortgages backed by Fannie Mae, Freddie Mac or the Federal Housing Administration, are among those qualifying for relief. Other lenders may be offering similar relief for their borrows.
Specifically, Fannie Mae and Freddie Mac are offering mortgage forbearance to apartment building owners if they agree to not evict tenants who face financial hardships.
The Consumer Financial Protection Bureau (CFPB) has an extensive list of resources for homeowners, renters, and landlords. Many of the original programs for pandemic relief ended last year, but not all.
Our firm continues to investigating large corporations on behalf of consumers. If you or someone you know ends up being impacted by your mortgage company not following through on their announced procedures during COVID-19, Maginnis Law’s consumer law attorneys are here to help you.
Maginnis Howard’s consumer law attorneys have a passion for holding companies accountable. You can reach our firm by phone at (919)526-0450 or through our contact page.