04/03/2020
If youāre among those financially impacted by the coronavirus pandemic, you might be concerned about how to pay your mortgage or rent. Federal and state governments have announced plans to help struggling homeowners during this time. Read this to get information on what to do now, and what your options are for mortgage and rental relief.
A new federal law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, puts in place two protections for homeowners with federally backed mortgages:
1. A foreclosure moratorium
2. A right to forbearance for homeowners who are experiencing a financial hardship due to the COVID-19 emergency
If you donāt have a federally backed mortgage, you still may have relief options through your mortgage servicer or from your state.
Please stay safe. ,
If you canāt make your mortgage payments because of the coronavirus, start by understanding your options and reaching out for help.