2020 Foreclosure Legal Updates
2020 Legal Updates
2020 Legal Updates
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USDA Extends Foreclosure Moratorium for Single Family Housing Loans Through February 28, 2021
December 28, 2020. The USDA extended its foreclosure and eviction suspension for all Single Family Housing Direct and Guaranteed Home Loans to help rural homeowners affected by the coronavirus crisis.
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New York Passes COVID-19 Foreclosure Moratorium Law
December 28, 2020. A new law protects homeowners in New York against mortgage foreclosures, tax foreclosures, and tax lien sales until May 1, 2021.
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December 28, 2020. The Department of Veterans Affairs suspended foreclosures for properties subject to VA-guaranteed mortgages.
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Fannie Mac, Freddie Mac Issue COVID-19 PMI Termination Guidelines
December 9, 2020. If you want to cancel the private mortgage insurance on your Fannie Mae or Freddie Mac loan, a couple of late payments during the coronavirus crisis probably won’t hurt you.
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December 2, 2020. The Federal Housing Finance Agency has extended its foreclosure and eviction ban through January 31, 2021.
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Massachusetts Supreme Court Decides Standard Foreclosure Notice Isn’t Deceptive
November 25, 2020. The Massachusetts Supreme Judicial Court recently held that a foreclosure notice wasn’t deceptive or inaccurate, eliminating a potential defense to foreclosure for homeowners.
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Mortgage Assistance Program for Minnesota Homeowners Affected By Coronavirus
November 9, 2020. Minnesota’s COVID-19 Housing Assistance Program has $30 million to distribute to eligible homeowners affected by the coronavirus national emergency.
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California’s Foreclosure Protections Under the Homeowner Bill of Rights Extended to Small Landlords
August 31, 2020. A new law in California, AB 3088, gives foreclosure protections under the state’s Homeowner Bill of Rights to small landlords.
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HUD Extends Foreclosure and Eviction Moratorium for FHA-Insured Loans Through December 31, 2020
August 27, 2020. HUD has suspended foreclosures and evictions for FHA-insured mortgages, including reverse mortgages, through December 31, 2020, due to the coronavirus crisis.
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FHFA Extends Foreclosure and Eviction Moratorium for Enterprise-Backed Loans Until December 31, 2020
August 27, 2020. The FHFA has suspended foreclosures for enterprise-backed mortgages and stopped evictions on enterprise-owned properties until December 31, 2020.
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August 24, 2020. The Department of Veterans Affairs has extended its foreclosure moratorium for VA-guaranteed mortgages through December 31, 2020.
2020 Legal Updates
2020 Legal Updates
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HUD Announces Foreclosure and Mortgage Help for California Wildfire Victims
August 22, 2020. If you’re the victim of a California wildfire, you might be eligible for disaster assistance from the U.S. Department of Housing and Urban Development.
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Mortgage Assistance Program for Delaware Homeowners Affected By Coronavirus
August 10, 2020. Delaware’s Emergency Mortgage Assistance Program offers up to $5,000 to eligible homeowners affected by COVID-19.
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Trump Signs Executive Order on Foreclosures, Evictions
August 8, 2020. The president’s executive order doesn’t actually prohibit foreclosures or freeze evictions. So, what does it do?
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Mortgage Assistance Program for Montana Homeowners Affected By Coronavirus
August 6, 2020. If you've lost a job or experienced substantial income loss due to COVID-19, you might qualify for Montana’s Emergency Housing Assistance program.
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Mortgage Payment Assistance Program for Florida Homeowners Affected By Coronavirus
August 3, 2020. Florida is offering financial assistance to homeowners facing economic difficulties due to COVID-19.
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Mortgage Assistance Program for New York Homeowners Affected By Coronavirus
July 31, 2020. The state of New York is allocating $20 million to provide support to homeowners facing foreclosure.
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Mortgage Payment Assistance Program for Vermont Homeowners Affected By Coronavirus
July 13, 2020. Vermont is offering grants of up to three months' worth of mortgage payments to homeowners facing financial difficulties due to COVID-19.
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FHA Announces New COVID-19 Loss Mitigation Options for Mortgage Borrowers
July 8, 2020. FHA has expanded its loss mitigation options for homeowners affected by the coronavirus crisis.
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Mortgage Assistance Program for Pennsylvania Homeowners Affected By Coronavirus
July 7, 2020. Pennsylvania is offering grants of up to $1,000 per month for six months to homeowners with reduced incomes due to COVID-19.
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Mortgage Assistance Program for Massachusetts Homeowners Affected By Coronavirus
July 1, 2020. The Massachusetts Emergency Rental and Mortgage Assistance Program offers up to $4,000 to eligible low-income homeowners affected by COVID-19.
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Oregon Passes Mortgage Forbearance and Foreclosure Moratorium Law
June 30, 2020. A new state law in Oregon enables homeowners affected by the coronavirus national emergency to get a mortgage payment forbearance. The law also prohibits foreclosures during the emergency period.
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Mortgage Payment Assistance Program for New Hampshire Homeowners Affected By Coronavirus
June 30, 2020. New Hampshire offers up to $2,500 to homeowners affected by COVID-19.
2020 Legal Updates
2020 Legal Updates
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Mortgage Payment Assistance Program for Virginia Homeowners Affected By Coronavirus
June 29, 2020. A new program in Virginia provides $50 million in federal CARES Act funding for households facing foreclosure or eviction due to COVID-19.
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New York Passes Residential Mortgage Forbearance Law
June 17, 2020. A new state law enables homeowners with non-government loans who've been affected by the coronavirus to get a yearlong mortgage forbearance.
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Mortgage Assistance Program for Colorado Homeowners Affected By Coronavirus
June 9, 2020. Colorado’s Emergency Mortgage Assistance Program offers money to eligible homeowners affected by COVID-19 so they can make their mortgage payments.
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Mortgage Payment Assistance Program for Iowa Homeowners Affected By Coronavirus
May 29, 2020. Iowa’s new mortgage payment assistance program provides up to $3,000 to homeowners affected by COVID-19.
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COVID-19 Foreclosure Avoidance Program in Nevada
May 20, 2020. In response to the ongoing coronavirus crisis in this country, some states, like Nevada, have implemented foreclosure avoidance programs to help homeowners.
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Alaska Passes New Law Prohibiting Foreclosures During the Coronavirus Crisis
May 18, 2020. Alaska Governor Mike Dunleavy signed SB 241 into law, which imposes a foreclosure moratorium in that state. To get protection against a foreclosure, you have to provide your mortgage lender a sworn statement that you're experiencing a “financial hardship” due to the coronavirus outbreak.
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Vermont Passes New Law Prohibiting Foreclosures During the Coronavirus Crisis
May 14, 2020. Vermont lawmakers passed a ban on foreclosures, as well as evictions following foreclosures, during the coronavirus outbreak.
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Massachusetts Passes a Law Prohibiting Foreclosures During the Coronavirus Crisis
April 20, 2020. Massachusetts lawmakers have passed a ban on foreclosures, as well as evictions following foreclosures, during the COVID-19 outbreak.
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April 24, 2020. Many banks and credit unions in Rhode Island have agreed to a minimum 60-day foreclosure moratorium. They also agreed to suspend mortgage payments for residential borrowers.
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Coronavirus Foreclosure Protections and Mortgage Payment Relief for Michigan Homeowners
April 23, 2020. Many banks and credit unions have agreed to a 60-day foreclosure moratorium and a 90-day mortgage-payment suspension for Michigan homeowners.
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Virginia Passes New Law Allowing Homeowners to Delay Foreclosure During the Coronavirus Crisis
April 22, 2020. A new law in Virginia allows homeowners affected by COVID-19 to get a 30-day stay of foreclosure.
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Mortgage Payment Relief for District of Columbia Homeowners Affected By Coronavirus
April 10, 2020. The District of Columbia recently passed legislation creating a 90-day mortgage deferment program for residential and commercial mortgage borrowers.
2020 Legal Updates
2020 Legal Updates
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April 6, 2020. The California Judicial Council has approved new rules for the state’s courtrooms that include postponing judicial foreclosure proceedings and evictions.
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March 31, 2020. Banks agree to a 90-day forbearance on mortgage payments for homeowners in Connecticut who’re facing a hardship because of the coronavirus outbreak.
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March 30, 2020. Banks and servicers in Arizona have agreed to suspend residential foreclosures and evictions or at least 60 days.
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Mortgage and Foreclosure Relief Under the Federal CARES Act
March 27, 2020. The federal stimulus plan gives homeowners who have a “federally backed mortgage loan” the opportunity to get a forbearance and protects them from foreclosure.
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March 25, 2020. Banks agree to a 90-day grace period on mortgage payments for homeowners in California who’ve been financially hurt by the coronavirus outbreak.
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New York Amends Its Mortgage Servicing Laws to Add More Borrower Protections
March 17, 2020. New York’s amended mortgage servicing laws provide homeowners with additional protections against foreclosure.
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Foreclosure Notice Changes in Michigan
January 11, 2020. A new Michigan law requires additional information in a notice of foreclosure. But will these changes help you if you’re facing a foreclosure?
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Foreclosure Protection Law for Veterans Passes in Oregon
January 1, 2020. Foreclosure documents in Oregon must include helpful information for veterans.
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Changes to Oregon’s Judicial Foreclosure Laws
January 1, 2020. Oregon homeowners going through a judicial foreclosure will receive specific warnings about selling the home during the process.
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Mortgage Forgiveness Tax Break Extended Through 2020
December 20, 2019. A new law—the Further Consolidated Appropriations Act, 2020—includes tax relief for situations when a lender forgives mortgage debt.