March 31,2020
The short answer is YES! While there may be short term relief from either your mortgage company servicer or landlord, you have to be aware that in the near future you will likely be asked to get the entire balance caught up. The local governments have shut down foreclosures and evictions in the short term based on their power to do so. This does not mean they have the power to stop your bill from accruing. In the aftermath of the 2008 crisis, millions of homeowners lost their homes because they believed the government would be there for them with the assistance they needed-they were wrong in so many ways!
If you are behind on your mortgage payment or rent, do not lose this opportunity to be proactive and start trying to work out your future arrears with your mortgage servicer or landlord. You cannot be faulted for falling behind during this shutdown where most Americans are prohibited from working. That is not equivalent to being immune from a foreclosure or eviction in the near future.
If you or your loved one is facing future foreclosure or eviction due to the Coronavirus shutdown, call us now and allow our experienced staff of attorneys to assist you!
