The Coronavirus has brought unprecedented fears to Homeowners. There are forecasts regarding the economic devastation that may incur as a result. While many have pending cases, there is no better time to take action. If you are in Foreclosure or have stopped paying due to the Coronavirus, contact 954 Foreclosure Attorneys at 954.237.7740.
Can The Delay Caused To Foreclosures By The Coronavirus Benefit Homeowners?
There is currently a Moratorium until the end August of 2020. This means that Foreclosures are moving slow and Sales are not taking place. While it is unclear when it will be lifted, once it does, the Banks will attempt to make up the time they lost. Therefore, Homeowners should use this opportunity to take advantage of the programs. These allow them the chance to still modify the terms of their loan.
There are an exorbitant number of Homeowners that have not paid since March of 2020. While many have chosen to place their loan in Forbearance, others are using their savings to stay current. Unfortunately, this could lead to more Foreclosures. On the other hand, the Homeowner’s cases that are in Foreclosure are in limbo. Unlike a Homeowner that stopped paying because of the Coronavirus, they do not have the luxury of Forbearance. However, they do have the opportunity to aggressively apply.
During the case, a Homeowner that attempts to qualify has to deal with time constraints. This has not been the case since March of 2020. The Coronavirus has given them a chance to modify their loan. Our office helps Homeowners that need to change the terms. An additional benefit that the Delay to Foreclosures caused by the Coronavirus is that they can live without anxiety. As a result, there has been very little movement regarding their case resulting in families having more time.
Therefore, if you are a Homeowner in Foreclosure and are need representation, contact 954 Foreclosure Eviction Attorneys, PLLC at 954.237.7740.