MORTGAGE FORECLOSURE: Cares Act creates gigantic opportunity for borrows under federally-backed and owned mortgages.

Posted By Cliff Tuttle | April 23, 2020

No. 1,643

The National Law Review reports that the Cares Act, which contained a variety of relief measures for persons suffering from COVID-19 shutdown, contains provisions permitting borrowers under federally backed mortgages to request relief from their mortgage servicer.  

Borrowers should contact their servicer to determine whether their mortgage is qualified.  Forbearance shall be granted for 180 days with an extension for an additional 180 days, upon request.

CLT

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CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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