2

Foreclosure and Loan Modification Blog

Why It is Better to Hire an Attorney Than Proceeding 'Pro Se'

When you are served with foreclosure documents it can be devastating. Given the current situation, you are faced with the possibility of losing your home during, what appears to be, a never-ending COVID-19 pandemic.

This foreclosure also didn't take place because you have tons of disposable income laying around. So now you have to decide how you are going to save your home. The idea of hiring an attorney in the wake of being served with foreclosure documents seems impossible: if you didn't even have enough money to pay your mortgage, how can you think about hiring a lawyer? So now you're considering representing yourself in court to save your house and to save the attorneys' fees.

COVID-19 Foreclosure and Eviction Procedures

This article was last updated July 10, 2020 at 10:45 a.m.

Federal Foreclosure Moratoriums

Federal laws now state that Fannie Mae, Freddie Mac and FHA have been directed to suspend foreclosures and evictions due to the COVID-19 emergency. What does this mean? Any person with an Enterprise-backed single-family mortgage will not be evicted or foreclosed on before August 31st. This does not mean that your mortgage payments are forgiven for the next 2 months; you must still pay the money, the due dates have just been suspended. You will not be charged a fee for taking advantage of this forbearance. Also, as per the Federal CARES Act, your mortgage servicer is not allowed to ask you to pay a lump sum payment at the end of the forbearance period.

If you don’t know whether your loan is backed by Fannie Mae or Freddie Mac, you can verify it below.

Should You Make Mortgage Escrow Payments During a Covid19 Forbearance?

Your mortgage payment is usually a PITI payment. PITI stands for Principal, Interest, Taxes, and Insurance. When you make your payments each month, the "TI," or tax and insurance portions, are saved in an escrow account.

Coronavirus Q&A: Should You Make Your Mortgage Payments?

Here are just a few of the things I overheard last week:

  • "Wells Fargo gave me a 3 month forbearance, I don't need to make any payments."
  • "If they can't foreclose, why should I make my mortgage payments?"
  • "Mr. Cooper is letting me skip three mortgage payments, I ordered new patio furniture."

How would you respond to each of these? Let's take a look.

About this Blog

Amerihope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in 5 states. We have helped over 7,000 homeowners fight back and keep their homes.

Click to Read Our Super Loan Mod Success Stories

Our goal is to provide valuable information to help homeowners who are trying to obtain a loan modification or to stop foreclosure. You may schedule a free consultation at any time.

Subscribe to Email Updates

Lists by Topic

see all
Quick Foreclosure Quiz

Foreclosure Process Handbook