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Foreclosure Defense and Loan Modification Blog

Did You Get A Forbearance Or Deferment After Hurricane Irma?

Posted by Maxwell Swinney

Friday, March 30, 2018

If you accepted your mortgage lender's offer to suspend your house payments so you could get back on your feet after a hurricane, you may have found that their help actually put you at risk of foreclosure. Hurricane Irma, as well as Harvey and Maria, caused damage that led some homeowners to wind up in that situation.

Many homeowners accepted their lender's offer without knowing exactly what kind of help they were getting and what the consequences of that help would be. There are also cases of the bank saying one thing and doing another.

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Let's take a look at two of the main ways mortgage payments can be suspended and repaid following a disaster:

Forbearance

A forbearance is when a lender temporarily suspends your payments so you can avoid falling behind on your loan for a period of time until your hardship is over. After it's over, all the missed payments typically have to be paid back in one lump sum.

It's great to have your bank's permission to not make some payments if you have an emergency and need to spend your money on other things. But, if your money is tight enough to need a forbearance, how are you going to afford to pay back 3, 6, or 12 missed payments in one fell swoop? That's why a forbearance is so dangerous. If you're at the end of your forbearance period and can't pay the money back and the bank won't give you a repayment plan, you could end up in foreclosure.

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Topics: foreclosure, hurricane irma

Did Your Hurricane Irma Forbearance Cause Foreclosure?

Posted by Maxwell Swinney

Tuesday, March 27, 2018

2017's hurricanes are long gone, but some homeowners affected by Irma, Harvey, and Maria are trying to avoid foreclosure after their bank-approved forbearance caused them to end up in foreclosure.

How could that be?

Hurricane Hardships

When hurricane Irma tore through Florida, it knocked out power and damaged property. A lot of people missed work and had to spend extra money on things like home repairs, replacement groceries, fuel for a generator, or a hotel. All the extra expenses made it hard or impossible to pay the mortgage.

Fortunately, many banks offered some assistance to homeowners going through a hurricane-related hardship. Unfortunately, after that temporary assistance ended, some homeowners are finding themselves worse off than before.

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Topics: florida foreclosure attorney, hurricane irma, mr cooper loan modification

What Happens When Hurricane Irma Mortgage Help Ends?

Posted by Maxwell Swinney

Wednesday, March 7, 2018

March 2018 Update: If your lender is calling you regarding delinquent payments after making you an offer of assistance, act immediately. We have been contacted by several homeowners who have received foreclosure notices after believing their lender or servicer had granted them relief.


Temporary mortgage assistance has been made available to homeowners in parts of the country that were declared disaster areas as a result of 2017's major hurricanes, including Hurricane Irma in Florida, Harvey in Texas, and Maria in Puerto Rico. That help is much needed for many people, but what happens when the relief ends?

After getting some kind of assistance, you and your mortgage could end up in better shape, but you could also find that your problems are worse. It all depends on your situation and what kind of assistance you get. So it's important to understand what you're getting into.

Let's take a look at some of the assistance available.

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Topics: loan modification, hurricane irma, mortgage assistance

Help Is Available for Hurricane Irma Survivors

Posted by Maxwell Swinney

Saturday, September 23, 2017

Hurricane Irma did more than $62 billion of damage in Florida and the Caribbean, making it the fourth-costliest hurricane on record. Homes and property were destroyed and damaged, 101 people died, and many endured serious hardships.

Survivors continue to clean up and try to return to their normal lives. Fortunately there is help available from the federal government, state government, and charities. Below are links and information on some of the help that's available.

FEMA, the Federal Emergency Management Agency, is involved in coordinating the response to Irma since a state of emergency was declared in Florida. You can go to FEMA.gov or Disasterassistance.gov for more information on a variety of programs to see if you are eligible for assistance and to apply. You can also call FEMA toll-free at 1-800-621-FEMA (1-800-621-3362).

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Topics: hurricane irma, fema

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.

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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.

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