Only if you have to.
Q: Why?
A: Because in our experience, most mortgage "disaster relief" becomes a nightmare.
The government shutdown, which began on December 22, 2018 and is now the longest in history, has left 800,000 federal workers without pay.
While there's no end to the shutdown in sight, there is help available for federal workers who are struggling to pay their mortgages because of it.
Mortgage servicers are making assistance available that they normally offer during natural disasters such as hurricanes and wildfires.
Florida Attorney General Pam Bondi has announced that a settlement was reached with Nationstar Mortgage, doing business as Mr. Cooper, that “resolves allegations regarding Mr. Cooper’s servicing misconduct in the aftermath of Hurricane Irma.”
(If you're in foreclosure, or being threatened with foreclosure after a hurricane, contact our firm for a free Hurricane Hardship Review.)
Mr. Cooper/Nationstar is a mortgage lender and servicer based in Texas which services mortgages nationwide. Their misconduct related to Hurricane Irma is similar to stories we've heard from homeowners with loans serviced by many servicers after the hurricane. It goes like this:
A mortgage servicer tells a homeowner that they can postpone 3-6 months of mortgage payments to recover from the financial impact of Hurricane Irma.
If you're experiencing a temporary hardship that has caused you to be unable to make your monthly mortgage payments, a forbearance agreement is an option to consider that helps you keep your home out of foreclosure until your hardship passes. A forbearance agreement allows you to:
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.
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.
