Worried About Your Mortgage During Coronavirus?

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Real Estate

Worried About Your Mortgage During Coronavirus?

Are you worried about your mortgage and income during this time by the fallout from the virus? Take a breath, the federal government has placed a moratorium on foreclosures backed by government mortgage facilitators and FHA through the end of April as of now.

DON'T WAIT UNTIL YOUR MORTGAGE IS DUE, contact your mortgage servicer and check out your bank's website some including Wells Fargo, Bank of America, Capital One, Chase and a few others have already put out coronavirus response pages. When you call them, tell them your hardship and who owns your loan and ask what options are available. Be sure and document your hardship this is a fluid situation and the federal government and your servicer could make changes at any time. 

Mortgage servicers are most likely going to be flooded with calls from homeowners facing the fallout with the coronavirus. It very important that you contact your lender immediately. Many banks have said they are willing to work with distressed borrowers.  

If you are feeling overwhelmed I am happy to answer any questions you may have call me 540-834-6924. I am staying as informed as new information about the fallout of coronavirus is affecting 1 out of 3 homeowners ability to pay thir mortgage.




Courtesy Pam Martin


eXp Realty Fredericksburg, Stafford VA