The Coronavirus pandemic has caused hardships for all Americans. The government has responded.
Many counties have suspended foreclosure sales, and evictions, for the immediate future. The FHA has directed effective immediately a foreclosure and eviction moratorium for single family homeowners with FHA insured mortgages until at least mid-May. HUD has directed all mortgage servicers to halt all new foreclosure actions, and suspend all foreclosures and evictions in process, relative to FHA insured single family properties. Fannie Mae and Freddie Mac have suspended foreclosures and evictions until mid-May.
The Department Of Education has ordered that interest on federal student loans is waived until further notice. The waver is automatic, and no application is required. This waiver does not apply to private student loans. The DOE has also stopped seizing wages, tax refunds, and social security benefits to collect on student loan defaults. For social security payments and tax refunds already seized, the DOE will refund about 1.8 billion to 830,000 borrowers.
The Law Offices Of Todd S. Frankenthal assists its clients with debt problems. It has offices in Ft. Lauderdale, Boca Raton, and West Palm Beach.
