Fannie mae foreclosures ga
If you have a federally-backed mortgage, those foreclosures have been stopped for 60 days (through May 17th) unless the property is vacant or abandoned. Remember to reach back out before the forbearance is over if you’re going to need a loan modification.Īre foreclosure sales happening in Georgia right now? Contact your servicer to ask for a forbearance if you need one. Many mortgage companies are offering forbearance plans for all of their loans. You may be asked to submit a hardship letter. Try the servicer’s website to see if you can ask for a forbearance online. Some companies have long wait times on the phone. You have to contact your mortgage servicer (the company that takes your payments normally) to ask for a forbearance. It’s important to contact your servicer before the forbearance is over to apply for help if you will not be able to pay the skipped payments all at once. At the end of the forbearance period, you owe those skipped payments, but your servicer can agree to modify your loan or put the missed payments at the end of the loan.
Homeowners can check whether their loan is backed by Fannie Mae or Freddie Mac by using the agencies’ loan look up tools and can confirm whether their loan is FHA-insured by reviewing their loan documents and mortgage statements.Ī forbearance means the servicer will allow you to send no payment, or a reduced payment, for a period of time. mortgage loans, and most people have no idea their mortgage is owned by Fannie or Freddie. How do I find out if my mortgage is federally-backed?įannie and Freddie own about half of the U.S. And it’s possible to get the forbearance extended for another six months.įederally-backed mortgages are ones owned or insured by Fannie Mae, Freddie Mac, or the FHA, VA, or USDA. Mortgage and Foreclosure Help. If you are having trouble paying your mortgage read this guide from the Consumer Financial Protection Bureau to learn about your options.Ĭongress passed a law requiring that borrowers with federally-backed mortgages be given a forbearance for up to six months if they fell behind due to a Coronavirus-related hardship.
#Fannie mae foreclosures ga free#
has a free tool to help tenants who cannot pay rent because of COVID-19 write a letter to their landlord. If you are served with an eviction, contact a lawyer right away, especially if you believe that you are protected by this new law. If your landlord does file an eviction case during this time, say in your answer that you believe your landlord has a federally backed mortgage, and ask the court to make them prove that they do not have a federally-backed mortgage. It may be hard to know if your landlord has this type of loan. You also cannot be evicted for not paying your rent if your landlord has a federally backed mortgage. McKinney-Vento Act homelessness programs (42 U.S.C. Housing Opportunities for Persons with AIDS (HOPWA) Section 221(d)(3) Below Market Interest Rate (BMIR) housing Section 811 housing for people with disabilities This applies to federal housing programs, including: Your landlord cannot file for eviction if: This does not apply to eviction cases that were filed before March 27th.Ĭannot file for eviction if you do not pay your rent during this time andĬannot charge you any fees for not paying your rent.īut, you can still be evicted if you break your lease in another way. The new CARES Act passed by the federal government stops some landlords from filing evictions for the next 120 days (through July 25, 2020). If you have been served with an eviction notice, contact the local court to see what their policy is at this time. Evictions. Some courts have stopped hearing eviction cases during the crisis.