Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
Millions of homeowners have signed up for a forbearance under the CARES Act, which gives homeowners with a federally-backed mortgage loan the right to obtain a temporary reduction or suspension of mortgage payments by way of...more
The Consumer Financial Protection Bureau (“CFPB”) announced post-COVID-19 mortgage servicing rules that went into effect August 31, 2021 (“Rules”). The Rules are designed to protect borrowers from “avoidable foreclosures” and...more
Can I be locked out of my home during the COVID-19 emergency? No. Two different government orders prevent lockouts at this time. 1.The State Order- On March 19, 2020, New Jersey Governor Philip Murphy issued...more
CIERRES PATRONALES- ¿Puedo ser excluido de mi casa durante la emergencia COVID-19? No. Dos órdenes gubernamentales diferentes impiden los cierres patronales en este momento.- La Orden del Estado El 19 de marzo de...more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more
CIERRES PATRONALES- ¿Puedo ser excluido de mi casa durante la emergencia COVID-19? No. Dos órdenes gubernamentales diferentes impiden los cierres patronales en este momento. La Orden del Estado El 19 de marzo de...more
LOCKOUTS- Can I be locked out of my home during the COVID-19 emergency? No. Two different government orders prevent lockouts at this time. 1.The State Order On March 19, 2020, New Jersey Governor Philip Murphy issued...more
LOCKOUTS- Can I be locked out of my home during the COVID-19 emergency? No. Two different government orders prevent lockouts at this time. 1. The State Order- On March 19, 2020, New Jersey Governor Philip...more
March 13, 2021, marked the one-year anniversary of President Trump's declaring COVID-19 a national emergency. Through the CARES Act, agency action and guidance, and various state laws and executive orders, governments across...more
Landlords in the state of Texas won a battle over their ability to conduct residential evictions when a federal court struck down the Centers for Disease Control’s (CDC) broad eviction moratorium last Thursday. On February...more
LOCKOUTS- Can I be locked out of my home during the COVID-19 emergency? No. Two different government orders prevent lockouts at this time. 1.The State Order On March 19, 2020, New Jersey Governor Philip Murphy...more
Since the beginning of the year and the change in Presidential administrations, a number of relief measures granted in response to the COVID-19 pandemic have been extended. Below are updates regarding relief measures in place...more
The March 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains a number of provisions that help borrowers with federally backed mortgage loans. Among these are forbearance protections for borrowers...more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106 , suspending evictions...more
RESIDENTIAL EVICTIONS: WHAT TENANTS NEED TO KNOW- As of December 3, 2020- PATRONAL CLOSURES- Can I be excluded from my home during the COVID-19 emergency? No. Two different government orders prevent lockouts at...more
On September 4, the Centers for Disease Control (CDC) imposed a moratorium on residential foreclosures and evictions through the end of this year. The move quickly followed comments by the Trump administration that it would...more
Economic turmoil brought on by the coronavirus pandemic has created much concern about a potential rise in residential foreclosures. On August 5, 2020, Governor Jim Justice followed his presentation on school reopening...more
On September 1, 2020, the Centers for Disease Control and Prevention (CDC) announced that it was issuing an order (CDC Order) to temporarily halt residential evictions to prevent the further spread of COVID-19. The CDC Order...more
As part of the federal government’s response to the COVID-19 pandemic, the Coronavirus, Aid, Relief and Economic Security Act (CARES Act) established a 120-day eviction moratorium for evictions based on non-payment of rent...more
Two federal enterprises who purchase and securitize mortgages, Fannie Mae and Freddie Mac, along with three federal agencies who make, guarantee, and insure mortgage loans, the Department of Housing and Urban Development...more
Companion bills were recently introduced in the U.S. House of Representatives (H.R. 6794) and the U.S. Senate (S. 4260) to create the Promoting Access to Credit for Homebuyers Act of 2020. The Act would require Fannie Mae and...more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which immediately...more
On August 3, 2020, Fannie Mae updated its COVID-19 servicing FAQs to add an FAQ regarding a COVID-19 forbearance plan with a period of less than 180 days. The FAQ says...more
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides, among other things, for eviction and mortgage foreclosure relief, as well as associated fees and penalties associated with nonpayment of rent...more