U.S Government Suspends Mortgage Foreclosures But Not the Obligations to Make Payments

Cotzen Law hopes everyone is doing well, staying safe, and social distancing during the Coronavirus scare.

While the U.S. government is apparently suspending foreclosures until the end of April, it has not (yet) suspended the obligation of borrowers to make payments. This likely means that while a lender may not be able to either start or finish a foreclosure through the end of April, the borrower is still obligated to make payments to the lender. This is an impossibility to many whose incomes have been impacted by the virus, the economic downturn, and the inability to go to work or keep businesses open.

As a result, we expect a monumental increase in foreclosure cases throughout 2020 and likely for years to come as a result of the Coronavirus and the economic downturn that will result.

Read more about the apparent foreclosure suspension here.

Cotzen Law can help and has substantial experience and success in defending foreclosure actions. I am working remotely and am available for virtual consultations.

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