If you have a mortgage backed by HUD/FHA, USDA, or VA and are struggling to make payments due to the pandemic, you can request initial forbearance anytime during the COVID-19 National Emergency.
The federal foreclosure moratoria are set to expire July 31st, and lenders and mortgage servicers can start foreclosing on homes as soon as August 1st. Homeowners who are behind on their mortgages must act now to save their homes.
We have temporarily updated our rule for most mortgage servicers to require them ─ when they reach out to borrowers who are behind on their loans or in forbearance ─ to tell borrowers about their options to avoid foreclosure. Learn why you should contact your mortgage servicer if you’re struggling to make your payments.
Financial relief and protections for many student loan borrowers, renters, and homeowners has been extended. Here’s what you need to know.
A recent law provides additional protections for servicemembers affecting VA refinances, medical debt on credit reports, credit monitoring, and stays on foreclosure. Here’s what to look for in the new laws and when they go into effect.
Si como consecuencia de un desastre natural usted tiene dificultades para hacer sus pagos hipotecarios o no puede cumplir con las obligaciones de una hipoteca inversa (reverse mortgage) tales como impuestos o seguro, existen recursos y opciones que potencialmente pueden ayudarle a evitar una ejecución hipotecaria (foreclosure).
If you are struggling to make your mortgage payment or can’t meet your reverse mortgage obligations, such as paying taxes and insurance, in the wake of a natural disaster, there are resources and potential options to avoid foreclosure.
Asistencia para aquellas personas que tienen dificultades financieras luego de un desastre natural, incluyendo información acerca de cómo obtener ayuda y de cómo trabajar con bancos y prestamistas para solucionar sus problemas.
Help for people struggling financially after a natural disaster, including information on how to get help and ways to work with banks and lenders.
Today we finalized new changes to our mortgage servicing rules. These updates ensure that mortgage servicers treat homeowners and struggling borrowers fairly. They also provide servicers with greater clarity about how to comply with the rules.
Since the Mortgage Servicing Rules went into effect, we’ve spent a lot of time talking to consumer advocacy groups, housing counselors, mortgage servicers, and trade associations, to better understand how the rules are working and whether we should make any changes to them. As a result, we’re now proposing some changes to the Mortgage Servicing Rules. The changes are intended to smooth the path for companies to better protect consumers and comply with the CFPB’s rules.
Along with other cases from federal and state partners, today we charged that mortgage rescue scammers have taken $25 million in illegal advance fees from consumers. It serves as a reminder of how important it is to watch out for scam artists trying to take advantage of people who need help avoiding foreclosure. Read more to learn how to protect yourself from these scams.
The National Ocwen Settlement Administrator is responsible for handling settlement claims and has created a website with information for consumers who were harmed by Ocwen’s actions.
For military families, this means that when they seek help for a troubled mortgage or have to move because of Permanent Change of Station (PCS) orders, they will get fewer nasty surprises and face less risk of losing their home.
The most important thing you can do when you’re having trouble paying your mortgage is take control. There is nothing worse than doing nothing. Read more to see what steps you can take.
We’re taking action against Ocwen Financial Corporation for years of systemic misconduct that includes unfair shortcuts, unauthorized fees, deception, illegal foreclosures, and other illegal practices. Ocwen will be required to provide $2 billion in loan modification relief to its customers and $125 million in refunds to consumers whose homes were foreclosed. Learn more about what this might mean for you.
If you’re having trouble paying your mortgage, we can help you get connected to a HUD-approved housing counselor at no cost to you. The counselor can help you work with your servicer or lender to try to avoid foreclosure, organize your finances, understand your mortgage options, and find a solution that works for you.
The No. 1 topic they’ve raised with me is the decline in home values and the frightening prospect that – if their home is underwater – a Permanent Change of Station, or PCS, move will ruin their finances and put their security clearance at risk.
