Fort Walton Beach, Fla.- The Coronavirus (COVID-19) is affecting the economy drastically. The Government recently passed the Coronavirus Aid, Relief and Economic Security (CARES) Act to help homeowners. The bill allows homeowners to defer payments for 60 days during COVID-19. Lewis and Jurnovoy, a Fort Walton Beach Foreclosure Lawyer, is highlighting the CARES Act to caution homeowners.
It is important that a homeowner should still pay their mortgage if they have the ability to do so. If a homeowner is unable to pay their mortgage, it is still important they contact their loan provider as quickly as possible. The goal of the CARES Act is to try and help prevent foreclosure requiring open communication between loan providers and homeowners.
Under the CARES Act, a lender cannot foreclose within 60 days of March 18th, 2020. During this time, it is important for a homeowner to do all they can to make payments no matter how small. Homeowners being affected by COVID-19 have the right to apply for forbearance for up to 180 days under the CARES Act. It is important to note these expectations are for homeowners with federally backed loans. If a homeowner does not have a federally backed loan, it will be very important to contact the loan provider and discuss options.
Lewis and Jurnovoy, a Fort Walton Beach mortgage modification lawyer, is here to help homeowners with any questions or concerns during this unprecedented time. Martin Lewis and Steven Jurnovoy have a passion for helping the families in the community protect their assets. For more information give them a call at (850) 863-9110 or visit them online at www.LewisandJurnovoy.com.
SOURCE: Press Advantage [Link]
The primary emphasis of our law firm is in the representation of individuals in Chapter 13 bankruptcy, Chapter 7 bankruptcy,mortgage foreclosures, mortgage modifications and protecting against abusive debt collectors.
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