I have been preaching for months about the crucial importance of obtaining CARES Act forbearance on your mortgage loan, if you are eligible. Here is the post explaining eligibility and how to obtain the forbearance under CARES.

And here is a post from October explaining that if your mortgage is eligible for a forbearance, you can get CARES even if you are on the verge of a sheriff sale.

The CARES Act Ends in Two Weeks

The problem is, the right to forbearance under The CARES Act ends in two weeks. It is gone as of December 30, 2020. It is time to ACT!

I used the CARES Act forbearance. The downsides are very, very minimal, near to zero.

This recent Bloomberg article hammers home the point, too: https://www.bloomberg.com/news/articles/2020-12-15/more-u-s-mortgage-borrowers-start-to-seek-loan-forbearance

The number of homeowners looking for help on their mortgage is increasing. Only about 7% are using The CARES Act forbearance … very unfortunate … hopefully I can convince some of you to look into this.

The point of the Bloomberg piece, though, is that the number of people looking for help on their mortgage loan is often a precursor to an economic problem in the near future.

Exercise Your Rights

Please, PLEASE get ahead of the curve. If you are eligible for The CARES Act forbearance, exercise your right!

Attorney

Joshua Denbeaux is a Partner at Denbeaux & Denbeaux, concentrating his practice on financial consumer rights issues and foreclosure defense. He has substantial experience in legal matters related to foreclosure, loan modification, debt collection, and the prosecution of cases related to predatory lending. Mr. Denbeaux received his law degree in 1994 from Seton Hall University after completing his undergraduate work at The College of Wooster. Mr. Denbeaux is licensed to practice in the United States District Courts for New Jersey.