Center for Foreclosure Alternatives

Center for Foreclosure Alternatives

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Facing Foreclosure? Behind on your mortgage payments? Lose your job or getting divorced but don't want to lose your home? We can help! The Center for Foreclosure Alternatives is a portal to assist in educating the public on how to avoid foreclosure.

Our representatives are Certified Distressed Property Experts (CDPE) and are well versed in providing information on the 11 different options to help people avoid foreclosure. Our Center is a not for profit agency and does not charge for providing the information that is available to homeowners. Our goal is to give out the information that is already out in the marketplace but organized here to gi

Operating as usual

Bank of America and Chase could restart mortgage foreclosures as early as July, but Wells Fargo is waiting until 2022 05/27/2021

Bank of America and Chase could restart mortgage foreclosures as early as July, but Wells Fargo is waiting until 2022

Let us know if you need amy help!

Bank of America and Chase could restart mortgage foreclosures as early as July, but Wells Fargo is waiting until 2022 In a hearing Wednesday, Senators asked the CEOs of Bank of America, Chase and Wells Fargo about when they plan to restart mortgage foreclosures.

BREAKING: Federal judge lifts nationwide eviction ban 05/05/2021

BREAKING: Federal judge lifts nationwide eviction ban

This is huge news! Contact us for help or questions..

BREAKING: Federal judge lifts nationwide eviction ban A federal judge has lifted the Centers for Disease Control and Prevention's nationwide eviction ban, 6 weeks before it was set to expire

More homeowners are leaving mortgage forbearance — but still need help 04/21/2021

More homeowners are leaving mortgage forbearance — but still need help

We are definitely here to help!

#StopForeclosure #CFA

More homeowners are leaving mortgage forbearance — but still need help The share of mortgages in forbearance hit 4.50% for the week ending April 11, down from 4.66%, the previous week, according to the Mortgage Bankers Association.

Consumer protection group proposes rule to prevent foreclosures until 2022 04/07/2021

Consumer protection group proposes rule to prevent foreclosures until 2022

Wow. This will be interesting. Contact us for more info!

Consumer protection group proposes rule to prevent foreclosures until 2022 The Consumer Financial Protection Bureau proposed a rule Monday that would prevent mortgage servicers from filing a foreclosure until after Dec. 31, 2021.

President Biden signs $1.9T Covid relief stimulus bill into law 03/11/2021

President Biden signs $1.9T Covid relief stimulus bill into law

President Biden signs $1.9T Covid relief stimulus bill into law The $1,400 checks for millions of Americans provided in the package are set to go out by the end of the month.

A third stimulus check is in the Covid relief bill. Here's how to get your full payment. 03/05/2021

A third stimulus check is in the Covid relief bill. Here's how to get your full payment.

Good info! Share this!

#CFA

A third stimulus check is in the Covid relief bill. Here's how to get your full payment. If you lost your job or your income fell during the pandemic, filing your taxes immediately will ensure you get the maximum payment.

Ruling overturning CDC eviction moratorium injects confusion into housing market 02/27/2021

Ruling overturning CDC eviction moratorium injects confusion into housing market

Ruling overturning CDC eviction moratorium injects confusion into housing market In a move that has triggered confusion across the housing market, a federal judge in Texas issued a ruling Thursday knocking down the CDC's eviction moratorium — signed by President Trump and extended by President Biden — as unconstitutional.

FHFA extends forbearance period to 18 months - HousingWire 02/27/2021

FHFA extends forbearance period to 18 months - HousingWire

FHFA extends forbearance period to 18 months - HousingWire FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.

A growing affordable housing crisis—on both sides of the Atlantic | Heinrich Böll Stiftung | Washington, DC Office - USA, Canada, Global Dialogue 02/25/2021

A growing affordable housing crisis—on both sides of the Atlantic | Heinrich Böll Stiftung | Washington, DC Office - USA, Canada, Global Dialogue

A growing affordable housing crisis—on both sides of the Atlantic | Heinrich Böll Stiftung | Washington, DC Office - USA, Canada, Global Dialogue In both the US and Germany, the growing shortage of affordable housing is increasingly reaching into the middle class and impacting broad swaths of society—increasing the pressure on policymakers to implement solutions.

Third stimulus check IRS updates today: when will it come, amount, dates, child tax credit, $1.9 trillion breakdown 02/12/2021

Third stimulus check IRS updates today: when will it come, amount, dates, child tax credit, $1.9 trillion breakdown

Third stimulus check IRS updates today: when will it come, amount, dates, child tax credit, $1.9 trillion breakdown The latest information and details on the third stimulus check included in US President Joe Biden's Covid-19 relief plan, on Friday 12, February 2021

abcnews.go.com 12/12/2020

Eviction crisis looms as millions rely on federal moratorium expiring this month

abcnews.go.com An estimated 6.7 million renter households -- about 19 million people -- are currently unable to pay their rent.

cnn.com 12/11/2020

14 million US households are at risk of eviction as protections expire

"But the pandemic -- which Ayers described as a "wicked, giant octopus with very long tentacles" -- upended his life."

Just know that there is help and support that doesn't cost anything!

cnn.com John Ayers' face filled with pride as he listed everything he used to be able to afford as an insurance agent -- $2,000 monthly rent, hundreds of dollars in prescriptions for his severe arthritis and diabetes, and even a regular Uber driver, known as Fast Ice, to take him grocery shopping in a black...

buffalonews.com 12/10/2020

Frustrated landlords turning to illegal 'self-help' evictions

buffalonews.com Some landlords are growing tired of waiting, and are taking matters into their own hands with allegedly illegal tactics.

housingwire.com 12/04/2020

FHFA extends foreclosure and eviction moratorium to Jan. 31

Great news!

housingwire.com FHFA extended its moratorium on foreclosures and evictions for borrowers with mortgages backed by Fannie Mae and Freddie Mac until Jan. 31.

nbcnews.com 11/27/2020

Why economists are getting worried about 2021

nbcnews.com There is growing concern that an uncontrolled Covid-19 surge triggered by the Thanksgiving weekend could further weaken a slowing economic recovery.

cnn.com 11/25/2020

Another 778,000 Americans filed first-time unemployment claims last week

cnn.com The recovery in the American job market is still painfully slow. Another 778,000 people filed for first-time unemployment benefits last week on a seasonally adjusted basis.

cnn.com 11/25/2020

Another 778,000 Americans filed first-time unemployment claims last week

cnn.com The recovery in the American job market is still painfully slow. Another 778,000 people filed for first-time unemployment benefits last week on a seasonally adjusted basis.

finance.yahoo.com 11/24/2020

Millions of Americans Expect to Lose Their Homes as Covid Rages

It absolutely positively does NOT have to be this way. There is FREE help available to SAVE YOUR HOME! Contact us for a free, private and confidential consultation.

Please share with anyone you know who could use the help!

finance.yahoo.com (Bloomberg) -- Millions of Americans expect to face eviction by the end of this year, adding to the suffering inflicted by the coronavirus pandemic raging across the U.S.About 5.8 million adults say they are somewhat to very likely to face eviction or foreclosure in the next two months, according to...

11/19/2020

12 million Americans set to lose unemployment benefits after Christmas

Expanded federal benefits are scheduled to lapse in December, potentially leaving millions of people with no income.

usatoday.com 10/18/2020

More than 6M households missed their rent or mortgage payment in September

If you or someone you know is falling behind contact us for FREE help!

usatoday.com More than 6 million households missed their rent or mortgage payment in September, as Congress stalls on coronavirus stimulus aid.

[09/29/20]   As of today Fannie Mae & Freddie Macs foreclosure moratorium is still set to expire on December 31 2020

#ContactUsForInfo
#CFA

09/16/2020

The more you know! #CFA #StopForeclosure

[09/15/20]   7% of all homeowners are currently in Forbearance as of today

housingwire.com 05/19/2020

Fannie Mae, Freddie Mac will allow borrowers who took forbearance to refinance their mortgage

Great info here!

housingwire.com The GSEs will now allow borrowers who went into COVID-19 forbearance to refinance their loan or buy a new home with the support of the GSEs.

housingwire.com 05/13/2020

Almost 4 million mortgages are in forbearance, MBA says - HousingWire

Forbearance can be a viable option depending on the specific terms, if proper planning is put in to place and it is fully understood. Contact us for more information.

#CFA #StopForeclosure #ShareThis

housingwire.com Almost four million mortgages are in forbearance as Americans struggle with the economic impact of COVID-19, according to the MBA.

05/02/2020
05/01/2020

[04/29/20]   Good information on Foreclosures right now:

COVID-19 – CARES Act and Federal Foreclosures
April 28, 2020
On March 27, 2020 Congress enacted the Coronavirus Aid, Relief and Economic Security Act of 2020 (“CARES Act”), which provides for financial relief due to the COVID-19 Virus
Pandemic. Section 4022 provides a moratorium on residential foreclosures for borrowers with federally backed 1-4 family mortgage loans and addresses the right of a homeowner to request a forbearance from payment on these loans. The requirements only apply to federally backed mortgages which are loans insured or guaranteed by FHA, VA, USDA or loans that are owned or securitized by Fannie Mae or Freddie Mac. The moratorium does not apply to vacant or abandoned property or private bank loans. Under the Act, no mortgage servicer of any federally backed 1-4 family mortgage loan is permitted to do the following for a 60-day period beginning March 18, 2020 and ending May 17, 2020:
a) Initiate any judicial or non-judicial foreclosure process;
b) File a motion for foreclosure judgment or order of sale; or
c) Execute a foreclosure-related eviction or foreclosure sale.
Section 4022 also allows a borrower on a federally backed 1-4 family mortgage loan to request a forbearance from payment up to 180 days with the right to request an additional 180-day extension. Section 4023 allows a borrower on certain federally backed multi-family mortgages to request forbearance for up to 30 days with two 30-day extensions. During the term of forbearance, a tenant cannot be evicted or charged late fees. Section 4024 establishes a temporary moratorium on eviction filings for certain single and multi-family housing. During the 120-day period beginning on March 27, 2020, a lessor cannot initiate an eviction for nonpayment of rent. After the moratorium period, the landlord may not evict a tenant unless a 30-day notice is provided to the tenant.
Several states have also issued executive or other governmental orders or proclamations establishing their own moratoriums on foreclosures and evictions. These orders may be more expansive and prohibit judicial and non-judicial foreclosures of private and commercial mortgages.

#Cfa #foreclosuremoratoriums #forebearance #covid19

bankrate.com 04/18/2020

4 HELOC Strategies As Interest Rates Touch Bottom | Bankrate

Here are some great tips to help you leverage right now! Contact us with any questions.

#CFA #StopForeclosure

bankrate.com Advice for home equity borrowers: What you need to do now.

04/10/2020

If you or anyone you know may be unable to pay their mortgage in the future, please watch and share 🙏🙏

Real help is free!

#CFA #StopForeclosure #ShareThis

money.yahoo.com 04/09/2020

Coronavirus stimulus checks: When to expect up to $1,200, what you need to do, and more

Good information here!

#CFA

money.yahoo.com Many Americans will get government checks to help them weather money challenges from the coronavirus outbreak. Here’s what you need to know.

wamu.org 04/02/2020

Here Are The New Tax Filing Deadlines For D.C., Maryland And Virginia | WAMU

Good information!

wamu.org The federal government, D.C., Maryland and Virginia have all adjusted deadlines for paying or filing income taxes. But the revised deadlines in your jurisdiction may not align with the new federal deadline.

[04/02/20]   Hi everyone - a lot of people have asked us about mortgage forbearance. Here is what is being provided under the CARES Act.

Customers experiencing an immediate hardship due to COVID-19, including job loss, income reduction, illness or other related impacts preventing them from making mortgage payments are being offered a Forbearance Agreement on their primary residence, second home or investment property. This option may allow customers to temporarily suspend or reduce monthly mortgage payments. It is not a deferment and amounts owed cannot be skipped or added to the end of the loan.

As per guidance from Fannie Mae, Freddie Mac, and government loan agencies, most servicers are offering a 90 day forbearance plan and reevaluating for extensions in accordance with the allowable forbearance plan timelines of up to 180 days in accordance with the CARES Act.

Upon completion of the Forbearance plan, Servicers will work with customers if necessary to pursue long-term assistance options such as loan modifications or other payment workout options.

Credit Reporting:
The CARES Act requires Servicers to not report negative data to credit bureaus for customers actively performing on Forbearance plans. Servicers must report these customers to the credit bureaus as either Current on monthly mortgage payments or at the same status prior to the hardship.

The credit reporting protections described above will be in effect for impacted customers until the later of the following:
• 120 days after the enactment of the CARES Act
or
• 120 days after the National Emergency Declaration for Coronavirus is terminated

• Fannie Mae and Freddie Mac are requiring servicers to suspend credit bureau reporting of past due payments for customers in Forbearance, Repayment Plans or Trial Period Plans

• FHA, RHS and VA strongly encourage (but do not require) Servicers to suspend negative credit bureau reporting for customers impacted by COVID-19. As this is not required, there may be Servicers who do not put these suggested practices into place or who are slow to do so

Late Fees:
Servicers must not accrue or collect late charges from customers during the Forbearance plan. If customers default on the terms of the Forbearance plan, Servicers are authorized to accrue late charges from the date customers defaulted on the plan.

Foreclosures and Evictions:
Moratoriums are in place on the initiation of new foreclosures, foreclosure sales and evictions – except for vacant and abandoned properties. Under current guidance, the period of the moratorium extends 60 days from March 18, 2020. The Federal Government may extend this timeframe.

Investment Properties:
In accordance with the CARES Act, landlords with mortgages insured, guaranteed, supplemented, protected, or assisted by HUD, Fannie Mae, Freddie Mac, or certain other programs are temporarily prohibited for 120 days from eviction filings, assessing late fees or other penalties for nonpayment of rent.

Options that are not being offered / not available:
• Add payments to the back of the loan (extension)
• Defer payments
• Skip payments
• Waiving interest
Note: Deferments, skipping payments and adding payments to the back of the loan are not Forbearance options. Deferments permanently alter the terms of the original security instrument by adding missed payments to the back of the loan. Payments under a Forbearance remain due and payable once the time frame expires, and customers have to partner with their Servicer for long term Loss Mitigation options (repayment plans, modifications, etc.)

#CFA

kiplinger.com 04/01/2020

Stimulus Check Calculator 2020

Good info here!

#CFA

kiplinger.com Stimulus Check Calculator: Find out how much your economic stimulus check will be using this handy tool.

nbcnews.com 03/31/2020

IRS releases more info on how to get coronavirus stimulus checks ASAP

nbcnews.com Treasury Secretary Steven Mnuchin said payments will go out "within three weeks" for people who have their direct deposit information on file with the IRS.

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