There’s been a STOP declared on foreclosure of government guaranteed mortgages until May 18, 2020. This includes practically all Reverse Mortgages and all loans owned by Freddie Mac, Fannie Mae, HUD and FHA. And if you can’t make your mortgage payment because of decreased income relating to Covid-19, there is a 6 month forbearance (think “pause” on making payments) with no late fees! But you must ACT and call your mortgage company NOW at the number listed on your monthly statement.
And PNC, Citizens Bank, Ocean First, First Commonwealth and Dollar Bank, are giving borrowers impacted by Covid-19 a 90 day grace period (until July 1, 2020) on mortgage loans and most consumer loans, including car loans. Call your lender today!
And stay tuned because these dates may be extended and SeniorLAW Center will keep you informed! Our Homeownership Rights Team stands ready and able to assist older Pennsylvanians with legal questions and concerns. Call our statewide HelpLine at 1.877.PA SR LAW.
Visit our resource page for up-to-date information here.