COVID CARES ACT

Let's be honest here! This year has not been all sunshine and gravy. Last year was even a wilder ride. Hey, but we are here and have everything to be thankful for. Now let's get down to business. Many people do not even know where to begin if they have gone through financial hardship and as a small business ourselves I do feel it is my obligation to provide options to We the People that are needing assistance in this matter. No mortgage company are not going around advertising that you may qualify for forbearance but they are rather taking the help themselves. If we can rewind back to 2007 when the last mortgage crisis happened  you will remember the banks were bailed out and not the people. This can be a History Repeats Itself situation, but we can only hope that the mortgage company will use these funds to help out the people instead of their high up CEO's and executives. For example Flagstar is doing a great job of showing an option for homeowners. 

​https://www.flagstar.com/personal/mortgage-information-center/facing-financial-hardships.html

The biggest kicker here! You must call and ask for the Cares Act. If you do not call your mortgage company and ask for assistance you will not receive assistance. It may seem tedious but it is well worth it regardless if you are planning to keep your home or sell it. The program offers up to 6 months with no payments with no late fees and credit reporting during this period.


There are other options for homeowners such as:
1. Selling  your Home
2. Short Selling your Home (Allows you to stay in your home longer)
3. Refinancing 
4. Deed in Luie of Foreclosure
6. Forbearance Refinance after the 6 months of CARES act is when this is done.

Your home is your security we have learned this very well after covid. If you are facing any type of issues please feel free to reach out for advice.  Best Regards, Celina 303.564.9637