Foreclosures Archives - FCW Legal

What Happens When Covid Mortgage Forbearance Ends?

Foreclosures

If you received financial relief through the federal government’s Covid mortgage forbearance program and it hasn’t already ended for you, it will soon. The CARES Act provided a mortgage payment forbearance option for all borrowers who, either directly or indirectly, suffer a financial hardship due to the coronavirus (COVID-19) national emergency. A forbearance is a temporary postponement or reduction of mortgage payments. It is not payment forgiveness. You must decide what happens next. Tha... CONTINUE READING

How Does Bankruptcy Affect Cosigners?

Having a cosigner on a loan is a common occurrence for borrowers making a big purchase. But how does bankruptcy affect cosigners? Cosigners could be at risk for paying back a loan if the borrower declares bankruptcy. There are, however, many factors at stake. If you’re cosigning a loan, underst...

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