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Mortgages › Foreclosure › Coronavirus/COVID-19

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Bradley Arant Boult Cummings LLP

Veterans Affairs Ending Mortgage Rescue Program

Bradley Arant Boult Cummings LLP on

On April 3, 2025, the U.S. Department of Veterans Affairs (VA) announced it will end the Veterans Affairs Servicing Purchase (VASP) program on May 1, 2025. This decision comes just shy of one year since the program’s...more

McGlinchey Stafford

Third Circuit Illustrates Federal Court Presumption for Exercising Concurrent Jurisdiction

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Arsenis v. M&T Bank is a tale of two cases. The bank brought an action against Ms. Arsenis to foreclosure on a mortgage loan in New Jersey Superior Court. Through a combination of defenses and counterclaims in the foreclosure...more

Holland & Knight LLP

CFPB Proposes New Restrictions on Mortgage Servicers Before Commencing Foreclosures

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The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more

Orrick, Herrington & Sutcliffe LLP

VA asks all mortgage servicers to pause all VA foreclosures, extends the Covid-19 Refund Modification program

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On November 17, the U.S. Department of Veterans Affairs (VA) asked all mortgage servicers to pause any foreclosure proceedings of VA-guaranteed loans, as well as extended its Covid-19 Refund Modification program through May...more

Kohrman Jackson & Krantz LLP

Rising Vacancy Rates in Downtown Office Buildings May Cause Wave of Commercial Foreclosures

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The COVID-19 pandemic has brought about significant changes in work dynamics, leading to a rise in vacant office buildings across the United States. Remote work arrangements and the adoption of flexible work models have...more

Orrick, Herrington & Sutcliffe LLP

CFPB says servicers should suggest sales over foreclosures for some borrowers

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On January 20, the CFPB encouraged mortgage servicers to advise homeowners struggling to pay their mortgages that a traditional sale may be better than foreclosure. The Bureau reported that due to the Covid-19 pandemic many...more

Buchalter

CFPB Publishes Information Request Concerning Making COVID Mortgage Foreclosure/Loss Mitigation Relief Rules Permanent

Buchalter on

On September 27, 2022, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information Regarding Mortgage Refinances and Forbearances. The Request indicates that the CFPB is considering making the COVID...more

Holland & Knight LLP

Need to Foreclose on a Mortgage? Where Can You Bring Your Action?

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In response to the COVID-19 pandemic, many states enacted, by executive order or otherwise, rules that have created both legal and procedural hurdles to a lender's ability to exercise its contractual rights, including the...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know (Spanish) - April 2022

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EXPULSIONES- ¿Me pueden expulsar de mi casa como resultado de un procedimiento de ejecución hipotecaria durante la emergencia sanitaria por la COVID-19? Si. La moratoria estatal de desalojos para los propietarios que...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know - April 2022

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REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? Yes. The state eviction moratorium for homeowners facing foreclosure ended on November 15, 2021. (See...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know (Spanish) - March 2022

Lowenstein Sandler LLP on

EXPULSIONES- ¿Me pueden expulsar de mi casa como resultado de un procedimiento de ejecución hipotecaria durante la emergencia sanitaria por la COVID-19? Si. La moratoria estatal de desalojos para los propietarios que...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know - March 2022

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REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? Yes. The state eviction moratorium for homeowners facing foreclosure ended on November 15, 2021. (See...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know - December 2021

Lowenstein Sandler LLP on

REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? Yes. The state eviction moratorium for homeowners facing foreclosure ended on November 15, 2021. (See...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know (Spanish) December 2021

Lowenstein Sandler LLP on

EXPULSIONES- ¿Me pueden expulsar de mi casa como resultado de un procedimiento de ejecución hipotecaria durante la emergencia sanitaria por la COVID-19? Si. La moratoria estatal de desalojos para los propietarios que...more

Tarter Krinsky & Drogin LLP

Law Brief®: Robert Wolf, Alexander Tiktin and Richard Schoenstein Discuss the Continuing Foreclosure/Eviction Moratorium

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On the latest Law Brief® episode, Bankruptcy and Corporate Restructuring Partner Robert Wolf and Associate Alexander Tiktin join host, Richard Schoenstein to discuss the current status of the COVID-19 foreclosure and eviction...more

Bilzin Sumberg

New Class Action Claims Non-Compliance with Mortgage Forbearance Mandates

Bilzin Sumberg on

Millions of homeowners have signed up for a forbearance under the CARES Act, which gives homeowners with a federally-backed mortgage loan the right to obtain a temporary reduction or suspension of mortgage payments by way of...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know - October 2021

Lowenstein Sandler LLP on

REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106. Under this order,...more

Blank Rome LLP

U.S. Supreme Court Blocks Enforcement of a Limited Part of New York’s COVID-19 Emergency Eviction and Foreclosure Prevention Act

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Financial institutions, lenders, and servicers should take note that the United States Supreme Court (“SCOTUS”) granted an injunction filed by plaintiffs-landlords seeking to prevent the enforcement of New York’s COVID-19...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - August 2021

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Ballard Spahr LLP

While Foreclosure Moratorium Ended, FHFA, HUD, VA and USDA Extend Eviction Moratoria

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The Centers for Disease Control and Prevention's (CDC) eviction moratorium expired on July 31, 2021. Meanwhile, at President Biden's request, the Acting Director of the Federal Housing Finance Agency, and the Secretaries of...more

Perkins Coie

Certain Foreclosure Moratoria Set to Lift on July 31

Perkins Coie on

At the close of this month, certain moratoria on foreclosures and evictions are set to lift. While prior deadlines have been extended, it remains to be seen whether another continuance will be granted amidst an increase in...more

Goodwin

House Votes to Repeal OCC True Lender Rule

Goodwin on

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Ballard Spahr LLP

CFPB Issues Final COVID-19 Mortgage Servicing Rules

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On June 28, 2021, the CFPB issued its Mortgage Servicing COVID-19 Final Rule (the Final Rule). The Final Rule, which amends Regulation X, is effective August 31, 2021, and comes at the same time as certain related updates...more

Goodwin

CFPB Finalizes Amendments to Regulation X to Protect Borrowers Against Forthcoming Increase In COVID-19 Foreclosures

Goodwin on

On June 28, 2021, the Consumer Financial Protection Bureau (CFPB) finalized amendments to the implementing regulation of the Real Estate Settlement Procedures Act (RESPA), Regulation X, which would establish temporary...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know - July 2021

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REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more

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