Summary of Foreclosure Alternatives for Borrowers with Covid-19 Hardships
This chart by the National Consumer Law Center (NCLC) provides a summary of relief options available for borrowers facing a COVID-19 related hardship. The options that a borrower has depends on the loan investor. For loans it covers, Section 4022 of the Coronavirus Aid, Relief, and. Economic Security (CARES) Act requires forbearance for borrowers with COVID-19 hardships and some investors have expanded on those provisions.
For more detailed analysis, read "Mortgage Relief for Homeowners Affected by COVID-19" on NCLC’s Digital Library here: https://library.nclc.org/mortgage-relief-homeowners-affected-covid-19.
[This webpage was last reviewed and updated on: 8/19/2020.]