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24

Mar 2020

Bankruptcy Trustee Hearings Postponed Due to Virus

Posted by / in Blog, Virginia Bankruptcy, Weekly Posts /

The Bankruptcy Court is Alexandria is Postponing the Trustee Hearings.

Because of the corona virus, bankruptcy hearings in Alexandria VA scheduled up through April 10 are postponed. (I’m guessing the rest of April will get postponed, too.)

Postponed Until When?

There’s no news on when they will be reschedule, or how.

Some courts have adopted call-in hearings. No word on that here.

What do I need to do?

The bankruptcy trustees are still nagging us to get the bank statements in on schedule. So if you haven’t sent us your bank statements or your 2019 tax papers, please send those in to your paralegal.  And I’m guessing they will want you to send in a proof of your drivers license and social security card. So take that picture now, so you have it. (Or scan, if you have a scanner.) 

Don’t forget to take the second class.

And if you haven’t yet, don’t forget to take the second class, at Moneysharp.

 

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23

Mar 2020

Many Foreclosures Get a Virus Hold

Posted by / in Blog, Weekly Posts /

The Federal Government is Pausing Foreclosures on Mortgages They Control.

Last week the Federal Housing Finance Agency announced a 60 day pause on foreclosures on mortgage loans the government controls. Those are mortgage loans controlled by Fannie Mae or Freddie Mac.  (Fannie and Freddie were government backed, private businesses. The government bailed them out during the housing crisis in 2008, and they are still pretty much government run.)

Are you wondering if this applies to your mortgage?

Both Freddie and Fannie have websites where you can see if they own your loan.

Here’s the Freddie lookup.

Here’s the lookup for Fannie.  

Foreclosure notice

In March, the government announced a 60 day foreclosure pause, on mortgages the government controls.

Does this apply to any other loans? FHA and VA

The 60 pause also applies to loans backed by the FHA–Federal Housing administration. There doesn’t seem to be any one place you can look up whether your loan is an FHA loan.  I sometimes see it on some credit reports. (Sometime’s isn’t much help.) Your closing papers when you financed the house are supposed to show that somewhere. And I guess you can call your mortgage servicer and ask.

The 60 pause also applies to loans backed by the VA.

 

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NORTHERN VIRGINIA BANKRUPTCY LAW OFFICES