What Are The Current Obligations Of Tenants And People Who Owe Mortgages?
There is currently a moratorium on evictions and foreclosures. Most landlords and lending companies understand that people are going through tough times and that the threat of an eviction or a foreclosure is not going to do a lot of good when a person doesn’t even have money to pay for essential items such as food or medication. There hasn’t yet been a lot of thought put into how exactly this moratorium will work. If you have a mortgage foreclosure, typically, there has to be certain notices sent out before there is ever a foreclosure action filed, and then the rest of the rather complicated process follows. There is no information as to what part of the whole process is being forgiven. It Is quite vague and I think there may be some litigation on it at some point. It is certainly going to be interesting to see how it all plays out.
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