{"id":123,"date":"2020-04-21T05:42:00","date_gmt":"2020-04-21T05:42:00","guid":{"rendered":"https:\/\/www.brandonlawyer.com\/?p=123"},"modified":"2023-09-15T06:47:25","modified_gmt":"2023-09-15T06:47:25","slug":"five-things-you-must-know-to-protect-your-home-during-the-covid-19-financial-crisis","status":"publish","type":"post","link":"https:\/\/www.brandonlawyer.com\/blog\/2020\/april\/five-things-you-must-know-to-protect-your-home-during-the-covid-19-financial-crisis","title":{"rendered":"Five Things You Must Know to Protect Your Home During the COVID-19 Financial Crisis"},"content":{"rendered":"\r\n\r\n\r\n
We are now about a month into this financial crisis and if you have lost your job or\u00a0have reduced hours at work, I\u2019m sure you\u2019re worried about how you will make your mortgage payment when it comes due. Thankfully, the CARES Act provides some relief\u00a0for\u00a0homeowners.\u00a0Here are the top 5 things you must know about the CARES Act as it relates to your mortgage.\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n
The CARES Act only applies to federally backed mortgages- A federally backed mortgage is a mortgage that is guaranteed by FHA, VA,\u00a0or the\u00a0USDA, or\u00a0that has been sold to Fannie Mae or Freddie Mac.\u00a0Approximately 70% of the mortgage loans in the United States are either federally guaranteed or owned. You can check your loan documents to determine if you have federally guaranteed loan but it is a little harder to determine if you loan has been sold to Fannie or Freddie.\u00a0Here is the link to determine if your loan is owned by Freddie Mac:\u00a0https:\/\/ww3.freddiemac.com\/loanlookup\/\u00a0 Here is the link to determine if your loan is owned by Fannie Mae\u00a0https:\/\/www.knowyouroptions.com\/loanlookup<\/a>\u00a0<\/p>\r\n<\/li>\r\n\r\n\r\n\r\n