Covid-19 Forbearance Review
McDonnell Property Analytics (“MPA”) offers a low-cost COVID-19 Forbearance Review.
Understanding Your Pandemic-Related Mortgage Changes
At McDonnell Property Analytics (“MPA”), we now offer an affordable COVID-19 Forbearance Review service to help you navigate changes made to your mortgage loan during the pandemic. Our objective is to ensure that your mortgage loan servicer has accurately calculated any deferred principal, interest, and escrow items, which might have been added to the back of your mortgage loan.
Why Review Your COVID-19 Forbearance
Changes to a mortgage loan account can increase the risk of errors. Identifying and correcting mistakes promptly is essential.
With the majority of state and federal foreclosure and eviction moratoria lifted as of December 31, 2021, we anticipate a surge in foreclosure cases, potentially surpassing those seen during the 2008 Financial Crisis.
Our Expertise
The key to addressing mortgage disputes and safeguarding your consumer rights lies in maintaining a comprehensive Mortgage File. This should include your loan origination documents, monthly mortgage statements, real estate tax bills, insurance premiums, proof of payments, correspondence with your mortgage loan servicer, and all documentation related to forbearance plans, loan modifications, and notices of default.
It’s important to note that there are limited continuing education courses available to train professionals in advocating for consumers facing these challenges. MPA is uniquely qualified to assist our clients in evaluating COVID-19 forbearance plans, loan modification agreements, and assessing various loss mitigation options.
Explore Our Case Studies
Case Study – Wrongful Foreclosure (Pennsylvania)
Our Pennsylvania Client faced an active ejectment (eviction) action related to the foreclosure of their primary residence. We researched the securitization structure and identified key defects in the foreclosure process, leading to grounds for dismissal.
Breaking News: CFPB Takes Action
On November 10, 2021, the Consumer Financial Protection Bureau (CFPB), along with other government agencies, announced a return to enforcing critical protections for families and homeowners. These protections, initially established following the Great Recession, are designed to prevent avoidable foreclosures and provide families with alternatives before losing their homes.
“Failures by mortgage servicers and regulators worsened the impact of the economic crisis a decade ago,” said CFPB Director Rohit Chopra. “Regulators have learned their lesson, and we will be scrutinizing servicers to ensure they are doing all they can to help homeowners and follow the law.”
Most homeowners make their monthly mortgage payments to servicers, who are responsible for collecting payments on behalf of the loan owner. Homeowners cannot choose their servicer, leaving them vulnerable to mistreatment without government intervention. This underscores the need for expert assistance in navigating mortgage-related challenges.
Explore the Press Release:
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Learn more about McDonnell Property Analytics
To learn more about how McDonnell Property Analytics may be of assistance to you, please explore our website and check out our case studies. You can contact us at (774) 323-0892.
