Many homeowners have suffered financial setbacks during the COVID-19 pandemic, and this may have caused them to be unable to make mortgage payments. Government programs have helped protect people who have been affected by COVID-19, including allowing them to receive forbearance on mortgage payments. A moratorium on foreclosures has ensured that those who have defaulted on their mortgage will not be forced out of their homes during this emergency. However, these programs and protections are coming to an end, and lenders may soon begin initiating foreclosure proceedings for those who are delinquent on mortgage payments. To address this issue, the Consumer Financial Protection Bureau (CFPB) recently implemented a temporary rule to ensure that homeowners have options for avoiding foreclosure.

Loss Mitigation Options for Borrowers

While the moratorium on foreclosures for federally-backed mortgages expired on July 31, 2021, the CFPB’s rule has generally prohibited lenders from initiating foreclosures until January 1, 2022. Foreclosures can only be initiated prior to this date if a borrower is not eligible for loss mitigation, if the property has been abandoned, or if a borrower does not respond to communications from a lender regarding loss mitigation.

Borrowers who have been affected by COVID-19 may have qualified for forbearance plans which allowed them to temporarily pause mortgage payments. However, these plans do not pause any delinquency for payments that had not been made prior to entering into a forbearance plan. Because of this, when a forbearance plan ends, lenders may be able to initiate foreclosure proceedings immediately. To address this issue, the CFPB is requiring lenders to contact borrowers between 10 and 45 days before the end of a forbearance plan and advise them of their loss mitigation options. This requirement will remain in effect until October 1, 2022.

In the midst of recent events and surges of support for the Black Lives Matter Movement (BLM), many political protests have surfaced, drawing thousands of people to one area to show their support for racial equality. As some peaceful protests evolve into violent ones, law enforcement officers are wielding their power against protestors, sometimes targeting peaceful protesters in the process. Before attending a protest and exercising your First Amendment rights, it is important to understand what falls under these legal protections to avoid getting involved in a legal matter or criminal case. If you find yourself facing charges, following the proper peaceful protesting guidelines will only strengthen your litigation or personal injury case.

What Rights Does the First Amendment Protect?

The First Amendment is the foundation of American democracy and represents the core values of the United States: freedom of speech. This critical legislation states: