The Consumer Financial Protection Bureau (CFPB), a federal agency focused on consumer security - issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections end. 

Currently, over 11 million families are behind on rent or mortgage payments. Homeowners alone are estimated to owe over $90 billion in missed payments. 

CFPB says that the federal government is going to great lengths to protect homeowners and renters. 

Recent action by the Federal Housing Finance Agency (FHFA), the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the U.S. Department of Agriculture, prohibit lenders from foreclosing on most mortgages until June 30, 2021.

After June 30, families who cannot resume regular payments will need to make arrangements with their lender to avoid foreclosure. 

Learn more here

Search Articles...

Membership Plans

Subscribe to the Chicago Condo Resource to access our Members Only Content.

Subscribe to Newsletter

Seminars & Events

Tue Dec 07 @12:00PM - 01:00PM
Challenging Times Create Opportunities While Difficult Times Define You
Tue Dec 07 @ 6:00PM - 07:00PM
Condominium Deconversions
November 2021
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30