Does the CARES ACT foreclosure moratorium apply for my loan?

Stop foreclosure

The Executive Order by President Biden extending the CARES ACT moratorium on foreclosures until March 31st doesn’t necessarily apply to everyone. That’s critical news not effectively covered in the media.

For more info, let’s turn to consumer rights and foreclosure defense attorney Josh Denbeaux who clarified in his recent podcast it applies to your mortgage loan if it’s federally backed.

That means Fannie Mae, Freddie Mac, FHA or VA loans.

While this moratorium may feel like a safety net, it’s important to take action now! The first step is to find out if your loan is owned by a federally backed lender.

Is my loan federally backed
Who owns my loan? Is it federally backed?

Is my loan federally backed?

How would you know? Start with the following links to research who owns your loan. You’ll need your loan number and SS#:
Fannie Mae Loan Lookup
Freddie Mac Loan Lookup
– FHA requires a phone call – 877-622-8525

If it applies to your loan, you should exercise it. That means it’s time to take aggressive action such as extending a forbearance.

Use the moratorium to find a solution. To start, find more information on forbearance options at CARES ACT Mortgage Forbearance published by the Consumer Finance Protection Bureau.

To benefit successfully from the foreclosure moratorium, it’s critical to take action. You have options!

Can I sell my home now?

Selling your home now may be an option. Our strong sellers market may support a successful sale to pay off your loan. But if values are under water we can negotiate a short sale during the moratorium, save your credit, resolve the deficiency and create a fresh start.

For an instant estimate on your home’s current value visit

How can I stop foreclosure?

In some cases, legal action could stop the foreclosure altogether depending on when and how the foreclosure was filed. Contact me for a referral to a lawyer who specializes in fighting the banks.

If you are at risk of foreclosure, have a forbearance in place or need one, this is the time to act. Start with my overview of options at

Can short sales work?

Misinformation is stopping many home owners from getting the help they need. Check out – Top 10 myths about short sales for the truth about short sales. We can stop foreclosure and resolve your debt.

What to do next?

Contact me for help with resources and referrals. There are many options but they all require proactive action by the home owner.

If you’re interested in buying distressed properties, be sure to check out my short sale buyers guide and then let’s talk.

Luxury Short Sale Failure on the Main Line

What do you think of when you hear words like “foreclosure” and “short sale”?? Most don’t think of multi-million dollar estate homes. But sometimes luxury home owners face impossible situations. Like a home that’s worth only 1/2 of what it was in the peak of the market, or simply “under water” on values and the market won’t support a successful sale.

No one is exempt from tragedies like a medical crisis that can turn your life upside down, no matter what your income bracket. I’ve found my luxury clients face some additional challenges.

While many people suffer from lack of resources, on the other hand bad information can come from high net worth advisers who mean well but don’t specialize in avoiding foreclosure.

This home was on the market for $3.5M and failed as a short sale and went to foreclosure. Now it’s listed by the bank for $1.9M.

For instance, a client of mine was given advise by her attorney to make significant repairs / improvements prior to selling based on a Zestimate. It wasn’t a correct valuation and ended up causing the owner to incur more debt instead of simply resolving the bad mortgage.

No matter what the situation is, please contact me. No one has to go to foreclosure. There are options! Book a 15-minute confidential consultation with short sale expert Susanna Kunkel.

Note: After a price reduction to $1,695,000, 1425 Pleasant Road closed Nov 30, 2020 at a final price of $1,325,000.