Notice: We are still operating during the COVID-19 crisis. However, we are not allowing visitors to our office and most of our staff is operating remotely. Our attorneys and staff are still available to help you by phone and email. If you get our voice mail, please leave a message and it will be returned promptly. There may be delays with mail due to the crisis, so please try to send documents by email after submitting a contact form here or fax to 312-419-0379, if possible.

Mortgage relief because of coronavirus outbreak

Homeowners who have lost income or their jobs because of the coronavirus outbreak may be eligible to have their mortgage payments reduced or suspended for up to 12 months. Fannie Mae and Freddie Mac , which guarantee or own about 50% of all home loans in the United States, are ordering lenders to offer homeowners reduced payments or a suspension of payments for up to 12 months.   See  and

Borrowers must contact their mortgage company and work out a payment plan and cannot just stop paying their mortgages. Applications may be handled by telephone.

The plan is not a forgiveness of debt; borrowers are expected to work out a repayment plan or extend the term of their loan.

Fannie Mae and Freddie Mac are also directing lenders not to report people to the credit bureaus for late or missed payments if they are in one of these forbearance plans, and to halt foreclosures.

Fannie Mae and Freddie Mac have easy loan look-up websites to determine if they own a mortgage.  See and

Many other financial institutions are offering similar relief. In all cases, it must be requested.

Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA), Department of Veterans Affairs (VA), and the U.S. Department of Agriculture’s Rural Home Service (RHS) are also imposing a 60 day moratorium on foreclosures and evictions.