MIAMI- Financial institutions tapped the brakes on foreclosures in 2020 and most of 2021, as a federal moratorium gave the millions of homeowners who lost a job due to Covid-19 some financial breathing room. Many took the route of pursuing loan modifications, in a process that was abused by some banks even during the worst of the crisis.
Now, with most statutory protections gone, financial institutions are back to their old, bad habits. Millions of homeowners still looking to make good on their mortgages are stuck between a rock and a hard place — asking the bank for relief while holding a deep suspicion that they will be taken advantage of.
On April 7, the Miami-Dade Bar Association’s Foreclosure Committee hosted a virtual panel so that homeowners can learn how to protect themselves.
At this panel, industry experts talked about homeowners’ rights, how to fight dirty tricks from lenders, and what they can do to avoid being scammed if they are requesting a loan modification.
“It’s been a true privilege working with the Miami-Dade Bar Association to put together such a stellar group of experts,” said Laura Wagner, Executive Director of Floridians for Honest Lending, “Our goal is to help people fight and expose the one-sided and unfair nature of the foreclosure process in many cases. With those foreclosures ticking up, we fear fraud will become as endemic as it was during the last big crisis in 2009. We’re here to help and know this panel can help many people.”
Watch the livestream of the event here:
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