MFI-Miami Blog

Call The Rushmore Loan Management COVID-19 Foreclosure Defense Hotline At 888.737.6344  MFI-Miami has created a Rushmore Loan Management COVID-19 Foreclosure Defense Hotline. If you're facing foreclosure from Rushmore Loan Management during these perilous times the coronavirus, we can help. Call 888.737.6344. The coronavirus pandemic has put America is in a crisis. MFI-Miami is doing our part to help during these perilous times. Unfortunately, Rushmore Loan Management doesn't see it that way. They have ignored President Trump's call for a payment and foreclosure moratorium. Yes, we know this for a fact. An MFI-Miami client was served with a foreclosure lawsuit by Rushmore Loan Management during this national emergency. As a result, MFI-Miami has created a foreclosure defense team exclusively for Rushmore Loan Management. The team's focus will solely be on helping homeowners develop strategies to fight Rushmore Loan Management! The Rushmore Loa...

Hoping To Get A Coronavirus Stimulus Check? Here are 10 Reasons You May Not Get One I bet you have your eye on that 70-inch flat-screen TV at Walmart, huh? You’re counting down the days for your coronavirus stimulus check to buy it. Well, my friend, get your hopes up and spend that money yet. Why? You may not be getting that $1200 that President Trump promised you. Here are five reasons you may not get one: 1. College Students And Their Parents Who Still Claim You As A Dependent Won’t Receive A Coronvirus Stimulus Check You won’t get a check if someone else claims you as a dependent on their taxes. The bad news is neither will mom and dad if you’re a college student. Nearly 20 million college students who are claimed by their parents as dependents are ineligible to get checks. They won’t get checks and their parents won’t get an extra $500. Read more at MFI-Miami

Four More American Banks To Follow BofA’s Lead By Offering Relief To Homeowners Affected By The Coronavirus Four more American banks are  offering to defer mortgage payments  for 90 days due to the coronavirus crisis. The four banks include JPMorgan Chase, Wells Fargo, Citibank, and US Bank. The four American banks follow Bank of America. However, Bank of America’s plan is to work homeowners on a month-to-month basis until the crisis is over. Homeowners with Fannie Mae, Freddie Mac, and FHA loans are already eligible.  JP Morgan Chase, US Bank, Wells Fargo, and Citibank will postpone foreclosures. They will also offer forbearance on mortgage payments for 90 days. In addition,  200+ state-chartered banks and credit unions in California  have also agreed to the mortgage relief.  The four banks made their announcement as 3 million new unemployment claims were filed in the week of March 14 – 21.  In addition, authorities in at least 20 state...

Mortgage Servicers Expect Annihilation Due To The Coronavirus And Are Lining Up For Trump Bailouts Mortgage servicers are already waiting in line for their corporate welfare checks from the Trump administration. The Mortgage Bankers Association said deferred and late mortgage payments because of the coronavirus could  trigger a financial nightmare for mortgage servicers. Fannie Mae and Freddie Mac have instructed servicers to suspend all foreclosure actions and evictions for at least 60 days.  HUD who handles FHA  mortgage loans  also soon followed suit. However,  not all mortgage loans  are included in the Trump Administration moratorium.  The MBA sent a  letter  to Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell begging the government for a bailout.  MBA CEO Robert D. Broeksmit asked for the Federal Reserve and Treasury to develop a liquidity plan to support the mortgage servicing sector. ...

New York State Orders Mortgage Servicers To Give 90-Day COVID-19 Mortgage Relief To New York Homeowners  Governor Andrew Cuomo and New York State  orders lenders and mortgage servicers  to step up their mortgage relief efforts. The New York Department of Financial Services demanded servicers let certain residents skip their mortgage payments for 90 days. Cuomo announced the statewide 90-day mortgage relief period on Thursday. NYDFSis directing mortgage servicers to offer several options to the state’s residents: Waiving mortgage payments based on financial hardship No negative reporting to credit bureaus Grace period for loan modification No late payment fees or online payment fees Postponing or suspending foreclosures NYDFS also sent  letters  to the mortgage servicers that operate in the state: An increasing number of individuals are experiencing a sizeable disruption in their everyday lives. The economic impact to consumers is considerab...