On August 31st, 2020, the Pennsylvania moratorium on foreclosures and evictions expired. According to Governor Wolf, only the Pennsylvania General Assembly can further extend those protections. Meanwhile, the national moratorium is still in effect through the end of the year in many cases. So, what does this mean for your home?
Many people would argue that their home is still protected because the federal government’s moratorium is still in effect. While the federal government’s policies can override a state’s position in many cases, this is not one of them. There are different kinds of mortgages through different programs that change what rules and regulations impact your loan. Therefore, whether or not your home is at risk of foreclosure at this point largely depends on what kind of mortgage you have.
A Chapter 13 bankruptcy reorganization may be exactly what you need to catch up on your payments to your mortgage company and save your home. At the same time, a reorganization can address any other kinds of debt that you may have. Call my office at 610-323-5300 to discuss whether your home may be at risk and whether a bankruptcy filing would put you in a better financial position moving forward.