The Federal Government is Pausing Foreclosures on Mortgages They Control. Last week the Federal Housing Finance Agency announced a 60 day pause on foreclosures on mortgage loans the government controls. Those are mortgage loans controlled by Fannie Mae or Freddie Mac.  (Fannie and Freddie were government backed, private businesses. The government bailed them out during […]

The Federal Government is Pausing Foreclosures on Mortgages They Control. Last week the Federal Housing Finance Agency announced a 60 day pause on foreclosures on mortgage loans the government controls. Those are mortgage loans controlled by Fannie Mae or Freddie Mac.  (Fannie and Freddie were government backed, private businesses. The government bailed them out during […]

March 21, 2020: Federal Tax Day Moved from April 15 to July 15, but only for Federal Taxes (at this time)
According to the IRS:

New Laws: Emergency Family and Medical Leave, Emergency Paid Sick Leave
Families First Coronavirus Response Act  became law March 18, 2020
Two parts of this Act that effect us today:

Families First Coronavirus Response Act, March 18, 2020
H.R. 6201 was signed into law March 18, 2020
Two parts of this Act that effect us today:

What Federal Lenders are Doing Regarding Foreclosures During the COVID-19 Crisis
As of 3/20/20: NOTE THE FOLLOWING ARE ALL FEDERAL LOAN PROGRAMS:
Attached is a list of what the different lenders are doing in regard to foreclosures:
FHA Insured Single-Family Mortgages and Home Equity Conversion Mortgages:

Important information for all Tenants, Homeowners and Consumers during the COVID-19 Pandemic from National Consumer Law Center
The COVID-19 pandemic has caused widespread disruption in the daily lives of millions of people worldwide, and the hardest hit are the vulnerable people, families, and communities at the core of NCLC’s mission, and likely at the heart of our everyday life.

From:Crain's New York Business
By: Gwen Everett

https://www.crainsnewyork.com/coronavirus/banks-waive-mortgage-payments-90-days?utm_source=breaking-news&utm_medium=email&utm_campaign=20200319&utm_content=hero-readmore

Affluent Taxpayers and the Discharge of Taxes in Bankruptcy 

In these difficult times, many clients have contacted Shenwick
& amp; Associates asking  whether they should file for
bankruptcy and whether the taxes they owe are dischargeable
in bankruptcy. Both bankruptcy law and tax law are code
oriented and the intersection of those two areas of the law
can create complexity and confusion.  

How can you best protect yourself when the national and local economies are rocked by unexpected disruptions?Almost overnight, the spread of the COVID-19 coronavirus has decimated dozens of industries – food service, hospitality, retail, transportation, education, government and any business that relies on face to face interaction.While the government is promising some relief and some creditors are offering short term deferments, the likelihood is that business will not return to normal anytime soon and that we have entered into a “new normal.”So how do you respond?As I discuss in the video