Let's set the record straight first—there's no such thing as "skipping" mortgage payments. The recently announced mortgage payment relief through the CARES Act provides mortgage forbearance for those who have lost a job or are suffering financial hardship due to the coronavirus pandemic and whose loan is federally owned or backed by a federal agency. Reach out using the contact info on your loan statement to determine what help may be available to you. It’s vital that you discuss the options based on your situation. If assistance is available, be sure to get your agreement in writing. Please...READ MORE
It's important to know the different mortgage relief options so you can make the best choice. Take a look at some of the options here: Forbearance This is the plan everyone is talking about since the passage of the CARES Act. It’s an agreement with your lender to reduce or delay regular payments for a set time. When the forbearance period ends, the postponed payments will be due all at once. Learn more about Forbearance here. Modification This is a legal process that alters the terms of your loan. For instance, a modification could lower your monthly payments by lengthening your loan term. Deferment This...READ MORE
While most people want to help each other weather difficult times, there may be individuals who selfishly see disasters as an opportunity to profit. It’s important to be diligent and on the lookout for those trying to take advantage of these circumstances. During this time, individuals may become aggressive in trying to gain sensitive personal information or collect donations for fraudulent charities. Be wary of any social media requests, texts, or phone calls related to COVID-19. Here’s what you need to know about the most common types of scams and what you can do to protect yourself. Robocalls: Hang up! Don’t press any numbers....READ MORE
You may have heard that the IRS will be extending the deadline to file your 2019 tax returns. The IRS says individuals and businesses can delay filing and paying federal tax bills for 90 days, to July 15th from April 15th , as part of an emergency relief plan amid the COVID-19 pandemic. This relief is automatic, taxpayers do not need to file any additional forms or call the IRS to qualify. Learn what this decision means and whether it’s worth waiting. What Does This Mean For You? Americans who choose to push back their payments with not be penalized, nor will they be charged interest on late payments. If you’re likely...READ MORE
The first priority of Greenway is the health and safety of our team members, clients and communities. If you are facing financial struggles related to COVID-19 that are impacting your ability to make your mortgage payments, please see the information below regarding new mortgage relief options: Overview of The Coronavirus Stimulus Bill Anyone facing a financial hardship from coronavirus shall be given a forbearance on a federally backed mortgage loan of up to 60 days, which can be extended for four periods of 30 days each. The legislation says that services of federally back mortgage loans may not being in the foreclosure process for 60 days from March...READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.