Jun 22

CFPB Warns Mortgage Servicers to Start Complying with CARES Act Protections

On June 19, 2020, the Consumer Financial Protection Bureau (”CFPB”) put mortgage servicers  on notice, urging them to comply with credit reporting obligations amid record numbers of consumer complaints.  The CFPB saw its highest-ever complaint volumes in April and May 2020, due to COVID-19-related complaints.  Complaints about mortgages were most common among the COVID-19-related complaints. […]

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Jun 19

If You Are Having Trouble Obtaining Adequate Relief from Your Mortgage Servicer

COVID-19 has caused not just a health crisis.  For many New Mexico families, it has also caused an economic crisis. Most mortgage servicers are allowing homeowners to defer payments for three months.  Most are also requiring full payment for the deferred three months, plus the fourth month payment, on month four.  This solution is no […]

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Jun 12

New Mexico Protects Garnishment of Stimulus Checks

  On June 5, 2020, the New Mexico Supreme Court ordered that all garnishments in collection lawsuits against consumers were stayed until further notice because of COVID-19.  This Order protects stimulus checks from garnishment.  Garnishments related to child support or spousal support are not stayed.  A copy of the Order and the Press Release are […]

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Jun 02

Post-Forbearance Options for Homeowners

Many homeowners are questioning whether it is prudent to take advantage of the forbearance plans currently offered by mortgage servicers.  They are concerned that the forbearance plans may leave them worse off since most are for three months with a lump sum payment for the three months in arrears, plus the fourth month, due on […]

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May 14

Creditors, Mortgage Servicers, Landlords and Debt Collectors Are Ignoring COVID-19 Protections

  Provisions of the CARES Act and consumer protections enacted by the New Mexico Governor or the New Mexico Supreme Court are being ignored by creditors, mortgage servicers, landlords and debt collectors.  Garnishment, foreclosure and evictions should not be happening in many instances.  Even the threat to garnish, foreclose or evict might be a violation […]

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Picture of phone receiving call May 05

New Mexico Superintendent of Insurance Sets Up Call Center to Address Health Insurance Questions Related to COVID-19

New Mexicans with questions about health insurance coverage related to COVID-19 now have a call center for quick answers.  On May 1, 2020, the Office of the Superintendent of Insurance launched the toll-free call center.  It will answer questions 8 a.m. to 6 p.m. Monday through Saturday. Consumers are urged to call the call center […]

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money on envelope Apr 22

Unfair Garnishment of Stimulus Checks in New Mexico

The CARES Act was supposed to get money directly to Americans quickly. Folks need it. They are out of work through no fault of their own. Unlike many other states, New Mexico has not acted to protect stimulus checks from unfair garnishment. Since so many New Mexicans have nothing to fall back on, this failure […]

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Apr 18

COVID-19 Protections Available for Fannie Mae Mortgages

Many mortgages are held by Fannie Mae.  Although you make your payments to another company – called the mortgage servicer – Fannie Mae, which is a quasi-governmental entity, holds the mortgage.  In response to the CARES Act, Fannie Mae has issued instructions to the servicers of its mortgages. Treinen Law Office PC is happy to […]

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Family car with dad and son Apr 13

Auto Insurers Are Reducing Premiums, Giving Refunds and Promising Not to Cancel for Non-Payment

The COVID-19 pandemic has caused business shutdowns.  It has caused reduced income for many Americans.  Stay-at-home orders have cleared traffic from roads across the country.  Eleven of the largest auto insurance companies say they will give back a portion of premiums to policyholders because they have fewer accidents to cover.  Other companies will likely follow. […]

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Apr 11

New Mexico Acts to Protect Renters and Consumers

In these difficult COVID-19 times, many are out of work or working fewer hours through no fault of their own.  Promised stimulus checks have been held up or will come too late.  Things are tight.  New Mexico has put in place protections for renters and consumers. Sheriffs have been directed to NOT serve eviction orders.  […]

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