COVID-19 – Foreclosures If you are unable to pay your mortgage as a result of the Covid-19 crisis, you should contact your mortgage lender immediately.  Most mortgage lenders are working with homeowners to help you retain your property.  However, you MUST contact your lender.  Programs that are available are not automatic and will likely require you to complete an application. In Cook County, there is a moratorium of foreclosure cases.  The following is a summary of how the Covid-19 crisis has affected foreclosure cases in Cook County. Foreclosure Moratorium on Residential Real Property “federally backed mortgage loan” includes any loan secured by a first or subordinate lien on residential real property (including condominiums and cooperatives) on 1-to 4-unit buildings which are either insured or guaranteed under FHA, VA, and certain other programs or which are purchased or securitized by FHLMC or FNMA. Allows borrower to request forbearance on a federally backed mortgage loan for up to 180 days which shall be extended for an additional 180 days at borrower’s request,     subject to borrower’s request to shorten the period. All borrower needs to do is submit a request to the servicer affirming that borrower is experiencing a financial hardship during the COVID-19 emergency. Makes no difference if borrower was delinquent at the time of the request. during forbearance period, no fees, penalties, or interest shall accrue [...]