Recently, you may have read in the newspaper or heard on the radio that because we are in a flood damaged area that has been declared a disaster area that there is a ninety day moratorium, or temporary pause, in the foreclosure process.
It is important that people understand that this applies only to houses that are directly affected by the flood and not to anyone within the affected county. This means that your house was damaged or destroyed by the flood.
If your house was not damaged by the flood and it is in the foreclosure process or about to enter the foreclosure process you still need to take immediate steps to resolve the issue with your mortgagee/lender either directly or through the use of an attorney or credit counselor.
If your home was not directly damaged by the flood, but you suffered economic loss that has an impact your ability to pay your mortgage you may be able to qualify for the same ninety day moratorium. This will be handled on a case by case basis and you will need to provide evidence of your economic loss and need for the moratorium to apply to your mortgage as well.