Insights

The Coronavirus Economic Stabilization Act of 2020 (CARES Act) provides for a borrower to obtain a forbearance on a federally backed mortgage loan. However, how the forbearance agreement is handled in the bankruptcy court or the chapter 13 trustee's office often differs from jurisdiction to jurisdiction.

There's good news on the horizon for both homeowner landlords and tenants within the city of Cleveland. Last week, the administration of Cuyahoga County Executive Armond Budish proposed providing $6.8 million in rental assistance to people unable to afford rent due to the economic downturn brought on by the pandemic.

Now that perhaps the majority of the CARES Act forbearance agreements have been processed, the Consumer Financial Protection Bureau (CFPB) and the Conference State Bank Supervisors (CSBS) have issued their joint guidance for mortgage servicers to clarify some of the questions that have been raised.

As a creditor, managing your rentals is part of your business which means, the eviction process, too, falls on your lap. Partnering with a trusted creditors' rights law firm, such as Weltman, can help you avoid any pitfalls along the way.

To address some of the issues raised by the pandemic shutdown, Congress passed the Coronavirus Aide, Recovery, and Economic Security Act (CARES Act), which, among other things, amended the SBRA to give struggling businesses additional options an attempt to survive the shutdown.

With the COVID-19 pandemic continuing to wreak havoc on everyday life, both renters and low-income homeowners are feeling the pressure. As Ohio begins to reopen, the question has arisen: What will life look like on the other side of this?

As the impacts of the COVID-19 pandemic continue to reverberate throughout the economy, the industries that appear to be especially hard-hit are the apparel and footwear retailers operating physical storefronts.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law in response to the COVID-19 pandemic. It instituted a temporary moratorium on evictions for non-payment of rent from a "covered dwellings" for a period of time. This has raised a plethora of questions that we have answers for.

Right now is a perfect time to revisit or write a collection policy for your organization. Consider these four things to include in your collection policy to improve your receivables and increase your cash flow.

The COVID-19 crisis has impacted people in a variety of different ways. Based on our perspective from the creditors' side, we look to provide some insight on how you can best protect yourself currently.