Special CoronaVirus Legal Task Force

CoronaVirus Legal Task Force

With the far-reaching impacts of the CornoaVirus, many people and small businesses will be severely affected financially and possibly with long-term impacts.

In consultaiton with partnering lawyers and other professionals, we have put together a Legal Task Force to share resrouces and information to assist in this difficult time.

Issues we are following (updated 4-10-20)

Many people have already been layed-off, especially service workers in the restuarant and hotel industry, causing immediate problems due to loss of income. The government has responded with a number of relief solutions but we can see there will still be people left out who won't be able to receive this assistance. Particulalry self-employed people and gig-economy works who have absulitely no safety net.

Here is what we are seeing right now:

  • Landlord/Tenant issues - rent is due and landlords want to be paid.
  • Active Chapter 13 cases where people can't make payments.
  • Mortgage payment issues - mortgage payments are due and not all mortgage companies are participating in assistance programs.
  • Small Business debt issues - although the government is offering low or no-interest loans, this may not be a solution for many small businesses leaving them with no support.
  • Credit Card debt issues - so far, there has been no talk of relief for credit card payments which are due.
  • Gas and electric and other utilitutes - so far, we have not heard of any forebearance or other relief on utilities.
  • Medical expenses - many will have lost employment-based health insurance and may have incurred significant medical expenses while un-insured.
  • Unemployment benefits are not available to self-employed and gig economy workers.
  • Federal And State Governments slow to act causing additional financial harm.

Relief Programs

  • Government-backed mortgage relief - FHFA announced a payment forbearance to borrowers impacted by the coronavirus which allows for a mortgage payment to be suspended for up to 12 months due to hardship caused by the coronavirus. This applies to up to 90% of all mortgages. Right now, all you have to do is show you lost your job with no requirmenets for documentaition (although I'll be that won't last for long). Contact your mortgage servicer right away to apply for this relief.
  • HUD 60-day moratorium - immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages for the next 60 days
  • State of NJ encourages regulated businesses to work with consumers - "We encourage entities regulated by the department to take into consideration the difficulties consumers and businesses have endured and will continue to endure due to the effects of the pandemic and to work with them.  It is important to recognize that employees of many affected industries will face financial hardship, particularly those who already struggle to make ends meet.”
  • State of NJ eviction moratorium - This move will ensures that no renter or homeowner is removed from their residence while this Order is in effect.
  • State of NJ water supply - suspension of any water shut offs for reasons of non- payment until the outbreak of COVID-19 has subsided.

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How We Can Help

  • Beginning last week, we have been in contact with lawyers, trustees, judges and government officials to advocate for meaningful relief programs to address the problems we are seeing within our client community.
  • We are monitoring and studying new relief programs as they are announced and developing strategies for our clients to best take advantage of those programs.
  • We will continue to post updates here and through emails as we learn more.
  • We are offering free consultaitons to anyone who wants to ask questions about any of these programs or any issue they may be having that has not been addressed.
  • Feel free to call or schedule a call (see my calendar below) to discuss any matter that is concerning you right now.

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