The Second Order Generalized Integrator–Frequency Locked Loop (SOGI-FLL) is a widely used and popular adaptive filter for estimating grid voltage parameters with minimal computational burden. However, it is vulnerable to voltage sag and swell faults, especially voltage sags that can significantly distort the estimated frequency. In this paper, we propose an error-and-hold algorithm for the SOGI-FLL that can quickly detect faults and hold the estimated frequency during these perturbations. The algorithm uses the absolute value of the SOGI's error, its average, and the average of the FLL's estimated frequency to operate. It reduces induced errors in the SOGI-FLL's quadrature outputs, improves the FLL's transient response, holds the estimated frequency, and restores the phase to its previous value before the fault. The proposed algorithm is a straightforward and low computational burden algorithm that can be executed on a low-cost processor. We validate the effectiveness of the proposed error-and-hold algorithm through simulations and experimental results.