Avoiding Foreclosure During the COVID-19 Pandemic
A lot of business activities halted as a result of the coronavirus pandemic, and millions of people are out of work for the foreseeable future, with the likelihood of more people joining in. Over 33 million new unemployment claims were filed and with the job losses on the high scale, recovery will be very slow irrespective of the federal stimulus. So, how will those that have lost their source of income be able to keep a roof over their heads? Many people will fall behind on their mortgage and rent payments, and this will result in a looming foreclosure predicament. In this article, we will discuss how renters and homeowners can protect themselves and avoid foreclosures during this pandemic.