During the COVID-19 pandemic, the United States Congress approved the Coronavirus Aid, Relief, and Economic Security (CARES) Act that allows affected homeowners to skip or delay their payments up to a year. In a recent Census Bureau Household Pulse Survey, 1.3 million homeowners stated that “it is somewhat likely” they will have to leave their current living arrangement in the next two months. The survey ended on August 31. There is a big gap in what the CARES Act promises versus what home lenders provide to their borrowers. Borrowers might have a right to worry if their lenders expect payment as soon as the CARES Act is expired.
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The global pandemic, Coronavirus, took every country by surprise, however a large number of countries were proactive to cover their citizens during this period of uncertainty, one of which was the United States of America. The American Government enacted the CARES Act which amongst others, provided stimulus payments to its citizens. The Act was a welcomed initiative to alleviate the hardship that the pandemic posed but a major downside was that it was insufficient and restrictive in its application.
It may seem fruitless to teach small children how money works, but that could not be further from the truth. Helping children to understand the value and purpose of money can lead to a lifetime of sound financial decision-making. However, finance can be a bit of a tough sell to a 5-year-old. Keeping it interesting is an essential aspect of teaching kids anything and finance is no different!
Since the onset of the COVID-19 pandemic, many people have been hit with financial problems. Over 3 million Americans have filed for unemployment with more joining in every day. Even with the stimulus checks given by the government, most people are finding it difficult during this time. Budgeting is a major way to get by and not fall into more debt. Prioritize expenses.
A lot of scammers are using the coronavirus pandemic as an opportunity to steal the money of unsuspecting victims. Senior citizens are the most vulnerable to financial scams and scams in general. According to reports, Medicare scams have increased as a result of the pandemic. Since most people over 60 years old are not interacting with their service providers, friends, or neighbors, they can be swindled with scams that seem legitimate. For people who are ill, using trusted delivery services for food and supplies is the best way to go because these scammers pose as good Samaritans and they run off with your money. In this article, we will take a look at some of the other scams that have surfaced during this COVID-19 pandemic.
The Covid-19 pandemic has affected almost every aspect of daily life from employment to retirement contributions. Since the pandemic began, over 30 million people have filed for unemployment, which goes to show that the financial strategies that most people had have been affected. Most people have halted contributions to their retirement accounts because of the uncertainty of this pandemic period.
Covid-19 came unexpectedly for most individuals, business owners, and countries worldwide. Since a lot of businesses depend on people to thrive, most of them suffered severely as the pandemic progressed. Those in the airline, restaurant, hospitality, and tourism sectors were hit the most during the period. Although some were able to successfully transition to the new digital way of conducting business, others are still scrambling. In this article, we will be taking a look at the big businesses that have been infected the most by COVID-19.
The strain COVID-19 has placed on the US economy is no longer news. However, what is more worrisome is how more people are suffering from this economic burden than others. The US Department of Labor has reported that more than one in 10 Americans have filed for unemployment in the last two weeks of March and the first week of April. This goes to show that a lot of people are unable to meet their financial needs or pay off their debts. One of the payments most people are having a hard time paying this period is the care loan payment. Thankfully, there is relief available to many people.
The outbreak of the COVID-19 virus has had a huge effect on the world. In the US, many Americans are struggling with reduced income, offsetting debts, unemployment, and worse, keeping a roof over their heads. To help with this, the government has enacted the Coronavirus Aid, Relief, and Economic Security Act, with the main objective of providing financial relief options to Americans affected by this pandemic. In this article, we will discuss the mortgage aspects of the CARES Act in detail.