News

News

Coronavirus (COVID-19): Impacts on the California Housing Market

Real-estate-market-recession-due-to-economic-downturn-from-coronavirus-pandemic

Homebuying typically picks up in the spring, but with a pandemic and rapidly deteriorating economy, the long-term impacts on the housing market remain uncertain. A Zillow study released in March 2020 tracked housing trends during previous pandemics. It concluded that home sales dropped dramatically during outbreaks while home prices remained even or decreased slightly. Overall, […]

How to Prepare for the Next Recession

Protective-Mask-On-Hundred-Dollar-Bill

Even before the coronavirus pandemic, economists were warning of a possible recession in 2020. Trade issues with China, economic declines in other regions, flat global industrial production, and increasing personal debt are just some factors that have been stressing the U.S. economy. The longest economic expansion in history appears to have ended, with 10 million […]

Protecting Your Credit During the Coronavirus Pandemic

Young-couple-reading-credit-report

Health and safety are top concerns during the coronavirus pandemic, but aside from COVID-19, economic and financial issues are also taking center stage. Financial hardship is impacting millions of Americans. Protecting your credit is important for your financial future. Missing payments will lower your credit score, which can affect your eligibility for a new credit […]

Bankruptcy 101: Learn The Basics

Sad-Executive-Woman-Wearing-mask-learning-about-bankruptcy-coronavirus

If you’ve fallen on hard financial times, bankruptcy can help set you on the right course. You can receive a discharge of debts with Chapter 7 bankruptcy or discharge some debt and create a repayment plan with Chapter 13 bankruptcy. However, there are many considerations and steps to navigate. These bankruptcy basics are intended to […]

Coronavirus Impacts on Loan Modification

Mortgage-Loan-Modification-CARES-Act

The coronavirus pandemic has changed many things, including how financial institutions view loan modification. With the passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), institutions won’t be directed to classify loan modifications as trouble debt restructurings (TDRs). Financial institutions have been encouraged to work with borrowers impacted by COVID-19, as confirmed […]

Coronavirus Mortgage Relief in California

Spanish-Style-Homes-in-Los Angeles

As novel coronavirus has spread across the globe, COVID-19 has affected every aspect of life. The U.S. Department of Labor reported nearly 3.3 million people filed for unemployment in the week ending March 21, the highest ever recorded.1 In California, 1 million people filed for unemployment in two weeks.2 The virus is not only overwhelming […]

Coronavirus (COVID-19): CARES Act Bankruptcy Changes

Coronavirus-Aid-Relief-And-Economic-Security-CARES Act-on-desk-with-pen

The Senate passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 25, 2020. Enacted on March 27, the legislation placed short-term restrictions on lenders and servicers of federally backed loans. It enforces mandatory forbearance obligations, moratoriums on foreclosures, and revises credit reporting obligations to help individuals and businesses facing financial hardship […]

Coronavirus: Renter’s Relief in California

Family-Finances-Applying for rent relief-no-eviction

The economic fallout of coronavirus is affecting tens of millions of Americans. In addition to those who have become ill with the virus, many have lost jobs, closed their businesses, and therefore struggling to pay rent. There are over 40 million renters and 30 million small business owners affected in the U.S., according to The […]

Coronavirus (COVID-19) Impact on Your Property Taxes

Property-Tax-green-background-man-holding-calculator

According to the U.S. Department of Labor, there were more than 6.6 million jobless claims in the week ending March 28, as more and more people stay home.1 Coronavirus infections and COVID-19 have devastated the U.S. job market. As the global pandemic persists, federal, state, and local governments have sought to ease the financial burden […]