In late June, the Federal Housing Finance Agency (FHFA) announced that the moratoriums on foreclosures put in place during the COVID-19 pandemic would be extended until July 31, 2021, and forbearance enrollment would continue through September 30, 2021. The moratoriums benefit homeowners with single-family mortgages backed by Fannie Mae and Freddie Mac. But as the […]
The COVID-19 outbreak has led to economic difficulties that have affected many small business owners. As a result, many have turned to small business bankruptcy. If you are one of them, there are a couple of options to consider during this challenging time. Continue reading to learn more. Chapter 11 Bankruptcy If you want to […]
The coronavirus pandemic has had a negative financial impact on the majority of Americans. In fact, TransUnion, one of the three main credit reporting agencies, conducted a study in April 2020 that found 61% of consumers have been affected. U.S. consumers have accumulated a lot of debt during the crisis. If you’re struggling to keep […]
Homeowners and renters continue to be impacted by the coronavirus pandemic, as the economy has not yet fully recovered. On Thursday, August 27, the Federal Housing Finance Agency (FHFA) and Department of Housing and Urban Development (HUD) announced that Fannie Mae and Freddie Mac have extended the moratoriums on single-family foreclosures until December 31. The […]
The world has been turned inside-out by the continued spread of the novel coronavirus. Millions of families have suffered the death of a loved one or watched their livelihoods slip away. The United States has been unwittingly center stage in the COVID-19 global health crisis. With mandatory quarantines, widespread business closures, and questionable stimulus efforts […]
While Chapter 7 bankruptcy will allow filers to erase qualifying debt, nondischargeable debts can’t be eliminated by filing for bankruptcy. Qualifying debts include past-due credit card balances, unpaid medical bills, and personal loans, amongst others. The U.S. bankruptcy code won’t forgive debts like student loans, income tax debt, or legal fines. Those are considered nondischargeable […]
With the economy arguably in a slump and unemployment at an all-time high, Americans are having to make adjustments to their financial plan to see them through these uncertain times. CNBC reports that over 40% of Americans are unable to afford an unexpected event or emergency that exceeds $1,000. Those statistics should make everyone take […]
This is undoubtedly a strange time for most Americans. The continued spread of the novel coronavirus has left thousands of people across the country out of work or living on a reduced salary. With all of this uncertainty, it has some homeowners worried about being able to make mortgage payments on time. Banks and lenders […]
The spread of the coronavirus has crippled working Americans and put their financial future in jeopardy. As the nation begins to reopen, much uncertainty still lingers. The United States government rolled out stimulus checks and small business loans, and state unemployment programs have offered added relief until the end of July. Banks and creditors have […]
On March 27th the United States government passed the CARES Act. The Senate approved a $2 trillion stimulus bill to keep the economy afloat and sustain Americans’ immediate needs amid the ongoing coronavirus pandemic. Unemployment claims have skyrocketed and broken previous records. In the last two months alone, more than 26 million people have filed […]
