Much of the U.S. economy has been put on pause in an attempt to save lives during the coronavirus crisis.
Consumers can see their payments paused for up to six months initially and possibly another six months.“Forbearance is really a deferral. They will still need to make these payments,” said Kathleen L. Kraninger, director of the Consumer Financial Protection Bureau in phone call Friday morning.
In the coming weeks, parts of the economy are expected to gradually reopen. Some workers may return to their jobs soon; others won't. Many lenders and servicers are providing forbearance benefits regardless of federally backed status, according to the Consumer Relief Guide.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A Tourist In Hawaii Who Posted Instagram Photos Of His Vacation Was Arrested For Allegedly Breaking QuarantineLocals in Hawaii have been outraged that tourists continue visiting the state during the coronavirus pandemic.
Read more »
6 Ways To Protect Your Business During The Coronavirus OutbreakTo protect your business and employees during the coronavirus pandemic, use these six strategies.
Read more »
California residents blast L.A. County initiative of sheltering homeless in nearby hotels during pandemicProject Roomkey seeks to provide vulnerable individuals experiencing homelessness with housing during the new coronavirus pandemic.
Read more »
Shelter pets are joining video calls — making meetings 100% betterAnimal shelters are harnessing technology in fun, creative ways during the coronavirus pandemic.
Read more »
America's surprising breeding ground for inequality: The internetNearly 15% of American households do not have a home internet subscription, including dial-up, broadband or a cellular data plan, according to US Census estimates from 2018.
Read more »