Hardship Resource

  • Home

  • Online Events

    • Free Consumer Workshop
  • Blog

  • News

  • About

  • More

    Use tab to navigate through the menu items.
    THE PATH TO GETTING BACK ON TRACK
    • All Posts
    • Real Estate
    • Investment Properties
    • Loans and Finance
    Search
    EIDL Program is reopened for Independent contractors to receive assistance
    Amy Sessner
    • Jun 17, 2020
    • 4 min

    EIDL Program is reopened for Independent contractors to receive assistance

    Many independent contractors missed out on the first EIDL assistance. Please see below for helpful information on how to apply. |Jun 15, 2020 SBA Opens Up New Grants And Loans For Small Businesses And Independent Contractors: The EIDL Program By Richard Harroch On June 15, 2020, the SBA announced that it was again opening up its Economic Injury Disaster Loan (EIDL) grant and loan program. This means that independent contractors, freelancers, and gig workers are eligible to r
    13 views0 comments
    #Servicer's of Federally backed Loans must grant Forbearance for two 180-day periods if needed
    Amy Sessner
    • Jun 5, 2020
    • 2 min

    #Servicer's of Federally backed Loans must grant Forbearance for two 180-day periods if needed

    Great news for homeowners with Federally backed loans. CARES Act originally provided for 180 days for homeowner assistance Forbearance due to loss of income and or inability to work due to COVID. Current release confirms that the assistance may last as long as two consecutive 180 day periods which will provide relief past June should the homeowner still need assistance. FOR IMMEDIATE RELEASE: June 4, 2020 MEDIA CONTACT: Office of Communications Tel: (202) 435-7170 CFPB AN
    1 view0 comments
    Coronavirus relief bill could change unemployment benefits
    Amy Sessner
    • Jun 3, 2020
    • 2 min

    Coronavirus relief bill could change unemployment benefits

    Self employed were not previously reported in the weekly jobless rates until end of May 2020. 2.4 million workers applied for unemployment benefits by May 16th and nearly 2.2 self employed and independent contractors applied for aid under Pandemic Unemployment Assistance. By Megan Henney FOX Business Next coronavirus relief bill could include changes to unemployment benefits, Hassett says Roughly two-thirds of workers on unemployment are receiving more from the government ai
    2 views0 comments
    #Can't pay your bills?
    Amy Sessner
    • Jun 3, 2020
    • 10 min

    #Can't pay your bills?

    With Pandemic unemployment more than $43 million people, that is 1 in 4 people filing for unemployment benefits in the last 10 weeks. We are all looking for answers on how to adjust and ways to cut down monthly expenses. Bankrate article below provides a comprehensive list of 13 steps to take if you lost your job or cannot work due to the coronavirus crisis. Most homeowners have already called their mortgage lender or servicer to ask for forbearance assistance, look at th
    5 views0 comments
    #All time low Mortgage Rates
    Amy Sessner
    • May 29, 2020
    • 2 min

    #All time low Mortgage Rates

    Federal Reserve is helping to stimulate home sales by lowering mortgage rates and buying back mortgage backed securities. Great news for homeowners seeking lower monthly payments in a refinance. What does this mean for homeowners in forbearance? Once the forbearance period ends, federally backed mortgage loans can make 3 agreed payments and qualify for refinance. Please consult your loan servicer to confirm refinance programs and options after forbearance. Mortgage rates
    0 views0 comments
    #2.1 Million more jobless workers applied for unemployment
    Amy Sessner
    • May 28, 2020
    • 1 min

    #2.1 Million more jobless workers applied for unemployment

    You are not alone 2.1 million U.S. workers sought jobless aid last week. To date we have 41 million who have applied. By ASSOCIATED PRESS MAY 28, 2020 5:42 AM WASHINGTON — Roughly 2.1 million people applied for U.S. unemployment benefits last week, a sign that companies are still slashing jobs in the face of a deep recession even as more businesses reopen and rehire some laid-off employees. About 41 million people have now applied for aid since the virus outbreak intensified
    2 views0 comments
    #Refinance after Forbearance
    Amy Sessner
    • May 26, 2020
    • 3 min

    #Refinance after Forbearance

    This is great news for Federally Backed Loans. Homeowners are able to refinance their loans after their Forbearance period ends once they make the agreed 3 three consecutive payments under their repayment plan, or payment deferral option or loan modification to their mortgage servicer. Fannie Mae, Freddie Mac will allow borrowers who took forbearance to refinance their mortgage Government Sponsored Enterprises (GSEs) also extended their timeframe for buying loans that went i
    3 views0 comments
    Freddie Mac answers your questions on Forbearance for Federally Backed Loans
    Amy Sessner
    • May 26, 2020
    • 2 min

    Freddie Mac answers your questions on Forbearance for Federally Backed Loans

    Relief for Federally Backed Loans. Freddie Mac has outlined the Forbearance collection process for Mortgage Loan Servicer's and their homeowners with Federally Backed Loans. One of the most common mortgage relief options is forbearance, which is offered through your loan servicer (the company listed on your mortgage statement). When entering forbearance, your mortgage payments are suspended until the end of the forbearance period. If you are a homeowner experiencing financia
    1 view0 comments
    Freddie Mac online resources for homeowners and rental properties
    Amy Sessner
    • May 26, 2020
    • 3 min

    Freddie Mac online resources for homeowners and rental properties

    Freddie Mac Announces Online Resources to Help Consumers New digital tools help consumers know their options and get help May 26, 2020 12:32 ET | Source: Freddie Mac MCLEAN, Va., May 26, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced a number of online resources available to help homeowners and renters navigate the relief and support the company has made available in the face of COVID-19. The tools are part of a dedicated effort to raise awareness of the o
    2 views0 comments
    #COVID19 Frequently asked questions
    Amy Sessner
    • May 20, 2020
    • 3 min

    #COVID19 Frequently asked questions

    Mortgage Bankers Association has put together frequently asked about COVID19 and the forbearance process and what to ask your loan servicer. The COVID-19 pandemic has left many Americans in unique financial situations. If paying your mortgage poses a financial hardship, we encourage you to contact your mortgage servicer. There are options to help meet your needs. Are You Facing Financial Challenges Due to COVID-19? First things first: If you can afford to make your mortgage p
    2 views0 comments
    4.7 Million Mortgages in Forbearance
    Amy Sessner
    • May 16, 2020
    • 2 min

    4.7 Million Mortgages in Forbearance

    The emergency aid package package passed by Congress allows Homeowners affected by COVID19 to request that their Loan Servicer set up Forbearance Plans. To date 8.8% of U.S. mortgages are in forbearance. May 15, 2020, 3:08 pm By Kathleen Howley About 4.7 million mortgages are in forbearance, representing 8.8% of all home loans, Black Knight said in a Friday report. The number of borrowers who secured an agreement to delay their payments was up from 4.5 million last week, the
    11 views0 comments
    #Relief for Federally Backed Mortgage Loans in Forbearance
    Amy Sessner
    • May 15, 2020
    • 2 min

    #Relief for Federally Backed Mortgage Loans in Forbearance

    Great news for Federally Backed Mortgage Loans from Freddie Mac and Fannie Mae. This article announces that relief is offered as of July 1st. This news does not currently apply to Non Federally Backed Loans. Looking forward to answers from Non Federally Backed Loans and their Loan Servicer's on what can happen to payments in Forbearance. Check these links to confirm if your loan is Federally Backed. https://ww3.freddiemac.com/loanlookup/ https://www.knowyouroptions.com/loa
    0 views0 comments
    #Moratorium extended to June 30th
    Amy Sessner
    • May 15, 2020
    • 2 min

    #Moratorium extended to June 30th

    Welcome news for the 36.5 Million filing jobless claims. Mortgage Fannie Mae, Freddie Mac, HUD extend foreclosure and eviction freeze Moratorium extended to June 30 May 14, 2020, 2:32 pm By Ben Lane #Back in March, Fannie Mae, Freddie Mac and the Department of Housing and Urban Development suspended all foreclosures and evictions for 60 days to ensure that people didn’t lose their homes as the coronavirus was shutting down the U.S. economy. The agencies’ foreclosure and evict
    0 views0 comments
    Fannie Mae COVID19 Payment Deferral
    Amy Sessner
    • May 14, 2020
    • 3 min

    Fannie Mae COVID19 Payment Deferral

    May 13, 2020 Fannie Mae Announces COVID-19 Payment Deferral Provides Important Information about Post-forbearance Repayment Options to Help Impacted Homeowners WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced COVID-19 payment deferral, a payment deferral option for homeowners who experienced a financial hardship due to COVID-19 that has been resolved and are ready to resume their monthly mortgage payments. Under this option, homeowners can resume their regular monthly
    0 views0 comments
    #What will credit reports show after COVID19 Forbearance?
    Amy Sessner
    • May 13, 2020
    • 2 min

    #What will credit reports show after COVID19 Forbearance?

    Great Article by Kathleen Howley. Mortgage Forbearance is a necessity at this time for millions of American's. Under the CARES Act the Mortgage Servicer's are reporting the credit as current if the homeowner was current prior to starting the Forbearance but CARES Act now needs to address the notated sections of a credit report where it could show "Forbearance". Read below.... Forbearance becomes a ‘Scarlet Letter’ on credit reports A 'comments section' workaround consumer
    4 views0 comments
    #COVID19 Mortgage Myths!  Missed Payments are not forgiven or waved
    Amy Sessner
    • May 6, 2020
    • 3 min

    #COVID19 Mortgage Myths! Missed Payments are not forgiven or waved

    Mr. Cooper clears up the Mortgage Myths. Mr. Cooper like most of the major mortgage loan servicer's responded to the COVID19 stay at home crisis with the ability for a homeowner to put the payment of their monthly mortgage on pause until normal income returns. Mortgage Loan Servicer's cannot waive or forgive the payment owed as it is simply that, we owe any payments that were paused during this pandemic. Upon conclusion of this pandemic, Loan Servicer's will work with home
    2 views0 comments
    Quicken Loan FAQ
    Amy Sessner
    • May 3, 2020
    • 4 min

    Quicken Loan FAQ

    Great resources for Quicken loans clients impacted by COVID19 on who should apply? What is a Forbearance? What happens when the Forbearance is over? Why Forbearance? FAQ: Quicken Loans® Clients And Mortgage Assistance During COVID-19 Resources For Quicken Loans Clients Impacted By COVID-19 If you’re worried about making your mortgage payments, here’s what you should know: · You can find resources online: You can begin the process online through Rocket Mortgage® by Quicken Loa
    6 views0 comments
    Selling or Buying a home during the pandemic
    Amy Sessner
    • May 1, 2020
    • 1 min

    Selling or Buying a home during the pandemic

    Nerdwallet article says yes you can buy and sell a home with the following helpful tips Tips for buying or selling a home now: · Carefully consider whether you're financially and emotionally ready to buy a home and whether you need to move right now. It may be better to postpone if you're just toying with the idea or worried about losing your job. "It's a needs-based thought process," Jeanne Radsick President California Association of Realtor says. · Shop at least three lende
    11 views0 comments
    When do I get my economic impact payment?
    Amy Sessner
    • Apr 30, 2020
    • 2 min

    When do I get my economic impact payment?

    Everyone needs this question answered if they have not yet received the economic impact payment directly deposited in their bank account. I was able to check the status of my payment by going directly to the IRS site "Get my Payment" and provide my bank account information for direct deposit. A few people have told me that they have logged onto the "Get my Payment" site and received the date in which the check will be mailed. Article from the The Consumer Financial Protecti
    0 views0 comments
    COVID19 Q&A Penny Mac Loan Services, LLC
    Amy Sessner
    • Apr 30, 2020
    • 6 min

    COVID19 Q&A Penny Mac Loan Services, LLC

    From the Penny Mac Loan Services website. COVID19 mortgage assistance and links for their customers As COVID-19 (Coronavirus) continues to affect our country, your PennyMac family is here to support you. We recognize many of you have had long call wait times or have not yet had a chance to speak with one of our PennyMac team members. We encourage you to access the tools available to you online to get information quickly. At PennyMac, we’re committed to doing the right thing
    0 views0 comments
    1
    2

    © 2020 by Hardship Resource. The Cofini Group LLC- 1-833-8-COFINI

    Get Social

    • Grey Facebook Icon
    • Grey LinkedIn Icon
    • Grey YouTube Icon

    ​

    WEBSITE DISCLAIMER

     

    The information provided by The Cofini Group LLC (“we,” “us” or “our”) on http://www.hardshipresource(the “Site”) is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site. UNDER NO CIRCUMSTANCE SHALL WE HAVE ANY LIABILITY TO YOU FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF THE SITE OR RELIANCE ON ANY INFORMATION PROVIDED ON THE SITE. YOUR USE OF THE SITE AND YOUR RELIANCE ON ANY INFORMATION ON THE SITE IS SOLELY AT YOUR OWN RISK.

     

    EXTERNAL LINKS DISCLAIMER

     

    The Site may contain (or you may be sent through the Site) links to other websites or content belonging to or originating from third parties or links to websites and features in banners or other advertising. Such external links are not investigated, monitored, or checked for accuracy, adequacy, validity, reliability, availability or completeness by us. WE DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR THE ACCURACY OR RELIABILITY OF ANY INFORMATION OFFERED BY THIRD-PARTY WEBSITES LINKED THROUGH THE SITE OR ANY WEBSITE OR FEATURE LINKED IN ANY BANNER OR OTHER ADVERTISING. WE WILL NOT BE A PARTY TO OR IN ANY WAY BE RESPONSIBLE FOR MONITORING ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.

     

    PROFESSIONAL DISCLAIMER

     

    The Site cannot and does not contain financial literacy advice. The financial literacy information is provided for general informational and educational purposes only and is not a substitute for professional advice. Accordingly, before taking any actions based upon such information, we encourage you to consult with the appropriate professionals. We do not provide any kind of financial literacy advice. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED ON THIS SITE IS SOLELY AT YOUR OWN RISK.

     

    AFFILIATES DISCLAIMER

     

    The Site may contain links to affiliate websites, and we receive an affiliate commission for any purchases made by you on the affiliate website using such links.

    Terms and Conditions

    Privacy policy