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    THE PATH TO GETTING BACK ON TRACK
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    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
    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
    #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
    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

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