By Dave Uejio | Care of CFPB - Consumer Financial Protection Bureau
The CFPB released our first analysis of the impacts of the COVID-19 pandemic on housing. The good news is that actions taken by both the public and private sector have, so far, prevented many families from losing their homes during the height of the public health crisis. However, as legal protections expire in the months ahead, over 11 million families — nearly 10 percent of U.S. households — are at risk of eviction and foreclosure.
Put simply: we have very little time to prevent millions of families from losing their homes.
It’s common sense that safe, affordable, and stable housing provides the foundation for people’s well-being, financial and otherwise. Stable homes mean stable neighborhoods and communities. When people lose their homes, their lives, health, and finances are all disrupted. Even the threat of losing a family’s home can force tough financial decisions, including skipping payments on food, medicine, and heat to keep a roof over their head.
We also know that many, particularly in Black and Hispanic communities, have still not recovered from the last financial crisis, more than a decade ago. And those same communities are once again bearing a disproportionate financial and health burden during the pandemic, through no fault of their own.
Addressing housing insecurity
I am deeply concerned that a mass wave of evictions and foreclosures will turn millions of families out on the streets. Such an event will not only be a humanitarian and public health disaster but will have repercussions throughout the housing sector and our economy at large.
The CFPB was created in the aftermath of the 2007-08 housing crisis, and Congress uniquely equipped us to address the current looming housing crisis. Where we can use our authority to keep people in their homes, we will. Where we can coordinate public and private efforts to save homes, we will. Where we can prevent the weight of this crisis falling upon communities who are already struggling — whether they are Black, Hispanic, Native, rural, or lower-income — we will. And in those unfortunate instances
Care of NRMLA Online
A new article from AARP highlights how criminals have been phoning people, posing as real Social Security officials and flaunting fake badge numbers, to persuade victims to give up money or sensitive information.
The warning comes from Gail S. Ennis, head of the Social Security Administration’s Office of Inspector General (pictured), who says, “Don’t believe anyone who calls you unsolicited from a government agency and threatens you — just hang up. They may use real names or badge numbers to sound more official, but they are not.”...
For the most part, if you of a loved one needs long-term care in a nursing facility, an assisted living setting or your own home, you’re on your own financially. However, there are some limited circumstances when original Medicare will pay for this care for a short time. If you’ve been treated in a hospital for an injury or illness that requires rehabilitation, Medicare will pay 100% for care at a skilled nursing facility for 20 days. After that, it will cover most of the costs of that care for days 21 to 100. You’ll need to cover coinsurance of $185.50 per day.
Scammers take advantage of your reasonable concerns about viruses and other threats, but their real goal isn’t to protect your computer. Instead, they want to sell you useless services, steal your credit card number, or install malware, which lets them see everything on your computer.
How do you know if you’re being scammed? Here are three common scenarios:
Scenario #1: Unsolicited call from tech support
You get a call from someone who says he’s a computer technician. Maybe he claims to be from a well-known company. He says there are viruses or other malware on your computer to trick you into giving him remote access to your computer or buying software you don’t need. He may ask you to pay by gift card or wire transfer.
Marc has 36 years in financial services and 6 years in teaching.
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