By Russ Wiles Arizona Republic | Care of USA Today
The coronavirus outbreak and resulting economic slowdown have increased financial stress and borrowing needs for many people. New loans might not be easy to obtain, especially if your employment income has dropped, but relief is available.
The recently enacted CARES Act, which also is providing stimulus payments and small-business incentives, addresses credit needs and borrowing in various ways. Here are some of the key provisions tied to loans:
Mortgage relief possible
The Coronavirus Aid, Relief, and Economic Security Act provides several levels of relief to home-loan borrowers, including the right to request two periods of mortgage-payment forbearance or suspensions totaling up to 360 days.
“No additional fees, interest or penalties can be assessed for the forbearance,” said the National Association of Realtors in a report, though regular interest can still accrue.
Written by idwatchdog.com
The US Cybersecurity and Infrastructure Security Agency (CISA) warns shoppers to be alert to holiday scams and malicious cyberattacks this holiday season. According to the agency, criminals may send fraudulent emails or e-cards with malicious links or attachments. Learn 12 tips to better detect and avoid holiday shopping scams, and better protect your identity and finances while searching for the perfect gifts online.
Holiday Scams Come in Many Forms—Fraudulent Ads, Emails, Calls, and Texts
Fraudsters frequently take advantage of the holidays to push themed scams through online ads, misleading calls, phishing emails, and text messages. The worst part? These scams are often carefully crafted and branded to look like they came from a legitimate retailer or other organization and for a legitimate purpose.
For example, in 2018, attackers reportedly sent holiday-themed phishing emails designed to look like Amazon order confirmations. If the victim took the bait and opened the link or attachment, the emails infected the victim’s computer with malware that logged keystrokes and attempted to steal account credentials.
In other instances, cybercriminals may tout fraudulent mobile apps or web pages related to holidays or current events, such as Black Friday, with the goal of convincing to enter personal or financial data.
James and Patricia had a very expensive, large home that they had lived in for quite some time. Even though they had 1st, 2nd and 3rd mortgages on their property, they still maintained a strong equity position. However, over the years they also acquired a lot of retail consumer debt.
When they finally decided, in their 70’s, to sell the property and down-size, they were informed by their realtor that the property needed a lot of work to make it really marketable at its price point.
Marc has 36 years in financial services and 6 years in teaching.
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