Congress is poised to approve an unprecedented $2.2 trillion economic rescue package to help ease coronavirus financial hardship. Here are some questions and answers about how the legislation can help you.
The Capitol is framed through a window in the Russell Senate Office Building as lawmakers negotiate on the emergency coronavirus response legislation, at the Capitol in Washington, Wednesday, March 18, 2020.
WASHINGTON — Congress is poised to approve an unprecedented $2.2 trillion economic rescue package that will provide one-time checks for most Americans and significant enhancements to unemployment benefits. Both will provide much-needed help to those recently laid-off and to financially stressed households as the coronavirus shuts down much of the economy.
Also, the federal government suspended foreclosures and evictions for mortgages insured by the Federal Housing Administration. Several cities have halted evictions due to the coronavirus. Fannie and Freddie are also offering owners of multifamily properties forbearance relief on their mortgages, on condition they suspend all evictions of renters unable to pay because of the virus.If you have a federal student loan, you can apply for a deferment or a forbearance at any time. Both of these postpone payments temporarily but interest still accrues on some loans with deferment and all with forbearance.
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