What You Need To Know About Govt. Grants, Loans, & Forbearance To Survive The Pandemic Economy | Zero Hedge

• The economic stimulus payments have begun to be distributed, but it’s an uneven roll-out.
• Pandemic Unemployment Insurance (PUI)
• Self-employed persons and people who didn’t work the minimum amount that is normally required for unemployment will qualify,
• The states are responsible for making this happen and most of them have not done so yet.
• The term for not paying your mortgage is forbearance. That means your mortgage payments are not currently due. Currently, government-backed loans are mandatory 3-12 months forbearance periods.
• Do you have a car payment that you can’t make? A number of car loan companies and leasing companies have programs in place to delay or extend the term of your contract.
• Check in at https://cars.usnews.com/cars-trucks/coronavirus-payment-relief to see if your lender is offering such a deal. Communication is always best in cases like this. Here’s an article about talking to creditors.
• Many credit card companies are coming forward with forbearance programs as well. They may allow you to put off making a payment, make a smaller payment, reduce your interest rate or eliminate late fees. Some credit card issuers have also agreed to not report the late payments to credit bureaus. That means your credit score wouldn’t be impacted, at least not by this.
• First – don’t depend on the government, but be prepared to get the money they’re offering. The new coronavirus economic stimulus and tax acts have created a whole new group of grants, loans, and tax breaks. We call these CoronaTax.
• Congress has given us four CoronaTax bills. The first one dealt mainly with funding for important health agencies. The gold is in the next two bills.
• the purpose of these next two bills is:
  • Keeping you employed (if you currently have a job),
  • Keeping your employees working (assuming you have a business)
  • If you can’t work now (or your business can’t), getting you some income fast,
  • Providing sick & paid leave for your employees, with the government’s help, and
  • Giving businesses special tax breaks.
• Get your family stable financially. Then learn about what’s possible for the next step. Form a strategy and implement perspective.
• We’ve got a new economy coming. Be prepared with knowledge, strategies, and action.