Mortgage Payment Relief During COVID-19 Crisis
April 1, 2020
By: Adam Smith
“California is experiencing a massive uptick in unemployment claims because of the ongoing COVID-19 crisis, with more than 1 million new applications for unemployment benefits submitted within the roughly 2-week period between March 13 and March 25. Due to job loss or temporarily reduced income, many homeowners are expected to face challenges paying their mortgages in the coming months. For landlords in particular, the current moratorium on evictions and potential rent strikes could result in delayed rent payments from tenants, which in turn will inevitably cause some landlords to miss mortgage payments.”
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