Student Loan Forbearance During Coronavirus Might Prevent You From Getting a New Mortgage or Refinance Loan

Student Loan Forbearance During Coronavirus Might Prevent You From Getting a New Mortgage or Refinance Loan

The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act puts an automatic suspension on payments for eligible federal student loans for six months, from March 13, 2020, until September 30, 2020. For many people, getting a break from payments during this national emergency is a lifesaver. But for others, having a loan in forbearance can hurt or ruin their chances of qualifying for a new mortgage or refinance loan. Here’s why: Mortgage lenders usually use your actual monthly student…

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Trump Veto Makes Getting a Student Loan Discharge More Difficult

Trump Veto Makes Getting a Student Loan Discharge More Difficult

Under an Obama-era rule, known as the “borrower defense to repayment” rule, if your school fraudulently convinced you to enroll or remain enrolled, you can get a discharge of your federal student loans relatively easily. Education Secretary Betsy DeVos has long argued that the Obama rule makes it too easy for borrowers to get student loan forgiveness, and that a new rule is necessary to save taxpayers billions of dollars. So, last year, DeVos declared that for loans first disbursed…

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OSHA requires employers to log work-related cases of COVID-19

OSHA requires employers to log work-related cases of COVID-19

In updated guidance released on May 19, 2020, the Occupational Safety and Health Administration (OSHA) stated that employers must record confirmed, work-related cases of COVID-19 on OSHA Form 300, the form used to record workplace illnesses and injuries. Under the new guidance, an employer must log a worker’s case of COVID-19 if all of the following conditions are met: The illness is a confirmed case of COVID-19. The illness is work-related. The illness involved days away from work, restricted duties,…

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Will New $300 Tax Deduction Spur Donations to Charity?

Will New $300 Tax Deduction Spur Donations to Charity?

The coronavirus or COVID-19 pandemic has made nonprofit charities in the U.S. and abroad more crucial than ever. They’re a key part of the safety net, providing support to people who are hungry, unhoused, ill, or face other life challenges. Yet the pandemic has impacted donors’ very ability to make contributions, or at least their confidence in parting with hard-earned cash given the uncertainty of the future, economic and otherwise. In a global survey of charities by CAF America, nearly…

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Forbearance During Coronavirus Might Prevent You From Getting a New Mortgage or Refinance Loan

Forbearance During Coronavirus Might Prevent You From Getting a New Mortgage or Refinance Loan

Under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, homeowners with federally backed mortgage loans who’ve been affected by COVID-19, regardless of delinquency status, can get a forbearance. Also, even if you don’t have a federally backed mortgage loan, your lender might agree to a forbearance plan. Under the CARES Act, any loan that’s in forbearance must be reported as “current” on credit reports, so long as the borrower wasn’t already delinquent on payments at the time of…

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