Monthly Archives: March 2020

There’s a good chance you can delay your mortgage payment if the coronavirus outbreak has left you short of money. The Federal Housing Finance Agency has instructed mortgage servicers to allow borrowers whose mortgages are owned by Fannie Mae or Freddie Mac to delay payments. This forbearance program allows for a mortgage payment to be suspended for up to 12 months due to hardship cause by the coronavirus.

Federal housing officials have also announced a nationwide eviction and foreclosure moratorium for borrowers of Fannie or Freddie mortgages.

But the federal plan don’t cover more than 40 million renters, many of whom may not be able to pay their rent next month. Renters should contact their landlord or management company to communicate their ability to pay on time. Keep in mind there is a moratorium for evictions nationwide.

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If you like the idea of working from home or setting your own hours, you should know about this resource. Thanks to the internet and widespread connectivity, there are plenty of jobs that don’t require you to commute to the office every day or work a 9-to-5 schedule. One way to look for legitimate part-time, remote, flexible-schedule or freelance work is to use FlexJobs. It’s a subscription-based job board that specializes in postings for these types of positions.

Perks include:

• The ability to apply for positions directly from the FlexJobs website directly from the FlexJobs website.
• Regular emails with job openings that match your preferences
• Access to webinars designed to help you learn skill, including resume improvement and LinkedIn networking
• Access to skills test that can help you set yourself apart from other job applicants
• The option to call FlexJobs and speak to a person to get help setting up your personalized search parameters, for example.

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For the most part, the people who  will most benefit from FlexJobs are those looking for work to fit their lifestyles. The jobs posted on the site are aimed at the people who aren’t look for a traditional 9-to-5 job in an office. While some of the jobs do follow regular business hours, many of them all you to work remotely or telecommute at least some days each week. Others are part-time jobs with flexible schedules. Freelancers can also benefit it they’re looking for regular income streams.

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As workplaces temporarily shut down and thousands of Americans are quarantined because of the coronavirus, some major credit card issuers have begun offering relief to their customers. What to do if you’re struggling to pay your credit card bills. While some credit card issuers are still determining the measures they will take to aid credit card users, many companies are urging consumers to contact them to discuss the financial hardships they face because of the coronavirus. Call your credit card company to share your specific status to avoid going into collections. Making the smallest payments to your credit card company is in your best interest to protect your credit score and keep your credit report in the best light.

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One national drugstore chain has even waived its shipping fees for any type of online order. As cases of COVID-19 spread across U.S., two major drug store chains are encouraging their customers to remain at home by offering free home delivery of prescription medications. Both Walgreens and CVS are making these changes as health officials recommend that people stay home in a effort to tamp down community transmission of the disease caused by the new coronavirus.

However, Walgreens says it’s “waiving delivery fees for all eligible prescriptions during this evolving situation” and does not define “eligible”. So, contact your local pharmacy if in doubt. Additionally, Walgreens is offering free delivery on all purchases on Walgreens until further notice. In other words, there is not minimum purchase requirement to qualify for free shipping.

Because many people are expecting to remain at home for a prolonged period, experts also are recommending stocking up on prescription drugs when possible.

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Scams exploiting the coronavirus outbreak are popping up. Here’s how you can avoid them. Use the following tips to help avoid falling for a coronavirus scam.

1. Check email sender addresses
2. Don’t click through links in an email
3. Stay away from online vaccination offers
4. Avoid giving personal information
5. Be wary of ‘investment’ opportunities’ related to the coronavirus
6. Carefully research charities before donating
7. Stay away from those who use pressure tactics

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Many carriers are waiving fees or offering options.If you have travel plans, chances are good that the coronavirus pandemic has you reconsidering. Fortunately, many airlines are offering flexibility in rescheduling trips. For example, American Airlines travelers who purchase a Non-refundable Fare ticket March 1-31 will not have to pay a change fee if their travel plans change. They can make a one-time change before their original departure date.

At Delta Air Lines, any ticket that expires in March or April will be extended so you can rebook through the rest of the year. The airline also is waiving change fees for flights departing in March or April and for all tickets purchased in March.

United Airlines will waive change fees for tickets issued March 3 through March 31 if you rebook a flight up to 12 months from the original ticket issue date. If you simply cancel your flight, the value of the ticket can be applied to a new ticket without a fee., for travel up to 12 months from the original ticket issue date.

Those are just a few of the policies that have been rolled out. If you booked on a flight on another airline, odds are good that your have options as well. Contact your airline to find out.

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The coronavirus has turned the stock market and the economy upside down. Now, it’s doing the same thing to interest rates. With a negative-rate mortgage, instead of paying interest, you’d literally pay back less than you borrowed. What can a saver do? For one, use certificates of deposit to lock in rates now.

Things you can do:

1. Switch to a high-yield savings account

2. Invest in real estate with as little as $500

3. Invest effortlessly – sit back and let Acorns, a micro investing app help you save and invest your spare change automatically (no trade fees)

4. Earn 5% with Worthy bonds with as little as $10

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As the coronavirus threatens  the U.S. economy, this is no time to panic. But it is time to lock in today’s savings rates if you can.

The Federal Reserve recently cut its benchmark federal rate back to a range of 1-1.25% and more cuts are possible. So what should savers do? Lock in rates now, before they go lower. You can still lock in a 1.86% interest rate on a certificate of deposit (CD).

Don’t want to lock up all you money in a CD? There are also online savings accounts paying 1.85%. Note, however, that these rates can change any time.

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Downsizing can cut the bloat in your finances – and give you more free time and less stress. Downsizing – what exactly does ite mean? Smaller house, fewer bills, less stuff? Yes, yes, and yes. Many think of downsizing as moving to a more compact house after the kids have grown and gone. And it is. But let’s not stop there. Downsizing makes sense in other ways too. Following are other areas of life where downsizing can yield serious financial savings, not to mention save you time and stress.

1. Automate your finances
2. Downsize your home entertainment
3. Downsize your transportation

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