Many Americans may find themselves struggling to stay afloat during this Coronavirus pandemic. We’ve been warned that unemployment could skyrocket from 3.5% to 20% this year due to the economic impact of the virus. Hopefully, the Families First Coronavirus Response Act and the Coronavirus Relief Bill will provide enough assistance to get you through these difficult times, but, if not, you can find additional cash reserves through your home if you own.
This article on Forbes.com will tell you about some options you have to allow your home to help pay the bills. These options include:
- Home Equity Loans and HELOCs
- Equity and Appreciation Sharing
It’s also important to remember that foreclosures have been halted for at least 60 days on Fannie Mae-, Freddie Mac- and FHA-backed loans.
Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.