It’s The 1st Of The Month. Renters Are In A Much Tougher Spot Than Homeowners

Nicolena Loshonkohl, a single mom in Roanoke, Va., lost all her income when the hair salon where she worked shut down. She’s been finding ways to social distance and keep her toddler engaged outside. But finding money to pay her rent and all her bills is more of a struggle. Rent is due for the first time since millions of Americans lost their jobs or incomes as the coronavirus pandemic shut down large swaths of the U.S. economy. Many renters are in a tough financial spot because they got fewer protections out of the $2 trillion economic rescue package than homeowners did. Homeowners who lose their income can defer mortgage payments for many months if they need to. Then they can have those missed payments tacked onto to the end of their loan term so they won’t have a giant pile of debt to pay right away. They can […]

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