Steven Mnuchin Speeds up First Round of Coronavirus Relief for Americans to Two Weeks
By Breitbart. Treasury Secretary Steven Mnuchin said Thursday he had sped up the timing on individual payments to Americans from three weeks to two weeks.
“I’m pleased to report that within two weeks the first payments will be directly deposited into taxpayers’ accounts,” Mnuchin said.
The secretary said the Treasury Department was working quickly to speed up aid to the American people and to get their $1,200 relief checks to them.
Mnuchin said that Americans who had their direct deposit information already in the IRS system would receive their money in a timely fashion. He promised people who did not have their information in the IRS system could put it into a website that would ensure a speedy direct deposit. (Read more from “Steven Mnuchin Speeds up First Round of Coronavirus Relief for Americans to Two Weeks” HERE)
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Government Housing Agency Unveils New Mortgage Relief Policies for Struggling Borrowers
By Politico. The Department of Housing and Urban Development on Thursday directed companies that service government-insured mortgage loans to give beleaguered borrowers the option to defer payments for up to a year, effective immediately.
The move — coming just 15 days after HUD announced a two-month moratorium on evictions and foreclosures — underscores the urgency of the deepening economic crisis caused by the coronavirus outbreak. The $2 trillion economic rescue package passed by Congress last week included up to a year of payment relief on federally backed mortgages.
“If you’re struggling, immediate help is now available,” HUD Secretary Ben Carson said in an emailed statement. “The FHA will continue to work with stakeholders to ensure that the loss mitigation options that are offered for both forward and reverse borrowers are appropriately tailored for the present situation.”
The pandemic has already taken a massive toll on the economy, with some 10 million Americans filing unemployment claims in the last two weeks and some economists forecasting a crippling recession for months. (Read more from “Government Housing Agency Unveils New Mortgage Relief Policies for Struggling Borrowers” HERE)
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