Millions of Americans are now stuck at home, and many of them suddenly have no income.
So, what can you do if you can't pay next month's mortgage or rent?
For many of us, our personal economy has been turned upside down.
Casey Marchal lost her job when her office locked its doors. Now, the mortgage and bills are piling up.
"I have medical bills upon medical bills for an emergency I had last year, and I was so close to paying it off!" Marchal says.
Many of the nation's biggest banks - including Bank of America, CITI, Chase, US Bank, and Wells Fargo - have agreed to allow laid off homeowners a 30 to 90 day grace period.
Most banks have also agreed to delay foreclosures and evictions for 60 days.
But from the "doesn't that stink" file, landlords are demanding a rent payment - even if you are now out work.
Even the Cheesecake Factory announced it cannot pay April's rent for its closed restaurants!
Cities around the country are now passing eviction moratoriums, preventing a landlord from tossing you out. Even if you state doesn't have that, call your landlord and most will give you a break.
Bankrate.com says to avoid payday loans because they will just make things worse.
____________________
"Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
"Like" John Matarese Money on Facebook
Follow John on Twitter (@JohnMatarese)
For more consumer news and money-saving advice, go to www.dontwasteyourmoney.com
