Many people found they lacked a safe, reliable source of cash when investors became concerned about the coronavirus pandemic in March. Markets were falling. Businesses were closing. A credit crunch was spreading through the markets and the economy. The only...
‘The investing challenge may well shift in the months ahead from riding an exceptional wave of liquidity, which lifted virtually all asset prices, to steering through a general correction in prices and complex individual nonpayments.’ That’s Mohamed El-Erian, Allianz’s chief...
Interviews reveal benefit ranges from perk to necessity Policy makers at odds about extending weekly unemployment aid In about two weeks millions of Americans could lose a crucial economic lifeline of this pandemic: $600 a week in extra federal unemployment...
July 15 is the new April 15 for those who still have not filed a tax return. The traditional April income tax deadline was extended this year for 2019 tax returns, due to the upheaval created by COVID-19. The one-time...
Judith Ramirez is bracing for July. That’s when the hotel housekeeper and her electrician husband – who have both been out of work for three months – expect their combined unemployment benefits to drop by more than half, and their...
The clock is ticking for small business owners who need financial help in order to survive the coronavirus crisis. Tuesday, June 30 is the application deadline for the Paycheck Protection Program, a CARES Act initiative that provides loans to businesses...
Workers can collect unemployment benefits even after refusing work or quitting a job, if it’s for “good cause.” The CARES Act expanded these opportunities for Americans in instances related to Covid-19 — for health, safety or child-care reasons, for example. Some...
While you can’t snap your fingers and have your student loan debt magically vanish, there are ways to get student loan forgiveness. There are a number of student loan forgiveness programs out there for people who work in public service,...
As investors’ attention turns to recovery from reopening, some economists are warning that it may take up to three years for the global economy to get back to pre-pandemic levels—and that’s if everything goes right. In a report Monday, IHS...
The federal budget deficit widened to a record $738 billion in April, as the government’s efforts to combat the coronavirus pandemic led to massive levels of new spending and sharply lower tax collections, the Treasury Department said on Tuesday. In...
Struggling borrowers typically must make the first move to receive help from their lenders if they’re suffering financial hardship from the coronavirus pandemic, but too few make that call. More than 90% of people who have asked their mortgage lender...
The economy is in free fall and businesses are desperate for cash. The good news is that, for the past few weeks, they have been getting at least some of what they need from the banks. Households have been less...
Just before the coronavirus pandemic reached America’s shores, the U.S. saw the lowest number of foreclosure filings in over a decade. But the economic downturn the disease outbreak has since caused could lead many Americans into foreclosure, the regulator of...
The Internal Revenue Service has issued guidance filling in many details of the historic delay in this year’s tax-filing and payment deadlines, which have been extended to July 15 from April 15 for many taxpayers due to the coronavirus pandemic....
As homeowners rush to lock in record-low mortgage rates by refinancing, a strange thing is happening: They’re getting higher rates. While the rate on 30-year fixed mortgages hit a 50-year low of 3.29% in the first week in March and...
