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Congress Cancels Thursday Session After Authorities Warn Of Looming Plot To Pass Stimulus Bill
WASHINGTON Responding swiftly to the credible threat, Congress was reportedly forced to cancel its Thursday session after authorities warned of a looming plot to pass the stimulus bill. “Intelligence officials have informed us of a deeply unsettling plot to pass a nearly $2 trillion stimulus bill a frightening plot that may have involved members of the House of Representatives itself,” said Senator Ron Johnson (R-WI), who confirmed that his fellow legislators in the Senate were taking every precaution necessary to keep the alarming relief plan at bay. “Many of the details are still unclear, but we know they’ve been plotting this for months. We have reason to believe it may go as far back as the Georgia runoffs. If these disturbing reports of a child tax credit are true, we may have to erect a permanent fence around the Capitol building to keep everybody out.” At press time, Johns
How to Get Relief With Your Federally Backed Mortgages
Photo: Ziga Plahutar (Getty Images)
To help homeowners facing expiring mortgage forbearance, the Department of Housing and Urban Development (HUD) announced another extension of the eviction moratorium and availability of forbearance relief for federally-backed FHA, USDA and VA home loans to June 30, 2021. Additionally, borrowers in forbearance before that date can qualify for an extension totaling six months.
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This follows a Federal Housing Finance Agency announcement that borrowers with mortgages backed by Fannie Mae and Freddie Mac also qualify for a three-month forbearance extension, for a total of 15 months of coverage. Also for these mortgages, moratoriums on single-family foreclosures and real estate owned (REO) evictions have been extended by one month, until March 31. (Here’s a breakdown on the difference between all these loan types, if you need a refresher).
For the millions of Americans whoâve seen their finances upended by the pandemic, federal stimulus payments, enhanced unemployment benefits and the slew of moratoria placed on debts might have seemed like a godsend when they were first announced. But what happens when those programs expire?
For one, bankruptcy attorneys predict that consumer and small business bankruptcy filings are going to skyrocket, and they say the wave is likely coming before the end of 2021.
âThereâs a backlog of evictions, foreclosures and collection cases that are all being put off because of the pandemic that is going to come to a head, I think later on this year, probably late summer or early fall,â said Stephen Swift, lead attorney at Swift Bankruptcy Law Firm in Colorado Springs. âI do think weâre going to be busy, but the last thing that we are today is busy.â
Read more about Libord Finance consolidated net profit declines 7.14% in the December 2020 quarter on Business Standard. Sales decline 71.43% to Rs 0.12 crore