How the latest stimulus impacts renters and homeowners

The news has been dominated by whether or not those economically affected by COVID-19 will receive $600 or $1200 from the latest stimulus. As of this writing, the answer is $600.  As a renter or homeowner, what’s the impact of the stimulus. Home Wire provides some detail on how the latest stimulus impacts renters and homeowners.

Home Wire Summary of How the latest stimulus impacts renters and homeowners

To build upon insights offered about the next stimulus bill, a significant portion of the bill focuses on real estate. Many families have been unable to meet their monthly rent payments since the pandemic began as they have lost their jobs. The bill strengthens unemployment benefits by offering an extra 300 dollars per week for those who qualify. The billions of dollars that will be funneled to the PPP program will also pay dividends for business owners and the economy as a whole. The eviction moratorium, which was scheduled to expire at the end of the year, has now been extended into 2021. An extra month has been added with the new date now being January 31. This will at least delay the wave of foreclosures that many have been predicting.

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