Coronavirus Crisis - Mortgage Loans to be Rescheduled

Coronavirus pandemic crisis is causing huge economic problems in affected countries. One of the problems is loan repayments, especially mortgage loans. Homeowners, who have a mortgage loan and have lost their income due to isolation rules, today are facing a big concern. Are they going to lose their homes?

It seems that the USA has found a solution to this problem. Federal regulators have planned to influence mortgage lenders to offer to this category of homeowners the possibility to re-schedule loan payments. Their proposal is to offer up to 12 months of a grace period on mortgage payments.

How the mechanism will work?

It will start with the two mortgage giants Fannie Mae and Freddie Mac, which cover almost half of mortgage loans in the USA. They are ordering lenders to offer such flexibility to homeowners directly affected by coronavirus crisis.

Each borrower has to call its lender and to work out a new payment schedule, based on the particular individual situation. It is not clear when the papers will be signed, but it will probably happen after the isolation period comes to an end.

Each borrower who will undergo the procedure of mortgage re-scheduling, will not be considered a delinquent will not be registered as a bad borrower at the credit register. 

A great plan, I believe, that will release from additional stress many Americans in these difficult times.

What about people who Rent their Houses?

But, there is another category of citizens not covered by this plan: the renters. Again we are talking about people who lost their jobs due to the crisis. Are they going to be left homeless on the street? It sounds very ironic to see people getting out of their houses, exactly at the time when authorities are strongly requesting people to stay inside their homes.

Let's hope a new solution will be produced for renters as well. And, other countries will follow the USA example to not forget social problems caused to people by the terrific coronavirus crisis.

Source

Featured image: https://www.needpix.com/

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No more Tradings on the Floor for New Yorkers

Coronavirus pandemic crisis continues to challenge every single thing on earth. This time, it was the turn of the historical New York Stock Exchange (NYSE). For the first time ever, since its establishment in Manhattan,  back in 1903, the physical trading floor at NYSE is going to be closed. Starting next week, all trading operations of NYSE will be made online.

Electronic trading was introduced to NYSE in 2010. At that time it was solemnly declared that NYSE will never close its physical tradings floor. But as the saying says "Never say never." COVID-19 has challenged such a decision. After the positive dignification of two brokers at the NYSE trading floor, there was little room to play with. 

There is not a set date when the trading floor will come back to work again. I guess that will depend on how things go with the coronavirus crisis in the USA. Right now, there are 8,700 infected people and 112 deaths in the US, with New York City cases starting to pick. 

NYSE will not the same without the noise and the charm of its trading floor. Thank you coronavirus for challenging every aspect of our life 😠.   

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This is how Online Sales are gaining from the Terrible Coronavirus Crisis

Global Coronavirus Pandemic Crisis is resulting to be positive for some companies so far. Amazon has announced 100,000 vacancies due to tremendous demand for its online sales. 

Self-isolation practice from coronavirus is freeing up time for people to spend more time online. And, many US residents are not just navigating on the net. They are actually using this time to buy everything they need, or not 😀 online. Amazon, one of the most preferred destinations for online sales worldwide is 'suffering' the cost of its success.

Due to high demand from its customers, Amazon is lacking to deliver ordered goods within the usual 2-days delivery time. Thus, they have announced their need to hire around 100,000 people in positions of delivery drivers and warehouse workers (people who pack the orders). An increase in pay per hour rate is offered by the company for the period of pick demand.

This is good news for the online sales sector. In such difficult and unusual times, we are living, online sales are really making our lives easier. Let's hope their suppliers will be able to cope with the high demand for their goods in this time when keeping factories open is quite challenging due to safety reasons. But, with the improvement of the COVID-19 situation in China mainland, this issue seems to be almost solved. Allow me to remind you that China has one of the biggest numbers of manufacturing factories in the world.

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In our attempts to help you dear readers to have an easier life, we took the time to select the best products for you. Visit our e-SHOP to access Fantastic Products for the Best of Your Family and Yourself. Stop by each Category Wish List and buy products that fit your needs. Enjoy!

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#onlinesales #amazon #vacancies #coronavirus #covid19 #USA #selfisolation