The Weekly Newspaper of Inglewood
Herald Publications - El Segundo, Hawthorne, Lawndale & Inglewood Community Newspapers Since 1911 - (310) 322-1830 - Vol. 69, No. 31 - July 30, 2020
Sip & Sonder Kick Starts the Day for
Centinela Hospital Healthcare Heroes
From day 1 since the COVID19 outbreak - Sip & Sonder has been dropping by Centinela Hospital every week showing their support with morning coffee and pastries. Thank you Sip & Sonder on behalf of all of the healthcare heroes that day in and day out have bravely
come to perform without doubt or delay but with Hope and Perseverance that if we all do our part, We Can Beat This. Photo courtesy Centinela Hospital.
Struggling To Make Rent Or Mortgage Payments
Due to Covid-19? You Have Options.
(BPT) - If you’re having trouble making
your rent or mortgage payment due to the
economic upheaval caused by the COVID-19
pandemic, you’re not alone. Millions of Americans
have lost their jobs, been furloughed,
had their hours reduced or have had to take
time off work due to illness or to care for a
family member - with or without pay.
The good news? There’s help for both renters
and homeowners. Unfortunately, many don’t
know about the assistance available to them.
“As we confront these unsettling times, it is
important to help keep people in their homes,”
said Malloy Evans, Senior Vice President
at Fannie Mae, the government sponsored
enterprise that finances about one in every
four homes in the U.S. “It is important to
provide homeowners and renters with the
information they need to take advantage of
the housing payment relief options that are
available.”
To raise awareness of housing assistance
options, Fannie Mae created “Here to Help,”
an online portal offering resources and tools
with clear information on what people should
do if they are worried about paying their
mortgage or rent during this challenging time.
For Homeowners
If you’re having trouble making your
mortgage payments due to COVID-19, and
if your mortgage is backed by a government
sponsored enterprise, such as Fannie Mae, you
are entitled to a temporary postponement of
your mortgage payments, called “forbearance.”
Forbearance does not erase the amount you
owe, but it allows for reduction or suspension
of your mortgage payments for up to
twelve months. You will not be charged late
fees during forbearance as long as you stick
to the plan’s agreed terms.
To request forbearance or other mortgage
assistance, contact your mortgage servicer
- the company that manages your monthly
mortgage payments.
While you will eventually have to make
up the payments you missed during your forbearance
plan, you are never required to pay
it back all at once unless you are able to do
so. Other options include a repayment plan,
which allows you to gradually catch up on
the missed amount over a period of time, or
payment deferral, which keeps your monthly
payments the same by moving the missed
amount to the end of the loan term with no
additional interest. If you have experienced
a permanent impact to your ability to make
your current mortgage payment, you may
qualify for a loan modification, which could
reduce your monthly payment by extending
Finance
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See Finance, page 8