During this quarantine situation, theirs been many changes throughout the New York City area but when it comes to homeowners and tenants paying rent, there's a plan that causes a relief based on payments.
Tenants can remain in their homes with no worries of eviction as the Cares Act, a $2 trillion stimulus package which was revealed last week, banned that option to proceed prior to the coronavirus dilemma. According to CNBC, the eviction ban will last for 90 days.
The Cares Act remains in tact for homeowners too with federal loans as it provides twice the amount of comfort for their pockets and it prevents foreclosure for nearly 60 days. In addition, the stimulus packed also suspends mortgage payments on behalf of homeowners for 180 days, CNBC also reported.
Aside from the option to sign up for the Cares Act, you can consider the choice to present strategies on repaying your landlord.
As an alternative, head to the Department of Housing and Urban's Development website where you can take a glimpse at the information of governments rental assistance consisting of local financial aid program to help you with cash flow when paying for next month's rent.