‼The last updates about paying rents, eviction and your credit scores. .
🏠If you are a renter, odds are that rent check is due this week, and if you lost your job because of the coronavirus, you might not have the funds to cover it, but don’t worry, you won’t be evicted right now. Help Me Howard with Patrick Fraser explains why. ✅Howard Finkelstein: “Here is reality: the courts are not issuing eviction orders. A landlord can file an eviction via email, but judges are not granting eviction orders, and the sheriffs have said they are not evicting tenants who cannot pay their rent. It’s painful for landlords who have mortgages, but it’s a relief for tenants who have suddenly lost their jobs.”
In addition, the bill passed by Congress says, if your landlord has a federally backed mortgage, they cannot evict their tenants for the next four months. ✅If I don’t make a payment, will my credit score be affected? There is no law preventing landlords from reporting late or missed payments to credit bureaus. The major credit agencies are dealing with coronavirus like a natural disaster. Late or missed payments will be flagged to future lenders with a natural disaster code indicating the borrower isn’t at fault so their credit score isn’t harmed, the Wall Street Journal reported.
Credit:wsvn.com & Wall Street Journal