The $2 trillion stimulus package just signed into law states that borrowers need not provide any proof of financial hardship. They can simply say they can't pay.
For most mortgage borrowers, the first of the month is payment day. This month, however, is a very different story. Millions of borrowers have either lost jobs or income, and are suddenly struggling to make those monthly payments.
Comcast pledged $500 million to employees whose jobs have been affected by coronavirus. CEO Brian Roberts and other senior leaders are donating their annual salaries to coronavirus-related charities.
"I still think big manufacturers are stuck in the mindset that 'my supply chain is in Asia and I'm dead in the water' until they come back on line, said Pindel CEO Bill Berrien.
The coronavirus appears to be splitting the mortgage market as more borrowers rush to refinance to save money on monthly payments and potential homebuyers back away fast.
Domestic violence programs and shelters in New York, the state with the most coronavirus cases, are seeing a decline in at-risk clients, who are staying home as the disease spreads.
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