HOUSTON – As the coronavirus pandemic has caused a great economical crisis, many workers have been laid-off or are not receiving pay during business closures.
If you’re worried about missing a mortgage payment, contact your lender immediately.
Numerous banks have said they are willing to work with distressed borrowers, including potentially suspending or reducing mortgage payments for a stretch.
TAA advises renters to communicate with their property manager if they find themselves unable to pay rent.
According to the association, they have encouraged rental property owners to waive late fees and set up a payment plan for residents impacted by the COVID-19 crisis.