Can you break a lease during COVID-19? This reader’s grandson rented an apartment near campus but fall classes are being held online. Q: In January, my grandson and three of his friends agreed to rent a 4-bedroom apartment near the campus starting in August, when school was supposed to resume. They signed the lease in [...]
COVID-19: unemployment and the mounting financial crisis. Understanding how people live paycheck-to-paycheck and the implications of extended unemployment. Q: In your recent column in the Washington Post, it was stated that “nearly 80 percent of Americans were living paycheck to paycheck before the pandemic…” I want to know how do you define living paycheck-to-paycheck when [...]
What happens to the economy when the PPP runs out of money? This reader wants to know how another rise in unemployment will impact the economy. Q: I tried to call in to WGN radio when Ilyce was on a couple of weeks ago. Do you think unemployment will skyrocket when the Paycheck Protection Program [...]
COVID-19 housing impact: which homeowners are most vulnerable? New research spotlights housing markets that are most at-risk in the U.S. The COVID-19 pandemic is having an impact on many parts of the economy: Mortgage interest rates hit an all-time low last week (a 30-year fixed-rate loan can be had for an average of 2.98 percent) [...]
COVID-19 scams: what to look for. How scammers are targeting Americans during the COVID-19 pandemic and what to do if you’re a victim of a COVID-19 scam. Update: The types of COVID-19 scams were updated to include a new national unemployment mailing scam on July 30th, 2020. Scammers have been working overtime this year, preying [...]
Can my landlord terminate my lease during COVID-19? This reader wants to know if it’s possible and how much notice they’ll be given. Q: If you rent on a month-to-month basis, can the owner terminate the lease during the COVID-19 pandemic? And, if the landlord does notify a tenant that the landlord elects to terminate [...]
Understanding COVID-19 homeowner relief resources. How to find coronavirus relief for homeowners offered by mortgage lenders, banks and the government. There’s a lot of confusion about what types of coronavirus relief resources are available for homeowners and who’s eligible for them. Over 60 percent of homeowners have no knowledge of COVID-19 resources or are unsure [...]
COVID-19 pandemic update: property tax payment extensions and penalty waivers. There are now 16 states offering some form of COVID-19 property tax relief. Relief programs for financial obligations continue to become available as more Americans have their incomes disrupted due to the coronavirus pandemic and the resulting economic slowdown. The average American household spends $2,375 [...]
Is summer canceled because of the COVID-19 pandemic? Not exactly, but some summer events and activities can’t happen while social distancing is in effect. This summer, things are going to be a bit different. The coronavirus pandemic and the social distancing efforts to limit its spread mean that summertime events that draw big crowds are [...]
Real estate closings and remote online notarization in 2020. How real estate professionals are finalizing closings during the COVID-19 pandemic. As a follow up to a recent story on online notaries and remote online notarization, we received several letters and have some more information for our readers. Comment: I understand the need for online notaries. [...]
