Federal Student Loan Forgiveness
President Joe Bidens federal student loan relief program provides up to $10,000 in canceled debt to individual borrowers with annual incomes below $125,000 in 2020 or 2021, and households with less than $250,000 in income those same two years. Pell Grant recipients are eligible for up to $20,000 in canceled loans. Applications have been paused due to being held up by lawsuits seeking to shut the program down. In the meantime, the Biden administration has begun to send out acceptance letters in anticipation of the program being approved.
Can I Get Help With My Utilities
Yes, eligible households for CERA can receive utility assistance for tenant supplied electricity, home heating , water, sewer and trash .
As of January 1, 2022, MSHDA will not be approving households that are solely behind on their utilities. These households should apply for utility assistance through MDHHS at MI Bridges.
Tenants up to 50% AMI are eligible for an additional $500 if needed to fully pay utility arrears.
How Much Rental Assistance Can I Receive
- Up to 50% AMI-up to 18 months of rental assistance
- 50-80% AMI-up to 16 months of rental assistance
- Tenants may apply for an additional 3 months of rental assistance if necessary, for housing stability so long as this does not exceed the 16 or 18-month maximums
- CERA program can only pay rent through September 30, 2022. Rent due after this time frame is not eligible for CERA payment and must be paid by the tenant.
Become Uncle Sam’s Landlord: Earn Yields Up To 164% With These Reits That Rent To The Us Government
If youve ever been a landlord, you know finding reliable tenants is everything. Tracking down late payments every month makes your passive income stream a lot less passive.
Thats one reason why so many investors like real estate investment trusts publicly traded companies that collect rent from their properties and pass it along to shareholders in the form of dividends.
Investors dont have to worry about screening or evicting tenants. Instead, they simply sit back and enjoy the dividend checks rolling in when they pick a winning REIT.
And some REITs have seriously blue-chip tenants including the U.S. government. We all pay taxes, so why not get some money back in quarterly distributions?
Here are a couple ways to act as landlord to Uncle Sam. With markets being volatile, a steady stream of rental income might make you sleep better at night.
Earned Income Tax Credit
Like the CTC, this credit was also expanded under the American Rescue Plan as a way to help low- and moderate-income families with children. The credit can be as much as $1,502 for workers with no qualifying children, $3,618 for those with one child, $5,980 for those with two children and $6,728 for those with at least three children, according to the IRS. You will need to file a return by Nov. 17 to claim it. Visit the IRSs EITC page for more info.
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Cares Act Eviction Protection
The Coronavirus Aid, Relief, and Economic Security Act, signed into law March 27, 2020, was the first piece of legislation to provide eviction protection. It specified that tenants could not be served with an eviction notice until July 25, 2020. As usual, the eviction notice must give the tenant 30 days to leave the property.
During the 120-day eviction moratorium, landlords could not charge late fees, penalties, or other charges for paying rent late. The eviction moratorium did not relieve anyone of the obligation to pay rent. It merely prevented landlords from evicting tenants during that period for late or nonpayment.
The CDC issued a new targeted eviction moratorium on Aug. 3, 2021, for areas of high or substantial COVID-19 transmission rates, effective through Oct. 3, 2021. However, on Aug. 26, 2021, the Supreme Court vacated the CDC order, effectively ending the eviction moratorium.
Determine Whether A Loan Or An Assistance Program Is Right For You
Everyone should feel safe and secure in their own home. But you dont always feel safe when the rent is due and you cant cover the bill. Depending on your situation, you may qualify for a loan or rent relief assistance program that can get you back on your feet and once again feeling secure.
As with most financial programs, though, be sure to research the fine print attached to any loan or emergency assistance you accept and understand the terms for repayment and usage.
With the right planning and a little help, you no longer have to dread the beginning of each month and can go back to looking at a new page on your calendar as a time for fresh possibilities.
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Recover Back Rent Apply For Rental Assistance
Rental assistance can help you recover rent that your tenants owe and get your finances back on track. Heres what you need to know to get started.
How To Find Unclaimed Money
If a business, government office, or other source owes you money that you dont collect, it’s considered unclaimed. Unclaimed property can include many things, including cash, checks, money orders, security deposits, or the contents of safe deposit boxes.
The federal government doesnt have a central website for finding unclaimed money. But you dont need to hire a company to find unclaimed money for you. You can find it on your own for free, using official databases.
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What Tenant Documents Are Required To Determine Eligibility
- Completed CERA Tenant application.
- Copy of state ID or passport for the tenant applicant
- Most current copy of lease agreement in tenant’s name
- Provide all available proof of earned and unearned income for household members that live at the property and that are over the age of 18.
- Pay stubs or benefit statements for household income or benefits for two weeks, OR
- Copy of submitted 2020 or 2021 IRS form 1040
Emergency Housing Payment Assistance During Covid
THIS PAGE IS ARCHIVED. The Department of Housing and Community Development provided vital aid to families in need during the COVID-19 health crisis.
This is a historical page about the Eviction Diversion Initiative and federally-funded emergency housing payment assistance programs during COVID-19. If you are a renter, landlord, or homeowner currently seeking assistance please click here.
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Eviction Diversion Initiative And Federal Emergency Housing Payment Assistance Programs
In October 2020, the Baker-Polito Administration launched the Eviction Diversion Initiative , a comprehensive set of resources to support tenants and landlords during the financial challenges caused by the COVID-19 pandemic. The goal of this initiative was to keep tenants safely in their homes and to support the ongoing expenses of landlords once the pause of evictions and foreclosures expired on Saturday, October 17, 2020.
This initiative consisted of an expansion of existing state programs, including the Residential Assistance for Families in Transition program, Housing Consumer Education Centers , and the Tenancy Preservation Program , as well as the creation of new programs including mediation, legal services, and the federal emergency housing payment assistance programs.
- During the COVID-19 crisis, federal emergency housing payment assistance programs provided crucial support in rental, mortgage and utilities assistance to residents across the Commonwealth of Massachusetts. These programs included the Emergency Rental Assistance Program , the Subsidized Housing Emergency Rental Assistance , and the Emergency Rental and Mortgage Assistance programs.
- These programs supported MA residents who were impacted by the COVID-19 pandemic, providing assistance to those who lost their jobs or income, struggled to make rent, mortgage, or utilities payments, and/or were at risk of becoming homeless.
Help For Renters During The Coronavirus Pandemic
Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Thomas’ experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning.
What if losing a job, even temporarily, means you need rent relief? As states attempted to slow the spread of the coronavirus by imposing lockdowns or stay-at-home orders, paying the rent became more difficult. Even after many states lifted lockdowns, economically impacted renters have wondered what relief they can get to help pay the rent or avoid eviction.
While programs for homeowners that prevent foreclosure and eviction or provide mortgage payment relief are available from the federal government, states, municipalities, and private lenders, many programs also offer help for renters. These programs were active during the height of the coronavirus lockdowns and stay-at-home orders, but many are expiring or have expired.
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Food Stamps And Meal Programs During The Covid
Because of the COVID-19 pandemic, it may be easier for you and your family to get food stamps and take part in meal programs. Contact your state’s social services agency to see if you’re eligible.
During the pandemic:
Food stamp recipients may receive additional funding. More people may be eligible to receive SNAP during the pandemic than normally.
Parents whose kids’ schools are closed can pick up school meals for their kids to eat at home.
People can enroll in food programs remotely rather than in person. This applies to programs for pregnancy, families, seniors, and people with disabilities.
Us Department Of The Treasury
- Racial Differences in Economic Security: HousingOctober 27, 2022Statement by Secretary of the Treasury Janet L. Yellen on the Announcement of the Price CapDecember 1, 2022 To date, Tribal governments have planned or begun implementing over 3,000 culturally relevant projects and services https://t.co/2eXqGBbsY6 Fri, 12/02/2022 – 15:13
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Find Out If You Qualify
According to the Department of Treasury’s guidance, eligible households must meet three general qualifications: They’ve lost money because of COVID-19 or its economic fallout they’re a low- or middle-income household and they’ll have trouble finding a new place to live.
In short, showing financial hardship is key. Applicants need not necessarily have fallen ill from the coronavirus, but they must have lost income due to business closures, lockdowns, layoffs or an illness in the family related to COVID-19.
Beyond that, specifics will depend on where you live and the program you apply to. Also, some programs will prioritize tenants based on how dire their situation is: Those who are facing eviction, are elderly or earn a very low income could get moved to the front of the line.
Office Properties Income Trust
As the name suggests, this REIT owns a lot of office buildings its portfolio consists of 162 properties totaling 21.2 million square feet.
While real estate prices in the U.S. have been trending upward, OPI hasnt gotten much investor attention.
Over the past 12 months, OPI shares have tumbled 44%.
But there is something that makes the company stand out: it has a quarterly dividend rate of 55 cents per share and an annual yield of 16.4%.
To put that in perspective, the average S& P 500 company yields just 1.7% at the moment.
Unlike Easterly, OPI is not a pure-play government landlord. But the U.S. government is the REITs biggest tenant, contributing 19.1% to its annualized rental income.
Its other top tenants include big names like Google parent company Alphabet, the State of California and Bank of America.
The company says it earns 63% of its revenue from investment grade tenants that is, tenants that pose a low risk of default.
In Q3 of 2022, the REIT leased 606,000 square feet of space for a weighted average lease term of 7.2 years and a weighted average roll up in rent of 21.6%.
Just like Easterly, OPI has received an average rating of Hold from analysts but the best could be yet to come: the average price target on OPI is $20 roughly 46% above the current levels.
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Details On The Subsidized Housing Emergency Rental Assistance Program
The Subsidized Housing Emergency Rental Assistance program stopped accepting new applications on April 15, 2022. SHERA was a federally-funded emergency rental assistance program which allowed qualified Public / Local Housing Authorities and owners of affordable housing properties to apply online for Emergency Rental Assistance on behalf of multiple residents in a single application to expedite relief for residents.
Participating owners committed to divert evictions through industry best practices and a six-month protection against eviction for non-payment of rent for participating residents. These steps were essential in ensuring stable housing for residents affected by the COVID-19 pandemic.
Households had to attest to unemployment, decreased wages, or increased expenses due to COVID-19. COVID-19 impact could be indirect, and included cases where a household was either directly impacted by COVID-19 OR had been affected by related issues since March 2020. This could include losing a job, having hours reduced, losing access to childcare or dependent care, seeing increased expenses, or something else.
The SHERA program requirements and materials are archived here.
Rent Assistance And Legal Help
Gov. Jay Inslee issued a proclamation prohibiting evictions due to tenants not being able to pay rent due to the COVID-19 pandemic. The proclamation ended on Oct. 31, 2021.
If you need rent assistance, you or your landlord can contact the local organization handling rent assistance applications in your county: List of county Eviction Rent Assistance Program providers.
If you are a tenant under 25, you can also contact a local Youth and Young Adult Eviction Rent Assistance program provider.
In addition, there are two legal resources available to tenants and landlords.
- Eviction resolution program. You can contact your local dispute resolution center and ask for their help resolving eviction-related issues. You can find a directory of centers here.
- Right to counsel legal program. Tenants who receive public assistance or are very low income $25,760 annual income for an individual or $53,000 for a family of four can access a lawyer for free during eviction proceedings. Contact the Eviction Defense Screening Line at 855-657-8387 or apply online at the Northwest Justice Project.
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Emergency Cash Loans For Rent Payments
Most landlords arent big fans of waiting for their monthly rent check. Being just a day or two late can result in late fees and penalties that make a hard-to-pay bill even more difficult to manage.
But, if you have a steady income, there are lenders that work to process emergency cash loans quickly so you can pay your bills without incurring extra late fees. And many of these lenders, including those listed below, work with borrowers who have damaged or thin credit profiles.
See representative example
One of the webs leaders in short-term cash loans, CashAdvance.com specializes in helping borrowers find payday loans between $100 and $1,000. Its network lenders consider bad credit applicants who can show a monthly income of at least $1,000 and at least 90 days on the job.
Just remember that a payday loan typically charges a higher interest rate than a traditional personal loan as much as 200% to 2,290% APR. You should use these types of loans with caution, and carefully review the terms before agreeing to the loan.
Student Loan Refund Checks
While most federal student loan borrowers wait for the various legal cases to play out, some borrowers are already getting refunds. Checks are being sent to certain student loan borrowers who paid down their student loans after the pandemic pause took effect in March 2020. Despite the pandemic pause, an estimated 8.8 million people made at least one payment between March 2020 and December 2021. No additional action is needed in terms of claiming an eligible payment refund, but borrowers do have to submit their student loan debt relief applications.
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Social Security Payments For December: When Is Your Money Coming
Social Security payments for December started going out this week. See when your payment will arrive.
Katie is a writer covering all things how-to at CNET, with a focus on Social Security and notable events. When shes not writing, she enjoys playing in golf scrambles, practicing yoga and spending time on the lake.
The Social Security Administration this week started disbursing December payments. In , youll get your first increased benefit amount. For those who receive Supplemental Security Income, youll get your first increase in December. Well explain why below and how the timing of Social Security payments works.
This month, keep an eye out for a letter in the mail about your Social Security benefits increase for 2023. Itll have details about your individual benefit rate increase for next year or you can also check your benefits online using your My Social Security account.