Congress gave the IRS the job of sending out coronavirus rescue checks. But the underfunded agency is struggling, while for-profit companies like Intuit have started circling, hoping to convert Americans in need into paying customers.
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JPMorgan Chase, the country’s largest lender by assets, is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption.
While the medical community battles covid-19 and saves as many lives as possible, the economic fallout from stay-at-home measures continues. The swift wave of unemployment and the financial hardships from furloughs, reduced wages and commission cuts have left many homeowners worried about how they will make their mortgage payments in coming months.
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Chase Bank is offering special assistance to customers who have been financially impacted by COVID-19. If you already have a home loan with Chase and have lost work due to the coronavirus, you may qualify for mortgage deferment, also known as forbearance.
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