Loan Deferral for Individuals and Small Businesses (May Cover Eligible Employees, Independent Contractors, and Firm Owners):

Major private financial institutions and government programs have announced that those substantially affected by COVID-19 may defer payments on mortgages, student loans, and other forms of debt. These programs may help you to temporarily reduce your monthly expenses and avoid foreclosure fees.

An article in The Simple Dollar provides helpful resources regarding these concerns.


**Please note that the information provided includes condensed summarizations, descriptions, or opinions about recently enacted statutes. The information is not intended, nor should it be construed, to be legal advice. Members with needs or questions concerning the specific issues mentioned should seek the guidance of competent counsel or should contact the appropriate federal agency.