Have you been negatively impacted by the corona virus? A vast majority of American’s have. The good news is, you don’t have to navigate these troubling times alone! Fortunately there is hope and it comes in the form of the CARES ACT.
What is the CARES ACT?
The CARES ACT stands for Corona Aid, Relief and Economic Security.
And was created in March 27th 2020 to help combat the negative impacts of the novel corona virus through July 24th 2020.
The CARES ACT Protects many different types of renters, business owners and home owners from the domino like impacts left by the spread of the COVID-19 pandemic. Some of The CARES Act protections that may apply to you are listed below.
From March 27 to July 24 2020 if your rental situation falls in one of the categories below, the CARES act will protect you if:
- A legal action filed to evict you from your home for failure to pay rent or charge fees.
- Penalty Fees, late charges or other fees associates with none or late payments.
- Serve or provide a 30 day vacate notice until July 25 2020.
If your Landlord is also receiving CARES Act relief from their mortgage payments on the residence you are renting from them you may be protected longer than July 25 2020.
If evictions notices were filed before before March 27 The CARES Act may not protect you.
Some states have prohibited any eviction notices.
Workers and American Families.
The CARES Act will provide a stimulus check in to adults who’s income was less than $99,000. It will also provide payments to children and people on social security or disability. You can now use the new portal to collect payments quickly instead of waiting on another check. Click here to learn more through the US Treasury website..
Small Business Owners
The CARES ACT also helps small business owners. Many small business owners need quick financial assistance to adjust and overcome the economic impacts of social distancing and quarantines. This is exactly what the CARES ACT was created to assist with. Click here to learn more about the CARES Act for small business in your state.. CARES ACT in your state.