House passes the bill AND Loan relief for SBA loans, student loans, personal mortgages, HPOG

The House of Representatives just passed the Stimulus Bill a few minutes ago in the early afternoon in Washington D.C.

We’ve already covered a great deal of it.

Here’s some more information about how your debt will get forbearance:

• Most student loans will be suspended through September 30, including interest charges.

• The SBA will cover interest and principal payments for six months for existing SBA-backed business loans.

• HPOG funding for health professionals will continue through November 30. It is unknown if they will expand the nature of what they will fund.

Click here for more details:

https://www.acatoday.org/News-Publications/Publications/ACA-Blogs/ArtMID/6925/ArticleID/1550/Senate-Approves-Coronavirus-Economic-Relief-Package

Thanks to Advanced Health and Wellness for the above information.

Gov. Newsom announced that over 200 banks, including 4 of the 5 major California banks have agreed to suspend loan payments for 90 days (only B of a limited this suspension to 30 days). It is expected that other financial institutions will follow. Contact your mortgage holder for more information.