As summer is passing by quickly and September is just around the corner, people are starting to prepare financially for the fall. However, this fall might look a bit different than others in the past as loan repayments are restarting. Although Biden stated that there will not be another eviction moratorium, yesterday evening, the CDC issued a new federal eviction ban effective across most of the country, a yearlong nationwide halt on rental evictions, through October 3rd, 2021.
According to the CDC, this new eviction ban is being extended for areas of the country that are still facing high levels of the coronavirus. So, for those who have been unable to pay their housing payments for the last year, the CDC has granted you another 60 days. Be sure to do some research on whether this extension applies to your state and also do further investigating on whether your state is providing supplemental local or state assistance if you still need further financial help.
While there was some back and forth on the eviction moratorium, many people are speculating that this might also hint at the end of the Federal Student Loan Relief, which is set to expire September 30, 2021. So, for those with federal student loan payments, take this next month to save and financially prepare for this new payment that you may have taken a break from over the last year or so.
Check out some of our other blogs that will help discuss topics such as budgeting, refinancing, spending and savings tips to help prepare you to pay back some of these loans during such a hard time. If you have any questions for us and want help looking at your financial picture, email us at info@shermanwealth.com or schedule a complimentary 30-minute appointment here.
