COLUMBUS (WCMH) – Many coronavirus relief programs are expiring at the end of 2020, and with no word from Congress on replacement programs, things are uncertain, creating some concern for millions of Americans.
Several federal agencies have been stepping up this past week and assuring people they will not let them begin the new year with more problems.
Two big concerns for millions of Americans at this moment are student loans and housing.
For college graduated looking to pay off their student loans with zero interest, there’s some good news.
The U.S. Department of Education has extended the suspension of federal student loan payments through the end of January 2021, a move which was originally set to expire at the end of this year.
Any new type of relief is for the Biden administration and the new Congress to figure out for millions of student borrowers who have been impacted by the COVID-19 pandemic.
The same applies to the Federal Housing Finance Agency, which also extended its moratorium on foreclosures and evictions until the end of January.
One local company that works with foreclosures said that’s not enough.
“Consumers could figure out a plan for how they were going to attack it and the lending institutions could come up with a plan for how they’re actually going to deal with it,” said Richard Kruse, president of Gryphon USA. “Unfortunately, right now, it’s just another episode of kick the can down the road and nobody knows what’s going to happen so nobody can plan.”
According to its website, Gryphon specializes in working with law firms, lenders, corporations, and individuals in complex transactions, often involving the judicial system, such as bankruptcy, receivership, foreclosure, probate and bank REO.
Another thing people are wondering is whether there will be another coronavirus relief bill from Congress, something that has remained contentious between both parties and both chambers.