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The Coronavirus Pandemic Safety Net Is Coming Apart. Now What?

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Distressed homeowners with loans owned by private banks or investors should contact their mortgage servicer to see what options they’re offering — some of them have followed a framework similar to federally backed loans, but others’ terms may be murkier.But no matter what type of loan you have, the most important action to take now is to reach out to your mortgage servicer to find out when your payments will resume and how much they will be. If you cannot afford them, the servicer can lay out your options. For more guidance, you can also seek out a housing …

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