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Worried about upcoming bills? {Market Report} March 20th

Worried about upcoming bills? {Market Report} March 20th
March 23, 2020 abryant

Market Report - American Family Funding

 

We have all entered a new space in the world right now!

The implications will impact all of us personally and in our professions.

Our health and the health of those around us is #1 at this time. However, there will be financial challenges for many as we move forward.

Loss of working hours, job cuts and people fearing the upcoming “bills” is super stressful.

WORRIED ABOUT UPCOMING BILLS – TAKE ACTION NOW!

If you see a challenge ahead with any of your upcoming monthly obligations/payments, CALL YOUR CREDITOR RIGHT AWAY!

Creditors are doing many things to help people, such as deferring payments and not penalizing with late fees. I am not positive about lowering interest rates on current accounts, but it’s worth asking.

THIS HAS TO BE DONE BEFORE YOUR 30 DAYS PAST DUE!

You may have trouble getting through, but stay persistent. Make it a TOP priority. A single 30 day late payment hurts your scores by 60-80 points and takes up to 24 months to recover from. Let alone being one of the hardest items to have removed.

Protecting your families and those around you are most important! However, protecting your credit is also pretty high on the list.

 

I think foosball is a combination of soccer and shish kabobs. Be smart and safe out there!

May your thoughts be as glad as the shamrocks. May your heart be as light as a song. May each day bring your bright, happy hours that stay with you all the year long. Happy St. Patrick’s Day!

You know when they have a fishing show on TV? They catch the fish and then let it go. They don’t want to eat the fish, they just want to make it late for something.

Patience is something you admire in the driver behind you, but not in the one ahead.

How to do sit-ups: Lay down, hands behind your head. Wow, this is a good position for a nap. Maybe I’ll just take a nap.

 

Now The Market Report . . .

 

The economy continues to falter, as consumer spending drops and businesses everywhere temporarily close their doors in the fight to slow the spread of COVID-19.

The first of 3 economic stimulus and relief bills has been signed into law. Another is up for vote in Congress, and a third is being proposed by Treasury Secretary Steven Mnuchin.

As expected, jobless claims jumped to a 2-1/2yr high last week. Service-sector companies laid off workers due to the coronavirus pandemic and suggested quarantines.

 

HUD, Fannie and Freddie will suspend foreclosures and evictions for at least 60 days in response to the spread of the coronavirus, a move that will affect about 8.1 million mortgages.

Despite a decline in multi-family construction last month, housing starts were up 39.2% on a year-over-year basis.

Bidet business is booming. Bidets, popular in Europe but slower to gain traction in the U.S., are seeing sales up over 600%. Listings with bidets are now a hot commodity.

 

“Everyone here has the sense that right now is one of those moments when we are influencing the future.”
Steve Jobs

 

This week’s potential market moving reports are:

 

Monday, March 23rd:          None Scheduled

Tuesday, March 24th:          Manufacturing Index, New Home Sales

Wednesday, March 25th:     MBA Applications, Durable Goods Orders

Thursday, March 26th:        Weekly Jobless Claims, GDP

Friday,March 27th:              Consumer Sentiment

Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly mortgage advisor will make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.

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