June Newsletter

by Jonathan Maines 06/08/2020

Late Payments. Credit Score. COVID-19.

Hey there,

States are reopening. Families and businesses are seeking to find a new normal. Despite the progress, thousands of Floridians are left to manage the financial hardships brought on by COVID-19. Credit card bills. School loans. Rent. Mortgages. Many are asking, “will my late payments during the COVID-19 crisis impact my financial future?”

Over the past several weeks, I have sought to understand the emerging loan forbearance guidelines for lenders in various settings. The Coronavirus Aid, Relief and Economic Security (CARES) Act does offer a wide range payment of exemptions however, it is important to note the action likely required on the part of the borrower.

Without formally agreeing to alternative payment options with your lender, any missed or partial payments may appear as “delinquent” on your credit report. Due to the complex and ever-evolving nature of these policies, I encourage you to contact your lender directly to discuss various payment deferment agreements along with any corresponding penalties.

Additional resources surrounding this subject can be found in the links that follow (MarketWatch, Forbes, Experian). As always, with any further questions regarding the buying or selling of your home, do not hesitate to reach out. I am only a call, text or email away!

Sincerely,

Jon Maines, P.A.

Phone: (239) 682-8472

Email: [email protected]

Address: 1100 5th Ave S Ste 101B

Naples, FL 34102-6407

About the Author

Jonathan Maines

After graduating from the University of Wisconsin- Eau Claire, Jon moved to Naples, Florida in 1989 where he took a job with the Naples Police Department. In 1991 Jon married his wife Kathy, also from Wisconsin, and had two children. During the next 19 years Jon continued to work for the Naples Police Department ultimately becoming a Lieutenant. During this time he and Kathy also became successful real estate investors. In June 2010 Jon retired from the Naples Police Department to focus his energies into being a successful Real Estate Professional. Jon believes that his faith, honesty, integrity, knowledge and hard work have been the key principals to his success in the Real Estate Business. If you are looking for an agent you can count on and trust to give you an honest perspective when looking to buy or sell your home, Jon is here to serve you. Call today for a free market analysis!