COVID-19 Quick Resource – General

How to avoid extra COVID-19 testing charges

Mortgages

It is encouraged to reach out to your lender to discuss forbearance or loan modifications that may apply to your existing loan.

Federal Housing Finance Agency (FHFA)

FHFA has instructed Fannie Mae, Freddie Mac and their servicers to be proactive in providing assistance to homeowners including forbearance. In addition, FHFA imposed a moratorium on eviction and foreclosures on mortgages backed by the GSEs:

• Statement from FHFA Director Mark Calabria on Coronavirus (link is external)
• Press Release: FHFA Suspends Foreclosures and Evictions for Enterprise-Backed Mortgages (link is external)

Fannie Mae and Freddie Mac

Fannie Mae and Freddie Mac have issued similar guidance:

• Homeowners who are adversely impacted by this national emergency may request mortgage assistance by contacting their mortgage servicer
• Foreclosure sales and evictions of borrowers are suspended for 60 days
• Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months
• Credit bureau reporting of past due payments of borrowers in a forbearance plan as a result of hardships attributable to this national emergency is suspended
• Homeowners in a forbearance plan will not incur late fees
• After forbearance, a servicer must work with the borrower on a permanent plan to help maintain or reduce monthly payment amounts as necessary, including a loan modification

Fannie and Freddie have also created pages with additional information:

• Fannie Mae: Coronavirus (COVID-19) Help (link is external)
• Freddie Mac: Foreclosure & Alternatives – Who to Contact for Help (link is external)

Student Debt

• The Department of Education announced (link is external) that it will allow forbearance on federally-backed student loans for sixty days beginning on March 13, 2020. Likewise, the Administration has also waived all interest (link is external) on student loans for this period. You must contact your loan servicer to being a forbearance.
• Servicers are sharing information (link is external) how borrowers can seek remedies.

Internal Revenue Service (IRS)

The IRS has also created a Coronavirus Tax Relief section (link is external) on their website with updated information for taxpayers and businesses (these resources are for businesses and not specifically for consumers).

• Economic Impact Payments: ($1,200 or more)

• • Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child.
  • https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

• Income Tax FILING and PAYMENT Deadlines Extended:

• • In light of COVID-19 crisis, the IRS on March 18 extended the income tax payment deadline (link is external) for individual returns (as well as all other entities) until July 15, 2020. Two days later, the IRS also extended the tax filing deadline to July 15, 2020. Additional forms do not need to be filed to qualify for these extensions.

• Guard Your Information:

• • Tax Time Guide to Guard Personal, Financial, and Tax Information Year-Round (link is external) (these resources are for businesses and not specifically for consumers).

Texas Department of Insurance

Updates and Preparations: https://www.tdi.texas.gov/news/2020/coronavirus-updates.html

• Health insurers and health maintenance organizations are waiving consumer costs for medically-necessary testing of COVID-19. (see above link)
• Many also are offering telemedicine at no cost to consumers. (see above link)

Texas Workforce Commission

• COVID-19 Resources: https://www.twc.texas.gov/news/covid-19-resources-job-seekers#covid1StimulusBillUpdate
• Unemployment Benefits
  • https://www.twc.texas.gov/jobseekers/unemployment-benefits-services
  • If you are self-employed, a contract worker or previously worked in a position that did not report wages, you may qualify for unemployment!
    • https://www.twc.texas.gov/news/covid-19-resources-job-seekers#covid1StimulusBillUpdate
• Child Care
  • https://www.twc.texas.gov/news/covid-19-resources-child-care

IRS on Unemployment Insurance Flexibilities

NOTE: Check with your state’s unemployment insurance program regarding the rules in your state.

The Employment and Training Administration announced new guidance outlining state flexibilities in administering their unemployment insurance programs to assist Americans affected by the COVID-19 outbreak.

Under the guidance, federal law permits significant flexibility for states to amend their laws to provide unemployment insurance benefits in multiple scenarios related to COVID-19. For example, federal law allows states to pay benefits where:

• An employer temporarily ceases operations due to COVID-19, preventing employees from coming to work;
• An individual is quarantined with the expectation of returning to work after the quarantine is over; and
• An individual leaves employment due to a risk of exposure or infection or to care for a family member.

In addition, federal law does not require an employee to quit in order to receive benefits due to the impact of COVID-19.

Learn how to file for unemployment insurance benefits.

Personal & Family Health

• CDC Frequently Asked Questions: https://www.cdc.gov/coronavirus/2019-ncov/faq.html
• Caring for yourself at home: https://www.cdc.gov/coronavirus/2019-ncov/if-you-are-sick/caring-for-yourself-at-home.html
• Caring for another at home: https://www.cdc.gov/coronavirus/2019-ncov/if-you-are-sick/care-for-someone.html
• Coping with Stress:
  • https://content.govdelivery.com/accounts/TXINSUR/bulletins/28433f4
  • https://hhs.texas.gov/sites/default/files/documents/services/health/covid19-stress-tips.pdf
• Statewide Mental Health Support Line:
  • It can be helpful to talk to someone. 1-833-986-1919
  • https://hhs.texas.gov/about-hhs/communications-events/news/2020/03/hhs-launches-statewide-covid-19-mental-health-support-line