Cook County launched a mortgage assistance program, as part of their C-19 recovery program funded by The CARES Act. It provides payments directly to mortgage providers of up to $10,000. The fund is estimated to help around 3,000 homeowners.
To be eligible, applicants must prove
1 – They underwent a C-19 related financial hardship.
2 – Their income before and during the pandemic was and is below $127,400.
3 – Their mortgage arrearage occurred after March 27th.
4 – They haven’t received other CARES Act funded mortgage assistance.
There is a 25% set aside for the following
1 – Those living in the areas hit hardest by the pandemic
2 – Those making below 80% of median income
Please go to the following for more information.
https://www.cookcountyil.gov/
Let me leave you with this.
There is further news on our economy, six months into the pandemic. It all comes down to the fact that in economically uncertain times, consumers and entrepreneurs become afraid to spend money.
Urban areas have borne the brunt of the economic difficulties. Cities have imposed strict restrictions in an attempt to control the virus in concentrated populations. Many jobs are high-contact, such as those in retail, dining, and entertainment facilities.
Rural areas are different. We had the chance to spend some time with my in-laws in rural Indiana. Not much has changed there. Other than wearing masks to medical appointments, it’s pretty much the same.
Hundreds of thousands of area jobs have been lost, consumer spending initially dropped 43%, and half of the temporarily closed businesses have closed permanently.
Unemployment is a consistent and nagging problem, but many say that it is still difficult to find qualified people. I would have to agree. We’ve been trying to hire someone for the past month, and continue to have the same problems we’ve had in the past. The one basic truth of entrepreneuring seems to still be sadly in place.
It’s always hard to find the right people. That being said, let’s look at the bright side.
With so many businesses closing, there is opportunity in the wind. Businesses that would normally not be available, need help. Potential clients need new sources for products. Consumers need new sources for goods.
Hang in there. You’ll do fine, but do so knowing that we are here to help.
Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. If there is anything you need, whether you are a current client or not, you have but to ask. I’m here, and I remain,
Sincerely yours,
Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
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773-267-7500
chris@accountingsolutionsltd.com
