If not extended, the pandemic unemployment payments that millions of Americans are currently getting will run out at the end of the month… just as August rent is due.
In July, 32% of people had either missed or only made a partial payment, which doesn’t bode well for August if pandemic unemployment benefits aren’t extended.
A recent survey found that the problem is worse for those making less than $50,000 a year and many have been relying on the $600 per month to be able to continue making their payments.
“When it comes to the potential end of federal pandemic unemployment payments, it’s not just renters who are worried. Apartment List found nearly 20% of homeowners are now seriously concerned about foreclosure.”