Newly unemployed now worry how to pay rent

Newly unemployed now worry how to pay rent

As more people lose jobs during the COVID 19 pandemic, worries grow over how to pay the rent, the mortgage, and bills.

“I’m worried because we were a two household income and now we’re down to one,” says Rose Hymen, who’s husband just lost his landscaping job.

“I’m going to call my landlord and find out what we can do so that I can either defer that payment or make half a payment, it’s very difficult,” Hymen says.

“These are not normal circumstances,” says financial advisor Dave Wentley.

Wentley says he expects Congress to get a large stimulus aid package that will put checks in the hands of Americans to help pay the bills.

"I would think if the first round of stimulus to the individual doesn't work they'll come right back with another one," Wentley says.

He also expects penalties on early withdrawals from retirement plans to be waived allowing more relief.

“If you need to tap into that 401k to pay a bill or address something immediate in your life do it, just go ahead and do it and be done with it.”

Scripps Only Content 2020