NORTHEAST WISCONSIN (NBC 26) -- Income has stopped coming in, but the bills haven't.
It's a harsh reality for some families in Northeast Wisconsin. To help, we talked with financial assistance experts about what to do and where to turn. A resource many people are using is Goodwill's Financial Information and Service Center.
“Right now it is an emotional time, so we need to listen and help them sort out what’s most important for them right now," Becky Smith said.
Smith said the center has been busy during the coronavirus pandemic. Every situation is different, but generally, Smith said paying the mortgage and secured debt is a good place to start.
“They need to keep their house," she said. "If they get a little bit behind in their credit cards, hopefully they can catch that up later. But the consequences of not staying current with the mortgage is a bigger challenge if they get behind.”
If that bill can't be paid, experts at NeighborWorks Green Bay said it's critical to let your creditor or lender know.
“The number one recommendation we have for folks is if you are struggling and you’re going to miss a payment or be late for a payment, talk to your landlord, talk to your lender, talk to your loan servicer, make sure they understand the circumstances you’re in and ask what options they might have for you right now,” NeighborWorks Green Bay President Noel Halverson said.
Right now, there is a ban on evictions and foreclosures for homes with a federally backed mortgage. However, those bills will come due. Halverson recommends homeowners learn their individual options, which could include pausing payments or pushing them to the back end of a mortgage.
