Here are 8 steps to take if you can't make ends meet because of the coronavirus. (via CNBCMakeIt)
You will want to research what different lenders offer to compare interest rates and other loan terms. If you have a relationship with a bank already, it may be able to offer you more competitive terms.and borrow against the value of your home if you own. But know that there are potential downsides to this strategy, including upfront costs and potentially high interest rates if you don't have a good credit score.a personal or home equity loan, you may need to use a credit card.
Again, people with higher credit scores will qualify for better deals, so if you have a low score, use the cards you already have before applying for a new card and possibly being denied.If you are having trouble paying your mortgage, your first step should be to seek out a legal advocate, according to the National Consumer Law Center. From there, you can send hardship letters to lenders, like your mortgage company, to see what your options are.
Food banks are one resource , and there are organizations that can help with bills like utilities. Places of worship will also offer support in these times. Social media sites like Facebook are a good place to start your search for community groups and your local governments should also be able to provide information on where to find these groups if you contact them.You may also be able to tap your retirement savings, though financial advisors say this should be close to a last resort.
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