If you lost your job and have a mortgage with Citigroup, you may be able to pay just $500 a month on your mortgage for three months, according to a CNN story. “Some homeowners may be able to get extensions after the 90 days expire, depending on their situation,” the story says.
To qualify for the Citgroup Homeowner Unemployment Assist program, you must be 60 days or more past due on your mortgages or in foreclosure. “The house must also be the customer’s primary residence,” according to an AP story.
Unemployed workers can also pay significantly less for health insurance because of the stimulus package. Previously, COBRA allowed workers to continue coverage for 18 months if they paid the entire premium plus a 2% administrative fee. Now, the stimulus package will cover 65% of the COBRA payment for workers laid off between Sept. 1 and the end of 2009.
“If you delayed signing up for COBRA coverage when you lost your job, you have 60 days to re-enroll after you receive a notice from your employer,” says a USA Today story. Keep reading for more details.
March 4th, 2009 at 10:50 am
This stimulous support for healthcare coverage would bring the cost for cobra down from $1,500/month to about $500/month. I get 2,050/month from unemployment, pay 1,500/month for mortgage and I have 550/month left for food and cost of living for myself and two kids. Although the support is better than nothing, are still not in touch with reality.