Amid the COVID-19 pandemic, a housing crisis is emerging. According to CoreLogic analysis, new mortgage delinquencies hit an all-time record in April 2020. Unfortunately, the military community has been hit hard by this crisis. When the PenFed Foundation launched its COVID-19 Emergency Financial Relief Program in early March, most of the 6,000 service members and veterans who applied requested help paying their mortgage or rent.
When the pandemic began, retired Army veteran Racheal Robinson saw an immediate impact when her husband lost his job. Robinson, who served in combat in Iraq, was at risk of facing foreclosure and losing her family’s home. She applied for the PenFed Foundation’s COVID-19 relief program in March, and the Foundation was able to assist her with payment on her defaulted mortgage.
“Thank you so much for your assistance, it has come in just the right time!” Racheal said. “Thank you for helping ease the stress of COVID a little this month.” Racheal’s family is now able to turn their focus to helping others in their community in Minneapolis. “We’ve been partnering with the community and local churches to get supplies and other essentials to all who are affected in the Northside community.”
If you’re experiencing a financial hardship due to the coronavirus, please take a look at our website for available resources in your area:Find resources