Chris Arnold

Updated on April 15 at 11:19 a.m. ET

Those $1,200 federal payments to help Americans through the coronavirus crisis have started arriving in some people's bank accounts via direct deposit. But many people will have to wait longer — and there could be pitfalls, such as debt collectors grabbing the money before you do.

Those who'll be getting checks in the mail may not see them for weeks or even months. To get the money faster, millions of people will have to provide direct-deposit account information to the IRS.

Updated at 2:58 p.m. ET

About a third of renters did not pay on time this month as business closures put millions of people out of work.

The National Multifamily Housing Council says 31% of renters didn't make their payment in the first week of April. Normally, about 20% of people don't pay their rent on time. The group tracks more than 13 million units through its survey.

Updated at 3:28 p.m. ET

Homeowners who've lost their jobs or income say their lenders are demanding punishing terms if they take part in what's supposed to be a government effort to help them.

To avoid a wave of home loan defaults, Congress and regulators told lenders that they have to let homeowners defer payments if they've been hurt financially during the coronavirus crisis.

Rent is due for the first time since millions of Americans lost their jobs or incomes as the coronavirus pandemic shut down large swaths of the U.S. economy.

Many renters are in a tough financial spot because they received fewer protections out of the $2 trillion economic rescue package than homeowners did.

Banks are being ordered to allow people hurt financially in the coronavirus pandemic to skip mortgage payments. Some lenders are doing this for auto loans, credit cards and small business loans with no negative impact on people's credit scores.

If you're asking for this kind of help, NPR wants to hear from you.

We want to know how all of this is playing out. Are banks and other lenders working to help you? If you're a renter, is your landlord being flexible? We want to hear your experiences.

Updated at 2:49 p.m. ET

Homeowners who have lost income or their jobs because of the coronavirus outbreak are getting some relief. Depending on their situation, they should be eligible to have their mortgage payments reduced or suspended for up to 12 months.

As the economy rapidly shuts down, many small businesses around the country are on the verge of collapsing. They have a message for the federal government: Please send money fast or we'll be out of business.

After the financial crisis hit in 2008, millions of Americans who worked at small businesses lost their jobs. It happened in just a matter of months. That's because many smaller businesses operate kind of like people who live paycheck to paycheck, without much savings.

In an unprecedented attempt to contain the coronavirus outbreak, thousands of stores and other businesses are closing their doors to customers.

Apple, Nike, Patagonia and scores of other retailers are closing thousands of stores across the country. In the nation's largest cities — New York City, Chicago, Los Angeles and San Francisco — officials said they were ordering restaurants, bars, and cinemas to close. Restaurants will be permitted to do takeout business.

In what's looking more like a public health debacle, the U.S. has a serious testing problem with the coronavirus. Only around 15,000 people have been tested so far, according to the Centers for Disease Control and Prevention. And public health experts say that's not nearly enough to know how widespread the outbreak is and how to respond.

But the Food and Drug Administration has just approved a new test from the giant pharmaceutical company Roche that could represent a major breakthrough.

STEVE INSKEEP, HOST:

Many people across this country have been calling up mortgage companies and refinancing their home loans because mortgage rates have been hitting record lows. NPR's Chris Arnold is following all of this. Hey there, Chris.

CHRIS ARNOLD, BYLINE: Hey, Steve.

INSKEEP: What is causing people to ask about refinancing now?

A dramatic drop in mortgage rates may give prospective homebuyers a chance to afford the house they've been eyeing — or may lower monthly payments for homeowners who refinance.

Last week, fears over the novel coronavirus outbreak's anticipated economic impact sparked the most dramatic stock market sell-off since the 2008 financial crisis. Stocks rallied Monday on expectations that the Federal Reserve will cut interest rates to boost the economy.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

MARY LOUISE KELLY, HOST:

If you're looking to sell your home and avoid people tromping through your living room at open houses, there's a new option that's becoming popular in many parts of the country. Companies called iBuyers, or instant buyers, use computer algorithms to make you an offer, often within a day.

With rising home prices, many young people think they can't afford homes. But there are alternatives to the traditional 20% down payment, giving more people the opportunity of homeownership.

Listen to the full story on finding the right mortgage from Life Kit here.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

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