Tag: Pay

Some homeowners struggled to pay PACE improvement loans. The coronavirus made it harder

It wasn’t until the work was done that Marcelino and Josefina Rodriguez said they learned the truth.

They had been signed up for a roughly $45,000 PACE home improvement loan at nearly 10% interest — even though they said a woman working with the contractor told them their new roof and water heater would be free through a government program.

The Rodriguezes contacted the authorities, but the nearly $4,500 annual bill came due anyway — a financial hit for the household of four who scraped by on less than $30,000 each year as garment workers paid by the piece.

If

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Pay cuts for top officials might not be enough as UM faces crisis, considers layoffs

The University of Miami stands to lose “hundreds of millions of dollars over the coming year” due to the financial havoc wreaked by the novel coronavirus, according to an email sent this week by President Julio Frenk to the Canes community.

“COVID-19 has taken many thousands of lives, hundreds right here in our community,” he said. “Compounding that loss, we are facing a significant economic disruption.”

To help offset the projected losses of closing campus this spring and summer and possibly the fall, Frenk said his administration will expand budget cuts announced earlier this month and implement new measures, including

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