If your pandemic relief has run out, here are steps to defer personal loans and mortgages

Second of a two-part series

For those struggling to keep up with their debt, there are relief options available from banks, lenders and the federal government.

In the second of two stories about these options, we look at personal and real estate loans. If you can't pay your loans or soon won't be able to, one of these programs may be able to help.

Personal loans

Many banks are stepping up to waive fees and help consumers stay on track with their loans despite losses in income. For example, Marcus by Goldman Sachs is letting customers defer payments on their personal loans for one month without accruing interest.

If you're unsure if your lender is offering assistance on personal loans, contact it directly to ask. New programs may be announced on a rolling basis, so regularly check to see if help is available.

Home equity loans

For example, Bank of America is offering a three-month or longer payment deferment if your income has been affected by the coronavirus pandemic. If you're struggling to stay on top of your home equity loan, call your lender to learn more about your options.

List of lenders providing loan relief

This is not an exhaustive list. Contact your lender for details about hardship-assistance programs it offers.

Other steps you could take now

Talking with your lender as soon as possible is one of the most effective ways to get immediate payment relief during financial hardship. In addition to setting up payment deferment or forbearance, there are a few other steps you can take if you can't pay your loans.