Mortgage payments to be suspended?

[CatPhight_rivals65113]

Wow, **** just got real...the suspension of federally backed loans being tossed around?

Completely unprecedented with unimaginable fiscal consequences down the road.

 

[LineSkiCat14]

Who is tossing it around exactly?

 

[-Mav-]

Who is tossing it around exactly?

"They."

 

[CatPhight_rivals65113]

Who is tossing it around exactly?

The origin likely spun off from the whole foreclosures/eviction frenzy, mainly housing authorities at various
levels in fed and state govs. It was on CSPAN earlier - essentially question was why should deadbeats
get protection from losing their homes, while others get screwed. Another was will US take similar steps
to protect folks from losing their homes, as Italy has done. (they've already suspended them)

Sad fact is, a lot will not be able to make their mortgage or rent...other side of the coin is landlords gotta eat too.

This drives at the heart of a most basic essential need - shelter. I suspect we'll soon see a shift from partisan
bickering over into a protracted war of words between the perceived "haves" and the have nots" and spill over to
God knows where in the coming weeks and months.

 

[CatPhight_rivals65113]

Basically this - https://www.americanbanker.com/news...alt-foreclosures-evictions-amid-health-crisis

 

[funKYcat75]

"They."

The Left.

 

[Tskware]

Commercial landlords and lenders are going to be in a pickle real soon with all the restaurants and bars closing. What is the point of evicting/foreclosing? Who are you going to put in the space at the moment who can pay rent or mortgage payments?

Better in my view to forgo rent/mortgage for 90 days or so, add it to the back end of the lease/mortgage, and let the small business owners get up and running again this summer, when I expect things to begin to get back to normal.

 

[Rebelfreedomeagle]

The Left.

Uh huh. That's just what they want you to think. Open your eyes.

 

[LineSkiCat14]

The origin likely spun off from the whole foreclosures/eviction frenzy, mainly housing authorities at various
levels in fed and state govs. It was on CSPAN earlier - essentially question was why should deadbeats
get protection from losing their homes, while others get screwed. Another was will US take similar steps
to protect folks from losing their homes, as Italy has done. (they've already suspended them)

Sad fact is, a lot will not be able to make their mortgage or rent...other side of the coin is landlords gotta eat too.

This drives at the heart of a most basic essential need - shelter. I suspect we'll soon see a shift from partisan
bickering over into a protracted war of words between the perceived "haves" and the have nots" and spill over to
God knows where in the coming weeks and months.

There's a lot of debates over the last week or two in the /RealEstate subreddit, that if mortgage loans are temporarily pushed back, then Landlords need to do the same for their tenants, both morally and from a fiscal standpoint. I'm prepared to let me tenant skip her payment(s) if that happens.

But I can't imagine the ramifications to the economy if something like this happens. I think we're getting a bit nutty at this point.

 

[funKYcat75]

Uh huh. That's just what they want you to think. Open your eyes.

Oh. I meant The Right.

 

[Bigblue2023]

I'm not seeing this being considered anywhere on a federal level. Where are you seeing this being reported?

 

[TheDude73]

Works awesome for me. We just signed refinance papers today. Maybe they'll delay our first payment May 1!

 

[rbs]

You shouldn’t fix what only time can deal with. By that, I mean we don’t need to wrongly manipulate something seeking a quick fix when the fix creates a bigger problem. Unfortunately, we are just going to have to ride some of this out and let time take it’s course.

 

[CatPhight_rivals65113]

I'm not seeing this being considered anywhere on a federal level. Where are you seeing this being reported?

It was on CSPAN this morning...discussion had some financial sector SME of what happens when mortgages are perpetually missed.

Then Italy came up and it devolved with crazy *** questions that will soon need answers.

 

[CatPhight_rivals65113]

There's a lot of debates over the last week or two in the /RealEstate subreddit, that if mortgage loans are temporarily pushed back, then Landlords need to do the same for their tenants, both morally and from a fiscal standpoint. I'm prepared to let me tenant skip her payment(s) if that happens.

Wow, that would certainly be an awesome thing to do.

We may very well see a return of boarding out of necessity, like it was during the depression & WWII, when this thing breaks in earnest.

 

[BankerCat12]

Can someone post the woman from an Obama rally that thought with Obama being elected she would not have to pay her mortgage payments again. Its a classic.

 

[nerdcat_rivals308595]

This crisis like the one before really exposes the underlying weakness of our economy. There is so little individual and corporate savings and so much debt that even a month of economic downturn creates havoc. I know it will be longer, but this is just getting started, and the government, after this stimulus, will have pretty well already played all its cards.