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Giving people handouts and halting evictions is a recipe for disaster
Posted on 8/8/20 at 12:01 pm
Posted on 8/8/20 at 12:01 pm
It'll only encourage irresponsibility that we'll have to deal with down the road. Tons of people went into forbearance just because they could. They didn't even need to but did so anyway. Now what do you think will happen when people have no fear of being evicted?
The money they receive should be enough to cover basic needs including rent and mortgage payments.
It's a bad idea as it just prolongs the hurt and passes the buck.
The money they receive should be enough to cover basic needs including rent and mortgage payments.
It's a bad idea as it just prolongs the hurt and passes the buck.
18
Posted on 8/8/20 at 12:09 pm to stout
State and local governments are going to be on the hook for $100s of billions already that is only the short term.
They all know its coming, its a taking. Eventually these municipalities that are involved in this will be filing for bankruptcy, States can't file for bankruptcy.
The question that I wonder is if a debt can be dissolved via bankruptcy for payments required to be made for a taking under the Constitution.
(Va. case)
They all know its coming, its a taking. Eventually these municipalities that are involved in this will be filing for bankruptcy, States can't file for bankruptcy.
The question that I wonder is if a debt can be dissolved via bankruptcy for payments required to be made for a taking under the Constitution.
(Va. case)
Posted on 8/8/20 at 12:15 pm to GeauxFightingTigers1
And CONgress is going to gift them ALL trillions of dollars too
Posted on 8/8/20 at 12:16 pm to stout
WIN THE ELECTION AT ALL COSTS.
WHATEVER IT TAKES.
We need this 2nd term
WHATEVER IT TAKES.
We need this 2nd term
This post was edited on 8/8/20 at 12:18 pm
Posted on 8/8/20 at 12:18 pm to PUB
quote:
And CONgress is going to gift them ALL trillions of dollars too
So is Trump, so what's the difference?
Posted on 8/8/20 at 12:18 pm to PUB
quote:
And CONgress is going to gift them ALL trillions of dollars too
If there is a huge devaluation, just compensation is not just a steady dollar amount.
All of this is going to end very poorly.
This post was edited on 8/8/20 at 12:20 pm
Posted on 8/8/20 at 12:20 pm to Covingtontiger77
(no message)
This post was edited on 8/8/20 at 12:41 pm
Posted on 8/8/20 at 12:21 pm to stout
quote:
Tons of people went into forbearance just because they could
On primary home they will just get modified but most are just adding to the back of the loan
Cant refi but dont think they will foreclose
Posted on 8/8/20 at 12:22 pm to stout
So how are banks and lending agencies coping with late payments of house notes? No doubt many people live paycheck to paycheck and if those checks stopped 3, 4, 5 months ago what are those people doing to make mortgage ends meet?
Posted on 8/8/20 at 12:24 pm to SDVTiger
quote:
but most are just adding to the back of the loan
That does not just happen. Its a last means resort that has to have special approval. Banks try to discourage it actually.
Posted on 8/8/20 at 12:26 pm to stout
But it's what they are doing under that law
Posted on 8/8/20 at 12:31 pm to SDVTiger
Only extreme cases. Most banks still want the balloon payment once you come out of forbearance as they are still paying on the money they borrowed to loan out.
Posted on 8/8/20 at 12:32 pm to stout
I know a guy who prior to all the shut downs was doing an internship, which only paid him gas money (a little less than $100) a month.
Since the shutdown his internship has been put on hold, and he has been making $600 a week sitting around doing nothing.
He lives with his parents, and has no incentive to go out and find a job
Since the shutdown his internship has been put on hold, and he has been making $600 a week sitting around doing nothing.
He lives with his parents, and has no incentive to go out and find a job
Posted on 8/8/20 at 12:33 pm to stout
Not this time around
They are modifying, adding to the end or allowing a payment plan
They are almost forced too
They are modifying, adding to the end or allowing a payment plan
They are almost forced too
Posted on 8/8/20 at 12:33 pm to Covingtontiger77
I don't know about all that. Adding to the debt just to reelect him and piss off liberals is irresponsible. He hasn't been that great of a president anyways (and that's besides the fact that he talks like a moron half the time).
Posted on 8/8/20 at 12:35 pm to stout
They are in a bubble in DC. I heard one congress critter say $600 a month is plenty for people to live off of. Most are stuck in the 1950's and are cognitively impaired.
The others like Graham who know better warned about paying people more to stay at home. I just saw that the UE booster will not be $600. They will make sure no one gets more to stay at home.
Evictions being halted should come with strict rules. Trump is for this because he was advised the shelters would then spread the rona virus.
Keep in mind not all mortgage companies offered forbearance where they tack 3 months on the end. Most made it clear you just get one big arse bill in 3 months. I think DC favors BOA and others...
I also think some mortgage banks took the money and then didn't offer what Congress thought.
Forbearance. Is documentation of a furlough because of covid enough? Many companies lost money during covid and are outright firing people and hiring others for much cheaper wages...
I just saw an article of a huge scam of the wrong people getting PPP monies.
It is all a mess and your point is correct never trust DC.
The others like Graham who know better warned about paying people more to stay at home. I just saw that the UE booster will not be $600. They will make sure no one gets more to stay at home.
Evictions being halted should come with strict rules. Trump is for this because he was advised the shelters would then spread the rona virus.
Keep in mind not all mortgage companies offered forbearance where they tack 3 months on the end. Most made it clear you just get one big arse bill in 3 months. I think DC favors BOA and others...
I also think some mortgage banks took the money and then didn't offer what Congress thought.
Forbearance. Is documentation of a furlough because of covid enough? Many companies lost money during covid and are outright firing people and hiring others for much cheaper wages...
I just saw an article of a huge scam of the wrong people getting PPP monies.
It is all a mess and your point is correct never trust DC.
Posted on 8/8/20 at 12:35 pm to SDVTiger
quote:
They are almost forced too
Yea HUD made it easier. It's still not what the banks prefer at all.
Posted on 8/8/20 at 12:36 pm to SDVTiger
quote:
Cant refi but dont think they will foreclose
The last thing banks want to do is foreclose. Who will they sell the houses to?
Posted on 8/8/20 at 12:40 pm to cajunangelle
quote:
Evictions being halted should come with strict rules. Trump is for this because he was advised the shelters would then spread the rona virus.
How does this work? Can a president dissolve contracts between two parties? I don’t see how that is legal
Posted on 8/8/20 at 12:40 pm to SDVTiger
quote:
They are modifying, adding to the end or allowing a payment plan
Is what I did for May, June and July, just had to make my normal escrow payment. P&I for the 3mo. was tacked on to end of mortgage. Regular payment started back this month.
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