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re: What are the negatives of letting people postpone 2 months worth of mortgage payments?
Posted on 3/21/20 at 9:53 am to ForeverGator
Posted on 3/21/20 at 9:53 am to ForeverGator
quote:
So it would help no one to suspend either one, just kicking the can down the road
Kicking the can is what we need in a time like this...
nothing about this is expected or normal...
0
Posted on 3/21/20 at 9:56 am to ApexTiger
I don’t know how the banks or whoever is servicing the loan pays the bond holders.
Posted on 3/21/20 at 9:56 am to cave canem
quote:
Reading through this thread makes me wonder what happened to all the small government conservatives on this board, simply dangle a few freebies in front of them and they line up just like those they were very recently wailing about.
There are provisions in the constitution that cover this sort of happening:
"We the People of the United States, in Order to form a more perfect Union, establish Justice,insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of ...
Posted on 3/21/20 at 9:58 am to Turbeauxdog
quote:
I don’t know how the banks or whoever is servicing the loan pays the bond holders.
no one is getting paid right now
that's not 100% true but you understand the point here
Posted on 3/21/20 at 10:01 am to ApexTiger
Nothing would happen
All the banks know the drill after 2008
All the banks know the drill after 2008
Posted on 3/21/20 at 10:07 am to UpToPar
quote:
hat they should do is suspend payments for two months but offer to those who wish to continue to pay that 100% of their payment go towards the principal.
This would be my request as well.
To the OP the 2 sides of the coin would be you now put a cash flow burden on the companies holding the mortgages. The only possibility is you could drastically increase your interest because there will be some companies that will have the loans continue to accrue interest during this time. Which also means it could take longer than 2 payments to pay off the deferred 2 months
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