Carlyn L
Active 3 weeks, 4 days agoForum Replies Created
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If the house has a tenant, the landlord may be able to get funds through an eviction prevention program, like “Biden’s American Rescue Plan,” or something already in existence.
If the house is vacant, that won’t happen.
So like most things, it depends upon the specific circumstances. If the house could easily be re-rented to an excellent tenant, that’s one thing. Otherwise, maybe a bailout program for tenants will be beneficial.
Gary’s report looks interesting too!
Now more than ever it is important to have houses near sources of stable income, like government/military personnel.
Even though this idea of living anywhere is a growing concept, odds are it won’t be too long before employers want employees in their offices again.
And with weakening enforcement of contracts like leases, it’s important to have lots of qualified tenants to choose from.
Here’s a good video by Brandon Green on dealing with tenants who can’t pay: https://www.youtube.com/watch?v=1CLa0UJCn3w
Also I’m sure you all have seen that Freddie, Fannie, and BOA are making it easier to defer mortgage payments.
I’m sure David Tilney will have really good ideas for us too!
I’m looking forward to the call. thanks for the reminder about Jack’s class.
The impacts will be huge.
Already, here in Maryland, title companies are warning of trouble with clearing title due to courthouses being closed, home inspectors are asking that buyers and realtors not to attend inspections, people are avoiding attending (and holding) open houses, sellers are concerned about having strangers walk through their houses.
Military moves have been delayed for 60 days.
People will have trouble making house payments as the economy shuts down.
New York City just issued a temporary moratorium on evictions.
https://www1.nyc.gov/office-of-the-mayor/news/143-20/mayor-de-blasio-provides-on-new-york-city-s-covid-19-responseIt seems to me that it’s most comfortable when you make the payments on the underlying. That way you know they are being made, or if there is an issue, you find out immediately
Whether eliminating PMI benefits you or them depends upon how you write the wrap. So you probably want to make an agreement about that.
Here’s an interesting ABC news video about a case in Boca Raton – http://abcnews.go.com/2020/video/adverse-possession-squatting-boca-raton-18945783 – it got attention because it was an expensive place and the neighbors were alarmed.
in this case, the property was bank owned, not what Jackie has been talking about.
I’m hearing more about people moving there… seems to be the latest rage..
http://www.internationalman.com/articles/peter-schiff-goes-to-puerto-rico
http://www.internationalman.com/articles/how-i-intend-to-survive-the-meltdown-of-america
