Suspend Mortgage and Rent until we can work!

Yes, then all the mortgage banks/brokerages will get bailed out and the state will own most of the property. I'm sure that will turn out just fine.

I see an issue with suspending rent payments. A lot of times, the landlord is a regular guy who had some extra property he couldn't afford on his own, and rents it out. If he is stiffed for the rent, then a regular guy is getting hosed. I know a few here have rental property.

originally posted by: DBCowboy
a reply to: jrod

The problem is; your asking government to solve a problem that government caused.

And that is why the government should provide a remedy.

I'm normally 100% against welfare/handouts, but since they caused the problem, I can see an argument for them providing a remedy - and I can also see room for an argument for a special one-time tax on all stock market gains, whether personal, or to an artificial entity, to pay for it.

If government hadn't acted so dumbassery in the first place, you'd be making sloe-gin rickey's for the divorced lady crowd tonight.

Yeppers...

I'm worried about what may happen if they try to actually enforce some kind of quarantine. These current 'lockdowns' are not such that they are going to be arresting people for leaving their homes, or having road-blocks or anything - at least I don't think so. If they do that, it will get ugly.

a reply to: jrod
I feel your pain. Summer is around the corner and tourism drops significantly during that time. Are the cruise ships still docking? People still doing the jet ski and reef trips?
During summer the folks from Europe would keep our butts alive in the keys, this is going to a bad year. Ohh I knew Tony when he was alive.
Good luck you all are going to need it.

a reply to: network dude

If his tennants are out of work, how are they suppose to pay?

Again this is why suspending mortgages is crucial.

As I said before, if nothing is done by the 1st, there will be serious consequences.

a reply to: 38181

All charter boats have been ordered to stop. All hotels will be shut down Sunday(22nd of March) and there is talk of only letting residents on the island chain via check point in Key Largo starting Sunday also.

Key West has come to a grinding halt.

a reply to: silo13

Well, I have no source of income either...

What part of all businesses being shut down don't you understand?

As I wrote before in several other posts, this is why suspending mortgages and rent together is the only solution.

Maybe we should just have a worldwide year of jubilee..
No more mortgages, student loans, or any other debts to worry about. You owe on your house still, congrats, you own it now. Same for businesses and governments, even banks except maybe for the peoples bank accounts.
Most would probably make out since most, if the books were balanced out and assets values determined, would find that their debts far outweigh their values. Wipe the slate clean, start over.

If I can get my mortgage waved for two months and 1200 bucks per month x2 I can buy an extra 36,000 rounds of ammo.

To be serious we do not want what happened under Obama with the housing crisis..

originally posted by: DBCowboy
a reply to: ChaoticOrder

I'm not blaming the virus on Trump, that I'll blame on the Chinese and democrats who wanted the flights to continue.

What I will blame is the reaction.

What I will say is that is was a lose-lose for Trump.

In this situation, he was screwed regardless.

It was his Kobayashi Maru.

So, if Trump ends up beating it, Trump is Kirk, right ?


KIRK-SPOCK 2020 !!!!!

originally posted by: jrod

Well, I have no source of income either...

What part of all businesses being shut down don't you understand?

As I wrote before in several other posts, this is why suspending mortgages and rent together is the only solution.

So mortgages are easier as in your 30 year loan is extended by two months as you get two month of no payment. Rent is trickier as in you can not just add two months to the end. Who pays the guy who owns your building, does he just eat it while he pays the bills too? So the Goverment would need to support 42 million rentals at about 120 billion for two months of paying rent, its doable.

a reply to: Xtrozero

How do you expect people who lost their income to pay rent or mortgage?

originally posted by: jrod

How do you expect people who lost their income to pay rent or mortgage?

Isn't that what I said in the post you are replying too?

a reply to: Xtrozero

But so far they haven't.....

Durring Irma most households got around $2000, some a little more.

If/when we get a relief check, actually paying for rent will be another problem because the bank lobby is closed and my SO is not setup to do the online transfer. There is also the issue of Bank of America's 3 day hold on all check. Needless to say, I'm glad I bank with a credit union. Even before all of this dealing with BOA has been a headache.

a reply to: network dude

I completely understand an agree.

But also have to say this: It almost feels like this never should of happened to begin with.
I'm all for people making money an being capitalists, but not on the backs of others trying to keep from dying from the elements.

It all boils down to the basic fact that, we probably, shouldn't be treating housing like commodities.

It's a human right, an thus shouldn't be allowed to be handled like such, I don't know the answer, but I also know the current solution, isn't a positive one for humanity.

originally posted by: jrod

But so far they haven't.....

Durring Irma most households got around $2000, some a little more.

If/when we get a relief check, actually paying for rent will be another problem because the bank lobby is closed and my SO is not setup to do the online transfer. There is also the issue of Bank of America's 3 day hold on all check. Needless to say, I'm glad I bank with a credit union. Even before all of this dealing with BOA has been a headache.

Did you lose your job? What did you do for work?

originally posted by: Xtrozero

originally posted by: jrod

But so far they haven't.....

Durring Irma most households got around $2000, some a little more.

If/when we get a relief check, actually paying for rent will be another problem because the bank lobby is closed and my SO is not setup to do the online transfer. There is also the issue of Bank of America's 3 day hold on all check. Needless to say, I'm glad I bank with a credit union. Even before all of this dealing with BOA has been a headache.

Did you lose your job? What did you do for work?

I know so many people that have now lost their jobs, it's carnage out there....

originally posted by: Xtrozero

originally posted by: jrod

Well, I have no source of income either...

What part of all businesses being shut down don't you understand?

As I wrote before in several other posts, this is why suspending mortgages and rent together is the only solution.

So mortgages are easier as in your 30 year loan is extended by two months as you get two month of no payment. Rent is trickier as in you can not just add two months to the end. Who pays the guy who owns your building, does he just eat it while he pays the bills too? So the Goverment would need to support 42 million rentals at about 120 billion for two months of paying rent, its doable.

The landlord wouldn't have to pay their mortgage. The landlord could then apply for a subsidy to cover his profit.

The mortgage holder could receive some type of aid or tax credit that could be spread over 10 years.

The people who work and own the service industry should not be the ones to bear the most and the immediate effects of this order. They didn't cause it and most importantly are the ones less likely to be able to handle immediate losses. Mortgage holders are the ones most likely to be able to handle short-term paper losses.

Banks in the UK have started offering 3 month payment holidays for mortgages.
It makes sense.

Since this consumer relief package needs to have 60 votes in the Senate to pass, they are running into problems with Democrats and Republicans disagreeing on how much money to spend and where to spend it.

More information that is current.

thehill.com...