3,345,091
Unlikely anything will be done unless they are somehow required to help people. I find it "interesting" that tenants cannot be evicted for non-payment of rent YET the owner/mortgage holder is still required to make payment.
This in NO WAY suggests I believe people should be evicted if/when they cannot pay rent due to loss of job/income from COVID-19. Many people need help. Where is the help for people who cannot pay their mortgage for the same reason?
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Lyn Sims
Schaumburg, IL
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Debe Maxwell, CRS
Charlotte, NC
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John Pusa
Glendale, CA
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Patricia Feager, MBA, ...
Flower Mound, TX
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
7,836,431
Watch for the announcements.
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Debe Maxwell, CRS
Charlotte, NC
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John Pusa
Glendale, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
1,196,798
I'd be surprised if they did
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Debe Maxwell, CRS
Charlotte, NC
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John Pusa
Glendale, CA
-
Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
378,517
I think it needs to depend on the situation. Most lenders are working with people regardless of who backs the mortgage.
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Debe Maxwell, CRS
Charlotte, NC
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John Pusa
Glendale, CA
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Jerrill Ewing
Eatonton, GA
1,543,833
I'm not wasting any time guessing the future with all the great NAR, CAR, SDAR and Buffini & Company info reporting facts, figures and helpful tips in a play by play day by day.
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Debe Maxwell, CRS
Charlotte, NC
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John Pusa
Glendale, CA
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Bob "RealMan" Timm
Minot, ND
2,781,173
Something is afoot and many routines, rules, regulations and procedures are being and will be.... re-written...Whatever takes place will help
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Debe Maxwell, CRS
Charlotte, NC
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John Pusa
Glendale, CA
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Bob "RealMan" Timm
Minot, ND
2,390,630
Interesting thought Michael J. Perry .
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Debe Maxwell, CRS
Charlotte, NC
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John Pusa
Glendale, CA
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Doug Dawes
Topsfield, MA
417,221
That would require a new promissory note, and neg am is not allowed under today's laws for residential owner occupied, no.
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Debe Maxwell, CRS
Charlotte, NC
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John Pusa
Glendale, CA
5,230,130
763,883
No, I just see balance being added and loan timeline being extended.
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Debe Maxwell, CRS
Charlotte, NC
4,160,899
Michael J. Perry most likely they will not incorporate negative amortization.
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Debe Maxwell, CRS
Charlotte, NC
155,337
I would hope not. That type of lending contributed to the crash of 2008. I was in lending at the time (2003 - 2008) and those were being pushed hard.
634,531
5,217,017
225,526
No I don't and I hope neg am will never come back. Mortgages are supposed to be paid back no matter what the situations are. If you can't pay it back, put it on the market and sell. Neg am will only put you in a worse situation than you are today. Sell now and when you are ready for ownership, buy again and start over
3,416,038
I hope they stick them to the rear of the loan. It is the easiest solution but easy is not easy with banks and or the govt
5,049,477
I'd be surprised bt I am no mortgage expert. Who knows what will happen? I just had a Fannie Mae laon appraisal waived! A first!!