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No evictions

55dawg

Corn Pop
Gold Member
Aug 28, 2007
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Rest of this year. This per CDC to prevent spread of Covid. My property manager has checked with local courts and they confirm this is the new policy Not sure how I’m supposed to make mortgage payment on rental property if tenants choose not to pay. And property tax due December 20. .
 
Rest of this year. This per CDC to prevent spread of Covid. My property manager has checked with local courts and they confirm this is the new policy Not sure how I’m supposed to make mortgage payment on rental property if tenants choose not to pay. And property tax due December 20. .
Have you contracted your lender to ask for forbearance? Considering everything they have to be doing this for people.
 
Rest of this year. This per CDC to prevent spread of Covid. My property manager has checked with local courts and they confirm this is the new policy Not sure how I’m supposed to make mortgage payment on rental property if tenants choose not to pay. And property tax due December 20. .

That is very bad news for landlords, because of this I will never become a landlord.
 
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Just realized this is happening. Hope folks keep paying and it’s a non issue. Not sure what happens if everyone stops paying for 4 months.
I work for a large real estate development company that owns thousands of units throughout the country. Fortunately we have only seen a small drop off in collections. There has been a moratorium on evictions since March or April. Hopefully your renters continue to pay.
 
I work for a large real estate development company that owns thousands of units throughout the country. Fortunately we have only seen a small drop off in collections. There has been a moratorium on evictions since March or April. Hopefully your renters continue to pay.
Same. Our portfolio is doing very well. Take a look at the performance of sunbelt oriented REITs versus gateway cities. Polar opposite. NYC and San Fran really struggling.
 
Have you contracted your lender to ask for forbearance? Considering everything they have to be doing this for people.

Lenders have zero sympathy. All they care about is recouping the "donation of support $$$" that they were extorted out of by blm..........in return for not having their bank being labelled "racist."
 
The lenders aren’t very sympathetic but they are also very unlikely to foreclose as they don’t want a non performing property. The Federal, State and local governments won’t allow that. I’ve seen them try, the courts say, “ pound sand, Mr Bank”. Fortunately, the group I own properties with decided to buy only Sec 8 properties in a locale back n 2010 to 2012 that was very good to us and we’ve been very good to our tenants. That locale has even made up for part of the shortfall the tenants couldn’t pay and the community bank has been very flexible. And, we all agreed to never take a distribution from the LLC except for an emergency. Store of cash with some invested n SPDRs.
 
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Rest of this year. This per CDC to prevent spread of Covid. My property manager has checked with local courts and they confirm this is the new policy Not sure how I’m supposed to make mortgage payment on rental property if tenants choose not to pay. And property tax due December 20. .

All landlords are billionaires, come on.

We have a wealthy side of the family, long story short. My mothers uncle and his brothers grew up with Tip O'Neal. Skip to today where the third generation is managing 100s of properties, car washes, dry cleaners, nursing homes, EACH. They will be pissed.
 
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All landlords are billionaires, come on.

We have a wealthy side of the family, long story short. My mothers uncle and his brothers grew up with Tip O'Neal. Skip to today where the third generation is managing 100s of properties, car washes, dry cleaners, nursing homes, EACH. They will be pissed.
It has been in effect for almost 6 months. It expired for a couple of weeks but got renewed ultimately.
 
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This will all end up with the Fed bailing out major banks and lending companies. Or, it will end with a major housing bubble that will pop.
 
While it doesn't make the short term any easier on landlords , the moratorium defers the rent so they will still have to pay it. Same as the payroll tax cut. I am Trump supporter but these, especially the pay roll tax deferment could be bad for economy come tax time when people don't get their re funds and in some cases have to pay. Trump says he is going to forgive all that tax if he wins but he simply doesn't have the authority.
 
While it doesn't make the short term any easier on landlords , the moratorium defers the rent so they will still have to pay it. Same as the payroll tax cut. I am Trump supporter but these, especially the pay roll tax deferment could be bad for economy come tax time when people don't get their re funds and in some cases have to pay. Trump says he is going to forgive all that tax if he wins but he simply doesn't have the authority.
It will take a month or two to get them out after Jan1. They could owe $6000 or more by then. They can move for half that. This is a socialist overreach that disappoints me in Trump.
 
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Relax............pretty sure Biden and Kneepads will have the solution on Jan 20th, 2020.
 
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