I actually agree with Idiot Omar's Idea, (sort of) to delay mortgage payments.

[Pete7469]

Coronavirus: Rep. Ilhan Omar proposes cancellation of rent, mortgage payments through pandemic

Rep. Ilhan Omar has introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic is over.

www.whio.com

Rep. Ilhan Omar, D-Minnesota, introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic has ended.

As far as home mortgages go, these can be bumped up and the full payment can still be made. Banks will still get the money in the end. Rent is a little different. A regular guy with a couple houses that he rents out can't just sacrifice the money so it's not just a one size fits all solution. He may be paying mortgages on those properties, as well as utilities.

A fund administered by the Department of Housing and Urban Development would pay landlords and mortgage lenders for the rent and mortgage payments. Landlords and lenders would have to agree to a number of fair and inclusive lending terms for a period of five years, including:

• Yearly reporting of detailed lending data delineated by race, ethnicity, zip code, age, credit score, interest rates and other loan pricing features.
• Lenders submitting yearly detailed data on their office locations, outreach practices and their referral systems.
• If the conditions are violated, the federal government can seek to recoup the funding.

They want to administer another level of bureaucracy that will last for years.

Are we going to do this for next year's flu season? Most of us know this whole thing was complete bullshit anyway.


.

 

[MindWars]

LOL---- that way when they lift it you can pay double if not triple. They won't tell you what that microsized print says.

 

[justoffal]

Coronavirus: Rep. Ilhan Omar proposes cancellation of rent, mortgage payments through pandemic

Rep. Ilhan Omar has introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic is over.

www.whio.com

Rep. Ilhan Omar, D-Minnesota, introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic has ended.

As far as home mortgages go, these can be bumped up and the full payment can still be made. Banks will still get the money in the end. Rent is a little different. A regular guy with a couple houses that he rents out can't just sacrifice the money so it's not just a one size fits all solution. He may be paying mortgages on those properties, as well as utilities.

A fund administered by the Department of Housing and Urban Development would pay landlords and mortgage lenders for the rent and mortgage payments. Landlords and lenders would have to agree to a number of fair and inclusive lending terms for a period of five years, including:

• Yearly reporting of detailed lending data delineated by race, ethnicity, zip code, age, credit score, interest rates and other loan pricing features.
• Lenders submitting yearly detailed data on their office locations, outreach practices and their referral systems.
• If the conditions are violated, the federal government can seek to recoup the funding.

They want to administer another level of bureaucracy that will last for years.

Are we going to do this for next year's flu season? Most of us know this whole thing was complete bullshit anyway.


.

This is Russian collusion 3.0
Jo

 

[MarathonMike]

Encouraging mortgage and rent delinquency is playing with dynamite. We have a very recent example of what happens when you have widespread mortgage defaults. The housing market is one of the pillars of our economy. And this would be potentially worse than 2008 since the pandemic has already decimated the travel and dining industries.

 

[justoffal]

LOL---- that way when they lift it you can pay double if not triple. They won't tell you what that microsized print says.

Yeah the only way it will work is if you cancel it forever .... Not to be paid later...
Just canceled.... Then three months hence you can restart.

Jo

 

[martybegan]

Coronavirus: Rep. Ilhan Omar proposes cancellation of rent, mortgage payments through pandemic

Rep. Ilhan Omar has introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic is over.

www.whio.com

Rep. Ilhan Omar, D-Minnesota, introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic has ended.

As far as home mortgages go, these can be bumped up and the full payment can still be made. Banks will still get the money in the end. Rent is a little different. A regular guy with a couple houses that he rents out can't just sacrifice the money so it's not just a one size fits all solution. He may be paying mortgages on those properties, as well as utilities.

A fund administered by the Department of Housing and Urban Development would pay landlords and mortgage lenders for the rent and mortgage payments. Landlords and lenders would have to agree to a number of fair and inclusive lending terms for a period of five years, including:

• Yearly reporting of detailed lending data delineated by race, ethnicity, zip code, age, credit score, interest rates and other loan pricing features.
• Lenders submitting yearly detailed data on their office locations, outreach practices and their referral systems.
• If the conditions are violated, the federal government can seek to recoup the funding.

They want to administer another level of bureaucracy that will last for years.

Are we going to do this for next year's flu season? Most of us know this whole thing was complete bullshit anyway.


.

when they use a word like "cancellation" they are implying not making the payments up when things get back to normal.

Will government cancel the property owner's taxes in the case of rentals?

 

[MindWars]

LOL---- that way when they lift it you can pay double if not triple. They won't tell you what that microsized print says.

Yeah the only way it will work is if you cancel it forever .... Not to be paid later...
Just canceled.... Then three months hence you can restart.

Jo

Yeah they tell ppl that for student loans to ------those trusty little student loans that get forebarenced all the time and for yrs.. lol

 

[Gdjjr]

if they "cancel" mortgages will the banks give back the stimulus money?

 

[Rocko]

if they "cancel" mortgages will the banks give back the stimulus money?

works for me

 

[justoffal]

Coronavirus: Rep. Ilhan Omar proposes cancellation of rent, mortgage payments through pandemic

Rep. Ilhan Omar has introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic is over.

www.whio.com

Rep. Ilhan Omar, D-Minnesota, introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic has ended.

As far as home mortgages go, these can be bumped up and the full payment can still be made. Banks will still get the money in the end. Rent is a little different. A regular guy with a couple houses that he rents out can't just sacrifice the money so it's not just a one size fits all solution. He may be paying mortgages on those properties, as well as utilities.

A fund administered by the Department of Housing and Urban Development would pay landlords and mortgage lenders for the rent and mortgage payments. Landlords and lenders would have to agree to a number of fair and inclusive lending terms for a period of five years, including:

• Yearly reporting of detailed lending data delineated by race, ethnicity, zip code, age, credit score, interest rates and other loan pricing features.
• Lenders submitting yearly detailed data on their office locations, outreach practices and their referral systems.
• If the conditions are violated, the federal government can seek to recoup the funding.

They want to administer another level of bureaucracy that will last for years.

Are we going to do this for next year's flu season? Most of us know this whole thing was complete bullshit anyway.


.

when they use a word like "cancellation" they are implying not making the payments up when things get back to normal.

Will government cancel the property owner's taxes in the case of rentals?

Property taxes pay the police and fire departments..... They also pay municipal pensions.

Jo

 

[martybegan]

Coronavirus: Rep. Ilhan Omar proposes cancellation of rent, mortgage payments through pandemic

Rep. Ilhan Omar has introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic is over.

www.whio.com

Rep. Ilhan Omar, D-Minnesota, introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic has ended.

As far as home mortgages go, these can be bumped up and the full payment can still be made. Banks will still get the money in the end. Rent is a little different. A regular guy with a couple houses that he rents out can't just sacrifice the money so it's not just a one size fits all solution. He may be paying mortgages on those properties, as well as utilities.

A fund administered by the Department of Housing and Urban Development would pay landlords and mortgage lenders for the rent and mortgage payments. Landlords and lenders would have to agree to a number of fair and inclusive lending terms for a period of five years, including:

• Yearly reporting of detailed lending data delineated by race, ethnicity, zip code, age, credit score, interest rates and other loan pricing features.
• Lenders submitting yearly detailed data on their office locations, outreach practices and their referral systems.
• If the conditions are violated, the federal government can seek to recoup the funding.

They want to administer another level of bureaucracy that will last for years.

Are we going to do this for next year's flu season? Most of us know this whole thing was complete bullshit anyway.


.

when they use a word like "cancellation" they are implying not making the payments up when things get back to normal.

Will government cancel the property owner's taxes in the case of rentals?

Property taxes pay the police and fire departments..... They also pay municipal pensions.

Jo

But why is it fair to ask property owners to take the hit?

And sure, the law says the government will pay the rents/mortgage, but includes the property owners/banks to follow some typical SJW type rules.

 

[Supposn]

Coronavirus: Rep. Ilhan Omar proposes cancellation of rent, mortgage payments through pandemic

Rep. Ilhan Omar has introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic is over.

www.whio.com

Rep. Ilhan Omar, D-Minnesota, introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic has ended.

…

Pete7469, a good portion of your mortgage payments pay down accrued interest on the money you borrowed, (i.e. your outstanding debt). For a proposal that may be of greater net benefit to our nation’s commercial, non-profit, and charitable enterprises, and consumers, and while being lesser than Congress women Ilhan Omar's proposal's combined with what seems our federal Small Business Administration may soon begin to enact, would in total consequentially increase of our national debt, consider this idea from the Economics forum of our U.S. Message Board.
Respectfully, Supposn

Federal Small Business Administration is granting, rather than lending up to$10,000 to each favored enterprise?
Extracted from: Economic Injury Disaster Loan Emergency Advance : “… Overview
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid. … “.

If I correctly understand a “loan advance will not have to be repaid.”, it’s not up to a $10,000 advance of a loan, but rather a grant or a gift of the first $10,000 of the entire loan I suppose that to be greatly less financially and economically feasible than federal subsidizing of bank’s loans’ interest rates.

Due to the corona virus pandemic, I advocate that the interest rates of lenders’ outstanding loan be subsidized, and the subsidy should cease on January 1, 2024.
If you consider 2024 as extending the subsidy too far, reconsider the extent of financial displacement that will be consequential to this pandemic.

Amounts of outstanding loans eligible for this federal interest rate subsidy, should "capped" per borrower. The "cap" should take in account the entire outstanding debts of individual persons’ or enterprises, or partnerships, or corporations, or for any associations of such individual persons or enterprises that are beneficiaries of these federal interest rates' subsidies.

Amounts of a loans’ current annual rate of federal subsidy should on a sliding scale, be dependent upon the then current out-standing amounts of the loans, greater rates of subsidy for lesser outstanding amounts, Lesser rates of subsidy for greater outstanding amounts. ...

 

[OKTexas]

Coronavirus: Rep. Ilhan Omar proposes cancellation of rent, mortgage payments through pandemic

Rep. Ilhan Omar has introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic is over.

www.whio.com

Rep. Ilhan Omar, D-Minnesota, introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic has ended.

As far as home mortgages go, these can be bumped up and the full payment can still be made. Banks will still get the money in the end. Rent is a little different. A regular guy with a couple houses that he rents out can't just sacrifice the money so it's not just a one size fits all solution. He may be paying mortgages on those properties, as well as utilities.

A fund administered by the Department of Housing and Urban Development would pay landlords and mortgage lenders for the rent and mortgage payments. Landlords and lenders would have to agree to a number of fair and inclusive lending terms for a period of five years, including:

• Yearly reporting of detailed lending data delineated by race, ethnicity, zip code, age, credit score, interest rates and other loan pricing features.
• Lenders submitting yearly detailed data on their office locations, outreach practices and their referral systems.
• If the conditions are violated, the federal government can seek to recoup the funding.

They want to administer another level of bureaucracy that will last for years.

Are we going to do this for next year's flu season? Most of us know this whole thing was complete bullshit anyway.


.

when they use a word like "cancellation" they are implying not making the payments up when things get back to normal.

Will government cancel the property owner's taxes in the case of rentals?

No she wants the government to make the payments with many strings attached. People with federally insured mortgages can already defer payments, they'll be added to the end of the loan with no interest. Screw'em all, I'll make my own mortgage payments on time.

.

 

[martybegan]

Coronavirus: Rep. Ilhan Omar proposes cancellation of rent, mortgage payments through pandemic

Rep. Ilhan Omar has introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic is over.

www.whio.com

Rep. Ilhan Omar, D-Minnesota, introduced a bill in the U.S. House calling for a nationwide cancellation of rent and mortgage payments until the coronavirus pandemic has ended.

As far as home mortgages go, these can be bumped up and the full payment can still be made. Banks will still get the money in the end. Rent is a little different. A regular guy with a couple houses that he rents out can't just sacrifice the money so it's not just a one size fits all solution. He may be paying mortgages on those properties, as well as utilities.

A fund administered by the Department of Housing and Urban Development would pay landlords and mortgage lenders for the rent and mortgage payments. Landlords and lenders would have to agree to a number of fair and inclusive lending terms for a period of five years, including:

• Yearly reporting of detailed lending data delineated by race, ethnicity, zip code, age, credit score, interest rates and other loan pricing features.
• Lenders submitting yearly detailed data on their office locations, outreach practices and their referral systems.
• If the conditions are violated, the federal government can seek to recoup the funding.

They want to administer another level of bureaucracy that will last for years.

Are we going to do this for next year's flu season? Most of us know this whole thing was complete bullshit anyway.


.

when they use a word like "cancellation" they are implying not making the payments up when things get back to normal.

Will government cancel the property owner's taxes in the case of rentals?

No she wants the government to make the payments with many strings attached. People with federally insured mortgages can already defer payments, they'll be added to the end of the loan with no interest. Screw'em all, I'll make my own mortgage payments on time.

.

I did read her conditions. They were standard SJW tripe.