Rent moratorium question?

[bendog]

Ya they were bailed with 50 billon in funds for rent and 5 billion in utilities as well as forbearance. Basically allowing those payments to go to back end of the loan.

But I don't think the 50 billion was disbursed by the states.

 

[JohnDB]

Yeah, I suspect landlords are sorta similar to mortgage holders. I refinanced. I'd been avoiding it despite my higher interest rate because I didn't want to add years. But it worked out ok. I suspect landlords with mortgages can do the same, and pretty much fold in their uncollected back rents into their new principal. But the fed allocated money to take care of this, at least partially. And some states are just saying to hell with it, and letting the tenants get evicted. I agree that at some point this all has to end. And THERE ARE JOBs and no cost vaccinations. So people need to get back to work, like my family has done.

But I can't see the "good" in seeing people get evicted if there's federal money appropriated to let them stay in their apts and let landlords pay down their unpaid mortgages or refis. I guess that means renters get a better govt deal than I and other homeowners got, but I'm better with that than permanently expanding the child tax credits

Actually homeowners got the better deal than the renters. The renters get black marks on their credit that will not allow them to rent again. (Would you rent to someone who still owes back rent?)
It's not much better than an arson conviction for the renters....who are going to be homeless. But you still own your home... you still have equity in it. You will still make a profit when you sell your house years in the future.
Renters don't get any of those things.

 

[boedicca]

The Feds and states gave extra money to renters due to Covid so that many of them made more staying home than they did working, and also told them they didn't need to pay their rent with that money.

That worked out really well.

 

[evenflow1969]

But I don't think the 50 billion was disbursed by the states.

Well the wheels of government have been know to turn slowly. Some of it the state government fault some of it is lack of landlords filing appropriate paper work. They make shit like getting that shit pretty complicated. Lot of paper work involved then they tend to move the goal posts on ya when ya file. Many people just give the hell up on it. I worked on a project once where a developer built on a flood zone but hauled enough fill to get it out of the flood zone. My job was to deal with the paper work for fema to have it removed from the flood zone insurance program Developers spent over 150k on filing . Fema kept moving goal posts on them finally fema said get a soil compaction test on every lot and we will do it. First off that would have costed 1.5 mill and there was no reason to believe they would not move goal post again. Developers said fuck it they can pay flood insurance.

 

[Mikeoxenormous]

If the politicians intend to screw the landlords with a rent moratorium we need to screw the politicians with a salary and tax moratorium.

Better idea is to rebel against the establishment like we did back in 1776...

 

[danielpalos]

I would not have been using my stimulus checks to pay rent if there was a moritorium on eviction. Even now I wouldn't use my savings to pay back rent. Evict my ass, and I'll rent elswhere. Better yet, evict my ass and give me the shot, and I'll rent elsewhere with my new job income.

I think renters got a better deal with the stimulus than homeowners and even landlords who refinanced and folded in missed payments.

Not everyone thinks like you or has the same options as you.

 

[MinTrut]

The landlords weren't bailed out, were they? Guy's have mortgages. If they aren't bailed out, they're still on the hook for all the unpaid back rent. Congress approved like 50 billion dollars for states to parcel out. WTF? The Treasury under mUnchkin paid out billions to businesses that NEVER reopened.

If I'm a renter, I'm sure the back rent would be a bitch. But homeowners didn't get bailed out, did they? I know I kept paying my mortgage and helping my kid's rent even though our incomes took hits. The renters can't get a free lunch here. If there's no way for them to make up the back rent (and I suspect there is not) then the landlords have to get some help, if they haven't already.

Landlards who weren't paid are choke-slamming the tenants who kept them afloat for the last year and a half with unpayable rent increases.

So while your concern for their investment is admirable, I'm more worried about the vets, elderly, disabled, working poor, single mothers, nurses, teachers and so forth who will be made homeless by landlard avarice.

Jesus probably is too fyi.

 

[Desperado]

The moratorium was an unconstitutional overstep by the federal government and never should have happened. That aside, there are also far reaching consequences and ripple affects as a result of this type of interference that the government had no business weighing in on.

The lockdown was an unconstitutional overstep by the federal government and never should have happened.

 

[MinTrut]

Actually homeowners got the better deal than the renters. The renters get black marks on their credit that will not allow them to rent again. (Would you rent to someone who still owes back rent?)
It's not much better than an arson conviction for the renters....who are going to be homeless. But you still own your home... you still have equity in it. You will still make a profit when you sell your house years in the future.
Renters don't get any of those things.

^ Thread win.

 

[MinTrut]

The lockdown was an unconstitutional overstep by the federal government and never should have happened.

Are you saying the Democrats shouldn't have weaponized Covid and burned the country down for 2 years of power?

That's insurrection!!!

 

[Desperado]

Are you saying the Democrats shouldn't have weaponized Covid and burned the country down for 2 years of power?

That's insurrection!!!

That is exactly my thoughts on the situation

 

[22lcidw]

The bank will posses them long before the govt.

At some point the interest rates will have to rise. This will force foreclosures. This will affect housing and renting. Interest on the debt is high enough on a yearly basis. When higher interest rates are added that will balloon the deficit in a huge way. Unfortunately because of what the politicians have done over the years, there will be people who do not fare well. A lot of people who played by the rules were made poorer by the 2008 crisis. Now the government politicians who destroyed the nuclear families is going to give parents or parent money each month for each child.

 

[danielpalos]

The lockdown was an unconstitutional overstep by the federal government and never should have happened.

No, it wasn't.

This is a dramatic reversal of fortunes for a country once deemed the role model in handling the pandemic. Just a year ago, Malaysia celebrated as local transmissions reached zero for a few days, garnering praise from foreign experts, academics, and organisations such as the World Health Organization. The Malaysian government’s swift actions to implement a full-scale lockdown, invest in testing and medical facilities, and deploy proactive communication with the public resulted in fewer cases than in the rest of Southeast Asia.

Malaysia: From COVID role model to a mini-India

What Malaysia’s raging COVID-19 crisis tells us about failed leadership.

www.aljazeera.com

 

[Dont Taz Me Bro]

The lockdown was an unconstitutional overstep by the federal government and never should have happened.

There was no lockdown by the federal government.

 

[bendog]

There was no lockdown by the federal government.

not so fast.

 

[danielpalos]

I don't really give flying fuck, daniel.

But consider the facts. The renters who owe back rent, can just walk or be evicted and NEVER PAY THE BACK RENT. Try that if you have mortgage, which apparently you do not.

That happens anyway. Even restaurants are feeling that attitude. And, landlords can deduct losses from their taxable income.

 

[bendog]

Not everyone thinks like you or has the same options as you.

sorry for being snarky. Bad Day at Blackrock.

 

[Desperado]

There was no lockdown by the federal government.

Tell that to the people that were put out of work, or the small business that had to close because the government deemed them non-essential

 

[danielpalos]

Tell that to the people that were put out of work, or the small business that had to close because the government deemed them non-essential

A "management failure"? Capitalists should have invested in better masks.

 

[Care4all]

sorry for being snarky. Bad Day at Blackrock.

I'm not certain how the bailout works totally....

But I read an article of a landlord of 1 small apt complex with 22 renters, most are paying but about 30% were in the rears I believe...those that were making an effort, even if only $100 a month of the thousand a month of what they owed....She said she would keep... But she first set up space in the apt office for renters to come in and apply for the covid renters relief to help them with their applications....if the renter applies, she is not going to evict, even if it takes them months to get govt relief....

It seems like she thinks she will get that money, in the end??? I sure hope so!!!

I wish I knew how it worked?

Can the renter get the money, then skip on the landlord anyway and use the money for deposits on a new place? If the new place would take in someone who had been evicted? Seems loose as a goose, if that is the case?