EVICTION MORATORIUM EXTENDED YET AGAIN!

Youtube ^ | 8/1/21 | Jason Walter

[JoSixChip]

"The Centers for Disease Control and Prevention’s (CDC) eviction moratorium is in place until July 31st, but the Supreme Court’s ruling made clear that CDC cannot extend the moratorium past its current expiration date. In light of that decision, the Biden-Harris Administration is taking steps to protect renters at risk of eviction. Today, at the President’s request, the U.S. Department of Agriculture (USDA), U.S. Department of Housing and Urban Development (HUD), U.S. Department of Veterans Affairs (VA) and the Federal Housing Finance Agency (FHFA) have extended their foreclosure-related eviction moratoria until September 30, 2021."

[JoSixChip]

You knew this was coming.

[rarestia]

I’m at a loss how this is even remotely legal. I am so thankful I’m not a landlord.

[madprof98]

Investment property not such a good idea anymore, I guess.

[cgbg]

These are foreclosures—presumably does not affect rental properties and their individual tenants...

[cgbg]

Any investment involves weighing the reward vs the risk.

The risk of rental properties has exploded in the past year.

[JoSixChip]

No, if the property is financed by a government agency you cannot evict deadbeat tenants. At least that is my take.

[ZOOKER]

Let's say I owned rental property. Actually not owned, but mortgaged to the hilt as an investment for retirement income.
All my tenants quit paying rent, I can't evict them and I can't make the mortgage payment. I have no choice but to sell.
What do you suppose this property is worth, with potential buyers knowing it will generate ZERO income?

[cgbg]

Yeah—I think you are correct—but I don’t know what percent of rental properties are financed (or have mortgage insurance) from government agencies—half perhaps?

[cgbg]

Your only rational decision would be to turn the keys into the lender and walk away...

[dfwgator]

Meanwhile, companies like Black Rock will be able to go to distressed landlords and buy up the properties on the cheap.

Then one day, we’ll find out all housing is controlled by one entity, and most likely, the bosses will be based in Beijing.

[Mariner]

This doesn’t effect renters, with the exception of Section 8.

All the rest is foreclosure protection.

And Section 8 is paid by a government agency.

[mass55th]

"I’m at a loss how this is even remotely legal."

Obviously the Republicans don't care, so I'm going to ask the CDC to give me a big raise in my Social Security because of the virus.

[newfreep]

America is officially a lawless society.

Leftists: “Constitution? We don’t need no steenking Constitution.”

[Leaning Right]

> I can’t make the mortgage payment. <

And you can’t pay your property taxes. And you can’t pay to maintain the building. What a mess.

[dljordan]

“You knew this was coming.”

Because they’re planning on locking us down again.

[Sequoyah101]

Yup, told ya.

Why does this feel like confiscation without due process?

What next?

[oldbill]

The CDC apparently now has the power to make war, raise taxes, and every other power of the Constitution.

Wonder what Kavanaugh, Barrett, and Roberts think about just being told to pound sand by Biden.

[AbolishCSEU]

Exactly to plan. Get rid of mom and pop landlords then come after private property ownership altogether.

[dfwgator]

Never let a crisis go to waste.

[Fury]

Different situation.

Those agencies are responsible for guaranteeing the mortgages.

They can choose to pause foreclosure.