Posted on 12/21/2020 12:36:04 PM PST by 11th_VA
Congress is making some money available for people who need help paying their rent, but they’re only extending an eviction moratorium by a month. And there’s no new help for people with mortgages...
But Congress only extended an eviction moratorium, saying people cannot be evicted from rentals, for another month. That matches California’s existing moratorium that’s already on the books.
The rent crisis is hitting minority communities particularly hard. About 46% of those not caught up with the rent in the state were Hispanic and 21% were black. About 20% were white and 13% were Asian.
...A previous stimulus bill Congress passed included protections for people with mortgage payments. It provided temporary protection from foreclosure through both a foreclosure moratorium and forbearance on mortgage payments.
The new stimulus bill does not include any additional protections for those who can’t pay their mortgages, and existing protections are set to expire on Dec. 31. However, individual government agencies such as Fannie Mae and Freddie Mac could extend those protections further without congressional approval.
(Excerpt) Read more at sacbee.com ...
Given a sizable number of California homeowners are Asian, this sound racist. /s (or maybe not)
You can bet this new plan will be a plus for the poor and free loaders and very little for the middle class. What else can you expect in a socialist banana republic.
“Is the price of homes about to come down ???? Supply and Demand theory would suggest that ...”
Record home sales this year. Homes out in rural areas where I live are selling first day listed usually with bidding wars.
People moving out of large cities to escape crime and covid..and be with their own kind if you catch my drift.
So the people who have invested a ton of money into their homes are not allowed to collect their rent from the deadbeats, and are now being foreclosed on!
it seems any responsibility toward landowners is completely off the table-JUST BIZARRE.
Thank God we managed to get a delinquent & from hell tenant out of our house back in May.
Could have been a total nightmare for us!
we are very leery of renting at all now...
Given a sizable number of California homeowners are Asian, this sound racist. /s (or maybe not)
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Mostly bought using dirty Communist Chinese money, or money Indians earned off the backs of unemployed Americans.
Eff em
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