/news/ - News » Thread #588138

[16 / 1 / ?]

36KiB, 648x364, What-to-Do-When-Your-Mortgage-Payment-or-Rent-is-Late-During-a-Pandemic.jpg

Legislation To Cancel Rent, Mortgage Payments During Pandemic

Anonymous Mon 20 Apr 2020 18:58:43 No.588138 View View Reply Original Report

Quoted By: >>588140

Sounds like a good idea but we all know Congress with fuck around for months before getting to this and in the process, fuck over bazillions of Americans who will be out on the streets.

Also, there is no need for the government to pick up the check for EVERY American’s mortgage or rent, otherwise we’ll be paying for Jeff Bezos’ dozen mansions.

And I wouldn’t be surprised if there’s some kinda bullshit hidden forced buy-out clause in this bill, requiring landlords to sell their properties, which only guarantees the Reps won’t vote for this and we’re back to fucking over bazillions of Americans…

https://thehill.com/homenews/house/493558-omar-introduces-legislation-to-cancel-rent-mortgage-payments-during-pandemic
04/19/20

Omar introduces legislation to cancel rent, mortgage payments during pandemic

Rep. Ilhan Omar (D-Minn.) has introduced legislation to cancel rent and mortgage payments nationwide amid the coronavirus pandemic.

Omar’s bill would establish a relief fund for landlords and mortgage holders to cover losses from the canceled payments.

Under the proposal unveiled Friday, rent and mortgage payment cancellations would be available for Americans regardless of income. There also would be no debt accumulation for renters and homeowners as well as no negative impact on their credit ratings or rental histories.

cont.

Anonymous

Anonymous Mon 20 Apr 2020 18:59:25 No.588140 Report

Quoted By: >>588142

>>588138

The bill also seeks to create an optional fund to fully finance the purchase of private rental properties by nonprofits, public housing authorities, cooperatives, community land trusts, and state or local governments in an effort to increase the availability of affordable housing.

Omar’s bill proposes the moratorium on payments to last one calendar month after the end of the national emergency, which was declared in March. The bill also calls for the suspension to retroactively cover payments made in April.

Landlords or mortgage holders who take action against tenants or property owners would be subject to fines starting at $5,000 for first violations and up to $50,000 for third or subsequent violations.

“The coronavirus crisis is more than just a public health crisis—it’s an economic crisis,” Omar said in a statement.

“Congress has a responsibility to step in to stabilize both local communities and the housing market during this time of uncertainty and crisis. In 2008, we bailed out Wall Street. This time, it’s time to bail out the American people who are suffering,” she added.

The bill is co-sponsored by Democratic Reps. Alexandria Ocasio-Cortez (N.Y.), Rashida Tlaib (D-Mich.), Pramila Jayapal (Wash.), Mark Pocan (Wis.), Ayanna Pressley (Mass.), Veronica Escobar (Texas), Jesús García (Ill.) and Grace Meng (N.Y.).

END

Anonymous

Anonymous Mon 20 Apr 2020 19:08:42 No.588142 Report

Quoted By: >>588146 >>588183

>>588140
>The bill is co-sponsored by Democratic Reps. Alexandria Ocasio-Cortez (N.Y.), Rashida Tlaib (D-Mich.), Pramila Jayapal (Wash.), Mark Pocan (Wis.), Ayanna Pressley (Mass.), Veronica Escobar (Texas), Jesús García (Ill.) and Grace Meng (N.Y.).
Probably dead before committee, if they can't get a major Republican on board fast (and given AOC is on the bill, they won't).

Given all the fiscal easing they've done, it'd be a simple matter for the banks to suspend mortgages for a few months, which would free up landlords to at least reduce rents significantly (even if you'd probably have to force that on most). Couldn't maintain that for more than a few months without risking a major collapse though.

Anonymous

Anonymous Mon 20 Apr 2020 19:13:38 No.588146 Report

Quoted By: >>588161 >>588194

>>588142

How about the U.S. instead used that $3.8 BILLION we give Israel every year, to bail out American renters and mortgage holders?

But I’m guessing the clause about an “optional fund to fully finance the purchase of private rental properties by nonprofits, public housing authorities, cooperatives, community land trusts, and state or local governments in an effort to increase the availability of affordable housing.” is what will kill this otherwise sensible legislation.

Anonymous

Anonymous Mon 20 Apr 2020 19:49:21 No.588161 Report

Quoted By: >>588167

>>588146
>How about the U.S. instead used that $3.8 BILLION we give Israel every year, to bail out American renters and mortgage holders?
Given we've fiscal eased for ~8 trillion over the past three months, not really a drop in the bucket.

...and yeah, that government housing bit isn't helping either. Suspect this is one of those designed to fail so we wag our fingers at the phat kats bills.

Anonymous

Anonymous Mon 20 Apr 2020 20:02:07 No.588167 Report

Quoted By:

>>588161
>Suspect this is one of those designed to fail so we wag our fingers at the phat kats bills.

Yeah, that's what it looks like; "we wanted to help out average people but Orange Man Bad and the Evil Republicans literally hate Americans!"

Ignoring the (more than likely) poison pill included in the bill, forcing landlords to sell their properties if they take the bail-out money.

Anonymous

Anonymous Mon 20 Apr 2020 20:47:13 No.588183 Report

Quoted By: >>588188

>>588142
>Republicans would rather cause a massive homelessness crisis during the pandemic caused by Trump rather than work with someone they hate to save American lives.
This is why the system is truly broke and why it will never recover unless the Conservatism is wiped out.

Anonymous

Anonymous Mon 20 Apr 2020 21:02:05 No.588188 Report

Quoted By: >>588195 >>588198

>>588183

Again, I’ll bet my fucking house that fineprint for this legislation includes a clause _forcing_ landlords to sell their properties to the government if they take the bail-out money.

This is nothing but another scam by the Dems who know it won’t pass (because they engineered it that way) so they can use it to attack Trump.

It’s the DEMS who want people thrown out on the street, so they can turn around and blame Trump.

Anonymous

Anonymous Mon 20 Apr 2020 21:17:02 No.588194 Report

Quoted By: >>588237

>>588146
And how much were we giving the WHO? That could be put to use. As could the billions that the Pentagon manages to mysteriously "lose" every audit. These fuckers really need to reel in their spending, and I mean ALL OF THE TIME, not just because of what is going on now.

Anonymous

Anonymous Mon 20 Apr 2020 21:19:45 No.588195 Report

Quoted By: >>588237

>>588188
What are the conservatives suggesting instead?

Anonymous

Anonymous Mon 20 Apr 2020 21:27:19 No.588198 Report

Quoted By: >>588237

>>588188
Classic case of conservatives getting angry over things they just made up.

>It’s the DEMS who want people thrown out on the street, so they can turn around and blame Trump.
Despite all evidence to the contrary. Ignore the world you see, anon, only god emperor Trump has the truth.

Anonymous

Anonymous Mon 20 Apr 2020 22:27:57 No.588237 Report

Quoted By: >>588265

>>588194
> These fuckers really need to reel in their spending, and I mean ALL OF THE TIME, not just because of what is going on now.

Oh absolutely, but at least in this particular case, there is no reason why the government can’t help out Americans who are laid off or otherwise trying to make due on decreased wages by putting a freeze on rent and mortgages for X months until this covid thing blows over.

The Federal budget is TRILLIONS of dollars every year, so it’s not like we can’t afford it.

>>588195
> What are the conservatives suggesting instead?

Well, there’s the Trump Buxs and bailing out the 1%ers but that’s pretty much it…

But if not for the Dems including that clause about the government buying out properties, the Reps wouldn’t be able to justifiably oppose this bill, which would have wide spread support among American voters.

>>588198
> Despite all evidence to the contrary.

I’ll agree it’s speculation but there is in fact no “evidence to the contrary” and the inclusion of the clause about the government buying out landlords, is more than likely mandatory if they take the FedGov’s money.

Because there was no reason to include that clause but that's EXACTLY what the Dems would do to insure this bill never passes, giving them a weapon to attack Trump and the Reps, which is what they’re really interested in.

Anonymous

Anonymous Mon 20 Apr 2020 23:28:06 No.588265 Report

Quoted By: >>588288

>>588237
>Because there was no reason to include that clause but that's EXACTLY what the Dems would do to insure this bill never passes, giving them a weapon to attack Trump and the Reps, which is what they’re really interested in.
Well, given the bill authors and sponsors, it could also be naivete.

Cities are having trouble finding places for public housing, as the folks in the area always oppose it. If landlords can bail out and sell their property to the government, it would bypass that problem - and, well, local democracy - but people will never vote against their property values.

Kind of a dick move either way though.

Anonymous

Anonymous Tue 21 Apr 2020 00:34:18 No.588288 Report

Quoted By:

>>588265
> Well, given the bill authors and sponsors, it could also be naivete.

They’re not stupid, they know full well that the Reps will reject this bill if the clause about the government buying up properties (even if sold voluntarily) was included, so why include it?

Because they don’t give a fuck about the American people who would actually benefit from a rent/mortgage freeze and instead, simply wanted another fake news weapon to attack Trump and the Reps with.

Hell, Biden was still calling Trump a “racist” during the first week of March because he banned travel from China and other covid hot spots.

> If landlords can bail out and sell their property to the government

The landlords would be covered by this legislation, with the government picking up the check for rent until the covid thing blows over, thus there would be no reason for a landlord to sell his property.

BUT, if the legislation includes a clause _requiring_ the landlord to sell his property if he takes the bail-out money, (or face thousands in fines for refusing to take the money) then as you point out, local zoning regulations could be bypassed and the property can be acquired for “affordable housing” (i.e. moving poor Blacks, Hispanics and foreigners into White neighborhoods).

nathan

Mortgage or !??!!!?

nathan Tue 15 Dec 2020 01:34:59 No.588288,1 Report Delete

Quoted By:

Who knows, I see many opinions guys and mostly are based on very doubtful resources plus personal experience here is very few. I can see the biggest part from here on news or YouTube videos. I need a real deal, because at the moments after researches understand that mortgage is my best possibility to live happily in a big house full of rooms and kids running here - there. Furthermore, I have entry tomorrow at https://www.Bristolmoneyman.com , hopefully they will provide an awesome plan and I will be capable to move on with this question. Will leave a feedback later.

Anonymous

Anonymous Fri 22 Oct 2021 14:10:50 No.588288,2 Report Delete

Quoted By:

https://www.boutiquehomeplans.com/post/how-to-finance-your-new-home-construction-in-2028

Capcode	All Only User Posts Only Verified Posts Only Moderator Posts Only Manager Posts Only Admin Posts Only Developer Posts Only Founder Posts
Show Posts	All Only With Images Only Without Images Only Spoiler Images Only Non-Spoiler Images
Deleted Posts	All Only Deleted Posts Only Non-Deleted Posts
Ghost Posts	All Only Ghost Posts Only Non-Ghost Posts
Post Type	All Only Sticky Threads Only Opening Posts Only Reply Posts
Results	All Grouped By Threads
Order	Latest Posts First Oldest Posts First

On these archives

Your latest searches

Legislation To Cancel Rent, Mortgage Payments During Pandemic