Don't forget to pay your bills

[bmd1803]

GOVERNMENT STIMULUS CHECK

So here’s what’s up:
1. To Tenants: If the government says you don’t have to pay your rent and there’s a ban on evictions, you better do whatever you can to pay your rent. There will be major repercussions when evictions bans are lifted. Don’t think you’ll get a free ride out of this. PAY YOUR RENT! Your landlord has bills to pay too.

2. To Homeowners: If the government tells banks to stop mortgage payments, DO WHATEVER YOU CAN TO PAY YOUR MORTGAGE!. Some lenders are saying you don’t have to pay for 3 months but on the 4th month, all four payments are due in full. Do not take a chance and not pay. Major foreclosures will come from all this. The banks didn’t help homeowners in 2008-09 and in 2020, it’s still the same. Pay your mortgage.

3. If the utility company suspends payments, you.better. PAY ANY AMOUNT YOU CAN! They are like banks, they will want their money eventually and when all this clears up, you’ll owe a huge bill and still won’t have any utilities. Pay whatever you can.

4. If you get a government stimulus check, this check is to help pay your bills. That means you pay your rent, your mortgage, your utilities, your insurance, your car payment, y.o.u.r. b.i.l.l.s. This is not for frivolous spending.

5. The real problem is, many who will get the stimulus check....won’t pay bills then be crying and wailing saying
“They evicted me. They cut off my power, they repossessed my car...”

It's not a free for all, people think wisely!

 

[TimmyRules]

Good points!

Wonder how many will blow it instead of paying bills:think2:

 

[Albatross]

Sounds like a buying opportunity coming down the pipeline dbanana0-9

 

[Doug]

yep, it ain't free money, just a temporary reprieve !

There is such a thing known as a credit rating, you don't want your rating to be ultra -low, you'll never get a mortgage, or even a rental, or car loan, decent job, etc., if you go that route.

you might clear it with a bankruptcy, but it will take a decade to build it back up to sub-prime , iffy person

bmd1803 has this right !

 

[Seymour]

Everyone in the hood thinks they don't have to pay rent now - in Broward (Fort Lauderdale) the chief judge for the county courts instructed the sheriff's office to serve nothing related to eviction suits - and this is indefinitely - he did not say only for April

 

[Seymour]

Sounds like a buying opportunity coming down the pipeline dbanana0-9

It would have to be down the road - right now there just simply is are no transactions whatsoever

 

[Albatross]

It would have to be down the road - right now there just simply is are no transactions whatsoever

SF homes....I am sure your right. I did close on two A+ properties this week. We feel we bought them at 70% MV. These "land brokers" purchased these pieces with a national buyer LOI. They bailed and left these brokers holding the deal. They had a land bank, but it wasnt the intention to hold. Land bank capital decided to move it. We were fortunate to have an inside and made the deal. Closed in 10 days. The "brokers" probably lost their anticipated cut.....but who cares. Funny how many try to play the RE game with no skin to throw in.

 

[exploited17]

I hear the world is gonna end. Hookers and blow

 

[PatsFan1283]

Doubt anyone getting evicted for atleast 3 months, maybe 6

 

[StevieRay]

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[flashmo]

Good points!

Wonder how many will blow it instead of paying bills:think2:

Over/under is at 75%

 

[pathologist]

All the trash will be buying big screen TVs and leather couches and iPhone 11s

 

[Knightrofins]

If you are financing anything, make sure you speak to your lender if you cant pay. Most will be cool with it and will add it on the back end of the loan.

Regarding mortgages, i hear you can delay up to a year of mortgage payments but you need to check in with your lender 3 months at a time. If your mortgage is in escrow, then you still have to pay your property tax or insurance (or clear it with the proper authorities if u need to skip payments)

Regarding HOA, i WOULD 100% make those payments. HOA's are pains in the asses and they could kick you out of your home. Maybe not now, maybe not in a few months, but later on.

 

[StreetSmart2019]

Better pay bills, this virus pandemic will go thru June at least. Now I am reading which I don't believe as I don't believe anything I read that Chinas equipment they sent to the US is Virus contaminated and infected.

 

[bmd1803]

Hopefully, this is not the 3rd world war