The stimulus package aids renters in unprecedented ways such as moratoriums on evictions even if rent is not paid. But there is a void about what this means for rental home owners. These owners depend on timely rent payments in order to cover expenses such as property taxes, mortgages, insurance, HOA fees, repair and maintenance …
Landlords Left in the Lurch Without Rent Payments Read More »
The coronavirus shutdown has hit the real estate market hard with new listings plunging this year during what should be the peak season for home shopping. New home listings were down 27% nationwide in the first week of April compared to a year ago, with the cities of Detroit, Pittsburgh and New York most affected …
In the last year, Opportunity Zones have been the center of many conversations for those involved in commercial real estate. Opportunity Zones mark the latest way of helping investors save on taxes, while also aiding to advance the economic fabric of an underdeveloped community. The Opportunity Zone program was established in the Tax Cuts and Jobs Act of 2017. …
April 24, 2020 – More than 3.4 million American mortgage borrowers are now in forbearance—essentially hitting the pause button on their monthly payments for the foreseeable future. According to the latest data from financial data firm Black Knight, that’s up from 2.9 million one week ago. In total, 6.4% of all U.S. mortgage loans are …
Democrat Representative Ilhan Omar introduced a bill last week calling for the cancellation of rent and mortgage payments through the end of the coronavirus pandemic. The legislation would establish a fund for landlords and mortgage holders to cover losses from the canceled payments. That means that potential bank losses would be transferred to taxpayers. It …
On March 15, 2020, Dr Anthony Fauci told Jon Karl on ABC that the US could expect up to 21 million coronavirus hospitalizations and up to 1.7 million coronavirus deaths in the US. That was ONE MONTH AGO. Dr. Fauci admitted this week that he and Dr. Birx sat with President Trump last month and urged him …
Fauci’s Lockdown: 2.9-Million Americans Are Delinquent On Home Loans Read More »
The COVID-19 pandemic is expected to usher in a flood of litigation over force majeure (“acts of God) clauses in real estate contracts, and while each case will first examine the circumstances and language of the contract, lawyers say states will also differ in their interpretations. Force majeure, common in real estate contracts, excuses parties …
An “Avalanche” Of Force Majeure Lawsuits Expected Read More »
While real estate pros adapt in light of a global pandemic, a digital notary is helping to complete remote closings to keep sales on track. a company called Notarize predicts that it will process at least $100 billion in transactions on its platform this year. That is up from about $10 billion last year, the …
Digital notary helping to complete remote closings Read More »
The widespread misery spread by COVID-19 has left many homeowners scrambling to figure out how to pay their mortgages. Homeowners with government-backed loans—and even many without—are being offered up to 12 months of forbearance, doled out in 90-day chunks. But this temporary fix could result in another wave of foreclosures if additional assistance isn’t provided. …
Another Wave Of Foreclosures Means More Non-Performing Notes Read More »
With business closures and job losses due to the coronavirus outbreak, about 2 million borrowers so far have applied for mortgage forbearance programs. But homeowners should fully understand what forbearance means before entering into such an agreement with their lender, financial experts advise. Many homeowners who take forbearance options will be on the hook for …
Make sure your payors know that they may owe missed monthly payments in a lump sum Read More »
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