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 »
JP Morgan Chase, the nation’s largest lender by assets, announced that the majority of new customers applying for a mortgage will need a minimum credit score of 700 and a down payment of at least 20% of the home’s value. Chase said it was also motivated to tighten its lending standards in response to the …
Largest Lender Now Requires 20% Down, 700 Minimum Score Read More »
“I buy real estate. It’s better now than when Obama was in office. They don’t teach you in school about buying property. They teach you how to become somebody’s property.” “I will not be told who I’m gonna vote on because of my color.” https://www.breitbart.com/politics/2020/04/15/kanye-west-goes-all-in-for-trump-i-wont-be-told-who-to-vote-for-because-of-my-skin-color/
The force majeure provision—or the “Act of God” clause—allows a person or business to get out of a contract — including a mortgage — due to an unpredictable “superior force.” Some consumers are wondering if a global pandemic qualifies for that. The term refers to a “force outside the control of a party,” and a …
What Is A Force Majeure Clause — And Why You Should Care Read More »
About 2 million homeowners are skipping their monthly mortgage payments, according to industry data released on April 13The $2 trillion stimulus package passed by Congress last month allows homeowners who face hardship from the pandemic to request forbearance from the companies that service their mortgages, meaning they can suspend payments without penalty for as long …
Here comes a wave of non-performing note opportunities Read More »
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