Tucked away in the $2 trillion stimulus bill passed by Congress a week ago is a tax law change that will benefit commercial property owners and some tenants well after the coronavirus pandemic runs its course. The change, on page 211 of the 883-page Coronavirus Aid, Relief and Economic Security Act, expands the tax deduction for many …

The CARES Act Fixed A ‘Typo’ In 2017 Tax Law, Resulting In A Big Win For Property Owners Read More »

Sometime this year, we taxpayers will receive another economic stimulus. It is indeed a very exciting program, and I’ll explain it by using a Q&A format: Q: What is an Economic Stimulus? A: It is money that the federal government will send to taxpayers. Q: Where will the government get this money? A: From taxpayers. Q: Is …

The Economic Stimulus Explained Read More »

Indiana Governor Eric Holcomb has signed an executive order putting a block on evictions and foreclosures. The executive order cites layoffs and loss of work income.The order does not give an end date, saying it will be in place until the state of emergency has been lifted. It says the order does not relieve people …

Indiana Governor Stops Foreclosures and Evictions Read More »

Applications for m0rtgages to purchase homes were down 24 percent in the last week of March compared with a year earlier, reports the Mortgage Bankers Association seasonally adjusted index. Compared with a week earlier, applications were down 11 percent. There are several factors driving down purchase mortgage applications. The “stay at home” orders in many …

Mortgage Applications Crash 24 Percent Annually Read More »

State Sen. Michael Gianaris, who represents western Queens, has proposed a bill that would offer 90 days of rent relief for both residential tenants and small businesses that have lost income or been forced to close because of state-ordered restrictions issued in response to the coronavirus outbreak. The rent would be completely waived rather than deferred. …

Will New York Cancel Rents and Commercial Mortgage Payments? Read More »

We have some more guidance on the SBA loans since President Trump signed it into law last night.  You can apply for a low interest economic injury loan for up to $2,000,000 on sba.gov. However, what was passed yesterday is a different type of loan that is aimed at small businesses and seeing that they …

SBA Loans For Virus-affected Small Businesses Read More »

The Nebraska Supreme Court said Monday that it does not have the power to halt evictions, despite calls from legal and community groups to give renters a break due to the current coronavirus outbreak. Eviction hearings are governed by state law, not the state’s highest court, the court said in a statement. Now is not the time …

Nebraska court says it doesn’t have authority to halt evictions during coronavirus outbreak Read More »

As the novel coronavirus hammers the global economy, lawmakers and housing advocates are calling for a national moratorium on evictions and foreclosures while cities on each coast have started taking their own actions. Miami and San Jose, Calif., have temporarily stopped all evictions in light of the pandemic, and several other cities, including San Francisco …

Calls mount for U.S. to halt foreclosures, evictions Read More »

Borrowers who are unable to make their monthly mortgage payments due to COVID-19, also known as the coronavirus, have options to postpone payments, according to a new statement released by the Federal Housing Finance Agency. FHFA Director Mark Calabria reminded mortgage servicers this week to offer forbearance options to those who are affected as the …

Mortgage Forbearance Options Available to Owners Affected by Coronavirus Read More »