All Mortgages should be for 90-120 days

N

NY_HOOD

all mortgages should be frozen for 90-120 days. This is much better than giving americans a check that wont do much.
Many Americans will not be able to pay or have trouble paying their mortgages. After this resolves, many Americans that were late on mortgages will now have bad credit and wont be able to borrow once the virus is under control. That can make the economic recovery even worse. Mights as well freeze mortgages. They still have to pay but just put a freeze on them.
Also, if someone has a mortgage, whether commercial or residential and they have renters, their renters also get a freeze. That would be enforced.
 
Pointless for seniors and then you're adding to the bank bailout. Regressive. F*cking renters. You shouldn't try to think so much.
 
NY_HOOD said:
Also, if someone has a mortgage, whether commercial or residential and they have renters, their renters also get a freeze. That would be enforced.
More...

Freeze what? Freeze on increased rent rate or freeze (moratorium) on paying the rent?
 
Mortgages still have to be paid, they are just frozen. Essentially a 30 year mortgage will now be a 30 year and 90 day mortgage.
Why would landlords suffer if they dont need to pay mortgages either?
 
NY_HOOD said:
Mortgages still have to be paid, they are just frozen. Essentially a 30 year mortgage will now be a 30 year and 90 day mortgage.
Why would landlords suffer if they dont need to pay mortgages either?
More...

What you don't understand that a freeze is not simply a freeze. You can't make that debt disappear. If people are paying their mortgages, who is footing the bill. That is what you fail to understand. As somebody said, you would have to bail out the banks again for that to possibly work. Even for landlords, they mortgages from banks, banks created CDOs and sold them. It isn't simply a line, it's like Ouroboros; each piece feeds the next like the dragon eating its tail.

The market is designed to go up and down.
 
You must log in or register to reply here.
Back
Top