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Polls Discuss Who is going to pay the back rent when the eviction moratorium ends? at the General Forum; Originally Posted by FrancSevin As I understand it, these property owners, if they go under, will lose their property to ...

Poll: Who is going to pay the back rent when the eviction moratorium ends?
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Who is going to pay the back rent when the eviction moratorium ends?

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  #11 (permalink)  
Old 06-29-2021, 09:57 AM
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Default Re: Who is going to pay the back rent when the eviction moratorium ends?

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Originally Posted by FrancSevin View Post
As I understand it, these property owners, if they go under, will lose their property to the banks who will then set them up for a "quick sale" option. Any sold short, the bank losses of the Quick sale will likely be paid by the government. So yes, the Tax payers may well foot a good portion of this mistake.

I ran into this a few years ago on a property where a woman who owned the house completely, took a mortgage and gambled it away. The $300K house sold for $195K the bank was re-emberssed by the government.
Most loans are ultimately backed by the government. VA, 100%. FHA, the consumer pays a premium for mortgage insurance. To the government. Conventional is most often backed by PMI (Private Mortgage Insurance).

Rents however, are not backed. And that's what the government is messing with. It's a given the property owner is going to eat this.
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Old 06-29-2021, 10:29 AM
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Default Re: Who is going to pay the back rent when the eviction moratorium ends?

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Originally Posted by jimbo View Post
Most loans are ultimately backed by the government. VA, 100%. FHA, the consumer pays a premium for mortgage insurance. To the government. Conventional is most often backed by PMI (Private Mortgage Insurance).

Rents however, are not backed. And that's what the government is messing with. It's a given the property owner is going to eat this.
I'd look it up if I was interested.
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Old 06-29-2021, 11:53 AM
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Default Re: Who is going to pay the back rent when the eviction moratorium ends?

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Originally Posted by saltwn View Post
I'd look it up if I was interested.
So then, why are you posting at all in this thread?
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Old 06-29-2021, 02:15 PM
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Default Re: Who is going to pay the back rent when the eviction moratorium ends?

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I'd look it up if I was interested.
Look up what?
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Old 06-30-2021, 12:35 AM
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Default Re: Who is going to pay the back rent when the eviction moratorium ends?

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Originally Posted by jimbo View Post
Look up what?
To see if that is true.
But this rent worry might be something to try to get included in the next bill in congress if it's not already a piece of legislation.
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Old 06-30-2021, 07:18 AM
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Default Re: Who is going to pay the back rent when the eviction moratorium ends?

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Originally Posted by saltwn View Post
To see if that is true.
But this rent worry might be something to try to get included in the next bill in congress if it's not already a piece of legislation.
So since you are technically no longer a member of the taxpayer pool to the degree most people are, you couldn't give two ****s. Lovely.

Since people who were unemployed during the lockdowns received excess money from the tax payers, maybe they should have paid something towards their rent? Or maybe even put it aside to pay when the moratorium was lifted? That's what responsible people would do.

I would really like to see the people that didn't pay anything towards their rent or mortgages after receiving the additional $2400 a month have their credit scores locked into the lowest score possible, until they make some sort of payments towards what they owe.

Unfortunately, it's easier for some people, and the government also, to just dig in further to the taxpayers pocket to bail out the irresponsible class.
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Old 06-30-2021, 07:40 AM
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Default Re: Who is going to pay the back rent when the eviction moratorium ends?

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Originally Posted by saltwn View Post
To see if that is true.
But this rent worry might be something to try to get included in the next bill in congress if it's not already a piece of legislation.
Doesn't take much looking up to know what I said was true.
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Old 06-30-2021, 11:16 AM
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Default Re: Who is going to pay the back rent when the eviction moratorium ends?

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Originally Posted by GottaGo View Post
So since you are technically no longer a member of the taxpayer pool to the degree most people are, you couldn't give two ****s. Lovely.

Since people who were unemployed during the lockdowns received excess money from the tax payers, maybe they should have paid something towards their rent? Or maybe even put it aside to pay when the moratorium was lifted? That's what responsible people would do.

I would really like to see the people that didn't pay anything towards their rent or mortgages after receiving the additional $2400 a month have their credit scores locked into the lowest score possible, until they make some sort of payments towards what they owe.

Unfortunately, it's easier for some people, and the government also, to just dig in further to the taxpayers pocket to bail out the irresponsible class.
Being a responsible citizen is, unfortunately, not a requirement for citizenship or the right to vote.

I consider myself a "WOKE" person.
Many years ago, in my early youth, I "woke up" one morning to realize if I didn't get my @ss out of bed and find a job, I would be starving and homeless.

Been "WOKE" ever since.
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