So here’s a question. Do you think our government should provide a moratorium on mortgages during this virus or not?
If so, how is this different than back during the housing crisis of 2009 many piggs were saying we should just let people lose their homes who can’t make mortgage payments?
Personally, imho this time is different in that many people could not “prevent” this thing from happening and it wasn’t an issue about moral hazard. So if that’s the case, I don’t anticipate a sudden wave of panic selling, except maybe in places where the recovery would take longer than average.
That, our everyone sues China. They have money :).[/quote]
Banks don’t want to get a bunch of property in their portfolio now. They would be wise to do this on their own. Cal Coast Credit union sent us an email last week telling us we didn’t have to pay on our car loan for 60 days and there would be no interest accrued.
Maybe PMI kicks in for those who have it ? Not sure. I don’t have it.
