"Ticked Off Vic: A Message to the Government"https://youtu.be/GLcNStHTDjM
This is going to be an enormous problem. The second wave is a foreclosure wave.pic.twitter.com/xSllOtGaQm
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Love this! Thank you for sharing!
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It's fucking bonkers policy. Just move the payments to the end of the loan. You still get the cash, folks don't lose their homes. I don't understand why that's so difficult for folks to see as a win-win.
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Because Wall Street investors don't get to buy up houses for pennies on the dollar that way. They have been the biggest landlord in the country since the last housing crisis.
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This will be worse than what we saw from 2008-2012 Foreclosure filings are going to spike dramatically.
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No, it won't be
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Is there a way to get banks to just move any missed payments to the back end of the loans? I imagine they would lose the interest payments in the short term so maybe fed money could go there?
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That’s normal forbearance , 3-6 mo payment deferred and the difference is tacked to the end of the loan. Some backs even exten the loan by the deferred amount.
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One hell of a time bomb.
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