US Politics Mega-thread - Page 2228

On April 04 2020 00:21 farvacola wrote:

Folks who use direct deposit for tax refunds should get their stimulus in under two weeks, per my inside sources

On April 04 2020 00:32 Mohdoo wrote:


Nice, I'm stoked. How long until mortgages are frozen?

On April 04 2020 00:41 Nevuk wrote:
I was under the impression mortgage freezing was being done by States rather than the Feds.

CARES Act Relief from Foreclosure: CARES Act § 4022 provides foreclosure relief for "federally-backed loans," which means loans (for 1–4 family properties) purchased, securitized, owned, insured, or guaranteed by Fannie Mae or Freddie Mac, or owned, insured, or guaranteed by FHA, VA, or USDA. See § 4022(a)(2). To determine if a mortgage loan is “federally-backed,” see “Determining If a Mortgage Loan is Federally Backed,” infra. About one-third of residential mortgages are not federally backed and thus not covered by the CARES Act. These homeowners (and tenants) will have to rely on future federal action or state orders, described at “State Limitations on Foreclosures and Evictions,” infra, or on voluntary actions by mortgage servicers.

Under the CARES Act, a servicer of federally backed mortgage loan may not: initiate any judicial or nonjudicial foreclosure process, move for a foreclosure judgment, order a sale, or execute a foreclosure-related eviction or foreclosure sale. The provision lasts for not less than the sixty-day period beginning on March 18, 2020. This provision is not limited to borrowers with a COVID-19 related hardship. See § 4022(c)(2).

Under the CARES Act, homeowners with federally backed mortgage loans affected by COVID-19 can request and obtain forbearance from mortgage payments for up to 180 days, and then request and obtain additional forbearance for up to another 180 days. During a period of forbearance, no fees, penalties, or interest shall accrue on the borrower’s account beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract. The covered period appears to be during the emergency or until December 31, 2020, whichever is earlier. See § 4022(b), (c)(1).

CARES Act Forbearance Rights for Multi-Family Properties (5 or more units) and Rights of Their Tenants: The Act provides for different forbearance rights for owners of multi-family property, and also provides that tenants are protected from eviction if the owner seeks such forbearance. See CARES Act § 4023.

CARES Act Protections Against Eviction: During the 120-day period beginning on the Act’s March 27, 2020 enactment date, the lessor of a “covered dwelling” may not file a court action for eviction or charge additional fees for nonpayment of rent. See CARES Act § 4024(b). After that 120-day period, the lessor cannot require the tenant to vacate until it gives the tenant a thirty-day notice to quit. See § 4024(c). A covered dwelling is one where the building is secured by a federally backed mortgage loan or participates in certain federal housing programs. See § 4024(a). A large number of governors have also initiated suspensions of all residential evictions in their states, as listed infra.

Determining if a Mortgage Loan Is Federally Backed: The CARES Act foreclosure and forbearance provisions apply only to “federally backed mortgages.” In addition, prior to CARES Act enactment different federally backed mortgage investors had announced different foreclosure policies (see “Links to Foreclosure Suspensions by Federally Backed Mortgage Investors in Effect Prior to the CARES Act,” infra). It is thus imperative to determine if a loan is federally backed and which investor is the backer: Fannie Mae, Freddie Mac, Federal Housing Administration (FHA), Veterans Affairs (VA), and the U.S. Department of Agriculture’s Rural Home Service (RHS). The following tools let one quickly determine which investor backs a particular homeowner’s mortgage loan.

On April 03 2020 20:12 GreenHorizons wrote:


I'm sure some people are very uncomfortable about the idea of poor people commonly wearing masks in public too. I can't even typically go into many gas stations with my hood on, let alone masked.

On April 04 2020 01:09 Erasme wrote:

Lol. They reopened the wet markets in China, despite another set of warnings. That's why they wear those masks in China, that and the pollution they generate forces country around them to do the same. Masks are not the answer to those diseases coming back over and over. It's just a shitty fix for another set of issues.

On April 04 2020 00:52 GreenHorizons wrote:


Here's what the NCLC says regarding the CARE act and federally backed mortgages

library.nclc.org

Couple important things noted for the tenants of those mortgage holders.

-It doesn't protect tenants in properties without federally backed mortgages/some federal housing programs at all
-It only provides protection if the land owner also applies for a forbearance based on the CARE act
-I didn't personally see how they are going to police the landlords to ensure tenants aren't evicted in conflict with the CARE act protections mentioned.

On April 04 2020 01:45 Blitzkrieg0 wrote:


It is worth adding that the vast majority of mortgages in this country are federally backed and qualify.

About one-third of residential mortgages are not federally backed and thus not covered by the CARES Act. These homeowners (and tenants) will have to rely on future federal action or state orders, described at “State Limitations on Foreclosures and Evictions,” infra, or on voluntary actions by mortgage servicers.

On April 03 2020 23:59 mierin wrote:
Apparently stimulus money may take up to 20 weeks to reach Americans. Real helpful on paying rent! I wonder if the corporate bailout money will take as long to arrive.

On April 04 2020 01:48 GreenHorizons wrote:


It's in the quote



But I'll add it to bullets because you're right it is worth highlighting.

(CNN)Kentucky is taking severe measures to ensure residents exposed to the coronavirus stay at home. Louisville residents who have been in contact with coronavirus patients but refuse to isolate themselves are being made to wear ankle bracelets.

A judge has ordered one resident to stay at home after refusing to self-quarantine. CNN affiliate WDRB reports that the person, identified as D.L. in the court order, is living with "someone who has tested positive for the illness and another person who is a presumptive case," according to an affidavit from Dr. Sarah Moyer, director of the health department.

Having been exposed to the highly contagious disease, D.L. was ordered to stay at home last week. But according to family members, D.L. "leaves the house often."

When D.L. didn't respond to the health department's messages, Jefferson Circuit Court Judge Angela Bisig ordered the Department of Corrections to fit D.L. with a global positioning device for the next 14 days. If D.L. leaves the house again, he or she could be criminally charged, WDRB reports.

D.L. is not the only Louisville resident ordered to wear ankle monitors to contain the spread of the coronavirus. According to WDRB, there are three other known cases so far. Two other people who live in the same home — one who has tested positive, and the other who has not — were ordered to remain in their home last week after both refused to stay isolated.

And another man was put under house arrest after he went out shopping despite having tested positive for the coronavirus, according to WDRB.