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On April 04 2020 00:21 farvacola wrote:Show nested quote +On April 04 2020 00:14 TheTenthDoc wrote: As much as I hate how slow the individual stimulus rollout will be, there are a few good reasons why it will take ages. I still can't decide where I personally stand on checks (which hugely penalize those who would have to open accounts just to cash them and have far more logistical hurdles) vs gift cards (which can be easily stolen) vs something else entirely. The US does not have a good infrastructure for providing money directly to adults. Solving the problem for those without stable addresses is another huge hurdle, and I'm not sure if they'll even bother tackling that one.
Hopefully they follow through on everyone who used direct deposit for their taxes getting it that way, though (even though that's part of why corporations are sure to get it much faster). Folks who use direct deposit for tax refunds should get their stimulus in under two weeks, per my inside sources
Nice, I'm stoked. How long until mortgages are frozen?
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Mortgage freezing is a far less uniform undertaking, so I’d be aggressively contacting your mortgage lender in the meantime. Most will likely agree to something long before a regulatory freeze of standard residential mortgages actually takes hold. All FHA mortgages are already frozen iirc.
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On April 04 2020 00:32 Mohdoo wrote:Show nested quote +On April 04 2020 00:21 farvacola wrote:On April 04 2020 00:14 TheTenthDoc wrote: As much as I hate how slow the individual stimulus rollout will be, there are a few good reasons why it will take ages. I still can't decide where I personally stand on checks (which hugely penalize those who would have to open accounts just to cash them and have far more logistical hurdles) vs gift cards (which can be easily stolen) vs something else entirely. The US does not have a good infrastructure for providing money directly to adults. Solving the problem for those without stable addresses is another huge hurdle, and I'm not sure if they'll even bother tackling that one.
Hopefully they follow through on everyone who used direct deposit for their taxes getting it that way, though (even though that's part of why corporations are sure to get it much faster). Folks who use direct deposit for tax refunds should get their stimulus in under two weeks, per my inside sources Nice, I'm stoked. How long until mortgages are frozen?
If your mortgage was sold to Freddie or Fannie you just need to call and specifically mention the care act.
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I was under the impression mortgage freezing was being done by States rather than the Feds.
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On April 04 2020 00:41 Nevuk wrote: I was under the impression mortgage freezing was being done by States rather than the Feds.
Here's what the NCLC says regarding the CARE act and federally backed mortgages
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.
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 -About one-third of residential mortgages are not federally backed and thus not covered by the CARES Act. -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.
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On April 04 2020 00:41 Nevuk wrote: I was under the impression mortgage freezing was being done by States rather than the Feds. Mortgages are complicated creatures of both state and federal law; the state side relief measures mostly concern access to the courts and judicial processes incident to enforcement of mortgagee rights. Not many states have actually messed with mortgages themselves.
The federal side is more concerned with standing obligations under statutes like the FDCPA, TILA, and RESPA. In a nutshell and with a few state-specific exceptions, the states can limit court access, but won’t mess with mortgage obligations per se, whereas the feds can mess around with those obligations by enacting changes to the governing laws.
Best course of action regardless is to be vigilant about contacting lenders.
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Mortgage freezing is a joke if nothing is done about people renting. The most vulnerable among us are not rich enough to even consider buying a house.
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That’s another part of the puzzle; leases and renting are distinctly more governed by state rather than federal law, so relief on that front is going to be far more state-centric. That is not to say that the feds couldn’t come out and say, no more rent for 6 months, rather that doing so requires political will that is less available than would be the case at the state level.
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On April 03 2020 20:12 GreenHorizons wrote:Show nested quote +On April 03 2020 18:16 Erasme wrote:On April 03 2020 03:39 GreenHorizons wrote:On April 03 2020 03:27 TheTenthDoc wrote: There is a difference between believing people are dimwitted and believing that people are imperfect. I could equally argue that those in favor of global masking believe people are too stupid to cough into their armpits and wash down with hand sanitizer-that's ~90% of the way to masking with no consequences to the uninfected. Everything we know about the biological nature of COVID-19 points to standard or ad hoc masks increasing one's chances of contracting COVID-19-it does not help you at all, as you admit, and can hurt you-but preventing one vector of transmission for the infected.
That's a textbook public health tradeoff, and at some point case load will be so high it makes sense to make it, but pretending it's the best policy everywhere is overly simplistic nonsense.
Attributing the success of Asian countries to masking instead of their much faster and more universal acceptance of social distancing is...interesting, to say the least. The acceptance of social distancing is certainly helpful, as is collective social perspectives, and reverence for elders. Masks aren't a silver bullet, just a common sense measure the west will increasingly adapt as it realizes it should have a long time ago (and had stockpiles ready for both medical professionals and the gen pop, but was too busy at every level and in media talking trash about how other countries were handling it to realize how far behind they were by no one's fault but our own). There's a bunch of reasons masks are commons in the east and not the west. And all of them are sanitary. 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. 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.
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On April 04 2020 01:09 Erasme wrote:Show nested quote +On April 03 2020 20:12 GreenHorizons wrote:On April 03 2020 18:16 Erasme wrote:On April 03 2020 03:39 GreenHorizons wrote:On April 03 2020 03:27 TheTenthDoc wrote: There is a difference between believing people are dimwitted and believing that people are imperfect. I could equally argue that those in favor of global masking believe people are too stupid to cough into their armpits and wash down with hand sanitizer-that's ~90% of the way to masking with no consequences to the uninfected. Everything we know about the biological nature of COVID-19 points to standard or ad hoc masks increasing one's chances of contracting COVID-19-it does not help you at all, as you admit, and can hurt you-but preventing one vector of transmission for the infected.
That's a textbook public health tradeoff, and at some point case load will be so high it makes sense to make it, but pretending it's the best policy everywhere is overly simplistic nonsense.
Attributing the success of Asian countries to masking instead of their much faster and more universal acceptance of social distancing is...interesting, to say the least. The acceptance of social distancing is certainly helpful, as is collective social perspectives, and reverence for elders. Masks aren't a silver bullet, just a common sense measure the west will increasingly adapt as it realizes it should have a long time ago (and had stockpiles ready for both medical professionals and the gen pop, but was too busy at every level and in media talking trash about how other countries were handling it to realize how far behind they were by no one's fault but our own). There's a bunch of reasons masks are commons in the east and not the west. And all of them are sanitary. 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. 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.
I'd agree masks are not silver bullet solution for the phenomena of viruses borne from wet markets in China or factory farms in the US like swine flu.
Trump is expected to announce new CDC guidelines on face covering, in part because people are seeing images like this + Show Spoiler +of public transportation being used by essential workers/people doing essential business in NY
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On April 04 2020 00:52 GreenHorizons wrote:Show nested quote +On April 04 2020 00:41 Nevuk wrote: I was under the impression mortgage freezing was being done by States rather than the Feds. Here's what the NCLC says regarding the CARE act and federally backed mortgages library.nclc.orgCouple 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.
It is worth adding that the vast majority of mortgages in this country are federally backed and qualify.
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On April 04 2020 01:45 Blitzkrieg0 wrote:Show nested quote +On April 04 2020 00:52 GreenHorizons wrote:On April 04 2020 00:41 Nevuk wrote: I was under the impression mortgage freezing was being done by States rather than the Feds. Here's what the NCLC says regarding the CARE act and federally backed mortgages library.nclc.orgCouple 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. It is worth adding that the vast majority of mortgages in this country are federally backed and qualify.
It's in the quote
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.
But I'll add it to bullets because you're right it is worth highlighting.
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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.
I get the frustration that you're feeling however it's really not the same thing. The Federal Reserve (Fed) isn't literally sending out cheques to all Fortune 500 companies...
One of the many things that they are doing things like purchasing corporate bonds that are under certain terms (admittedly they're accepting BBB (barely investment grade) ratings), however they're also focusing on American business with significant material operations in the continental United States. Furthermore the maximum maturity on corporate bonds that they'll purchase is 5 years. They're guaranteeing liquidity in the bonds so that companies aren't having to liquidate good, solid assets to try and pay their creditors before they hit a negative covenant or because of the general lack of liquidity stemming from the uncertainty around COVID-19.
That's not even the whole picture of one of the multiple vehicles the Fed is utilizing right now. It's not a situation of just sending cheques out Ouija board style.
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On April 04 2020 01:48 GreenHorizons wrote:Show nested quote +On April 04 2020 01:45 Blitzkrieg0 wrote:On April 04 2020 00:52 GreenHorizons wrote:On April 04 2020 00:41 Nevuk wrote: I was under the impression mortgage freezing was being done by States rather than the Feds. Here's what the NCLC says regarding the CARE act and federally backed mortgages library.nclc.orgCouple 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. It is worth adding that the vast majority of mortgages in this country are federally backed and qualify. It's in the quote Show nested quote +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. But I'll add it to bullets because you're right it is worth highlighting.
Missed it because it wasn't bold/underlined I guess. My bad.
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On April 04 2020 00:21 farvacola wrote:Show nested quote +On April 04 2020 00:14 TheTenthDoc wrote: As much as I hate how slow the individual stimulus rollout will be, there are a few good reasons why it will take ages. I still can't decide where I personally stand on checks (which hugely penalize those who would have to open accounts just to cash them and have far more logistical hurdles) vs gift cards (which can be easily stolen) vs something else entirely. The US does not have a good infrastructure for providing money directly to adults. Solving the problem for those without stable addresses is another huge hurdle, and I'm not sure if they'll even bother tackling that one.
Hopefully they follow through on everyone who used direct deposit for their taxes getting it that way, though (even though that's part of why corporations are sure to get it much faster). Folks who use direct deposit for tax refunds should get their stimulus in under two weeks, per my inside sources
I havent filed this year and I used an old bank account last year, should I just file for this year (it wont matter when I do it really when it comes to how I file or anything) in order to update my bank info?
I had heard theyd have a website where you could update bank info for the stimulus check too, but I dunno how real thats turned out to be.
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On April 04 2020 02:01 Zambrah wrote:Show nested quote +On April 04 2020 00:21 farvacola wrote:On April 04 2020 00:14 TheTenthDoc wrote: As much as I hate how slow the individual stimulus rollout will be, there are a few good reasons why it will take ages. I still can't decide where I personally stand on checks (which hugely penalize those who would have to open accounts just to cash them and have far more logistical hurdles) vs gift cards (which can be easily stolen) vs something else entirely. The US does not have a good infrastructure for providing money directly to adults. Solving the problem for those without stable addresses is another huge hurdle, and I'm not sure if they'll even bother tackling that one.
Hopefully they follow through on everyone who used direct deposit for their taxes getting it that way, though (even though that's part of why corporations are sure to get it much faster). Folks who use direct deposit for tax refunds should get their stimulus in under two weeks, per my inside sources I havent filed this year and I used an old bank account last year, should I just file for this year (it wont matter when I do it really when it comes to how I file or anything) in order to update my bank info? I had heard theyd have a website where you could update bank info for the stimulus check too, but I dunno how real thats turned out to be. Without knowing more, I think filing a return to get them your current bank info is a good idea, so long as you’re sure you aren’t gonna get dinged for an increase in 2019 income.
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On April 04 2020 02:12 farvacola wrote:Show nested quote +On April 04 2020 02:01 Zambrah wrote:On April 04 2020 00:21 farvacola wrote:On April 04 2020 00:14 TheTenthDoc wrote: As much as I hate how slow the individual stimulus rollout will be, there are a few good reasons why it will take ages. I still can't decide where I personally stand on checks (which hugely penalize those who would have to open accounts just to cash them and have far more logistical hurdles) vs gift cards (which can be easily stolen) vs something else entirely. The US does not have a good infrastructure for providing money directly to adults. Solving the problem for those without stable addresses is another huge hurdle, and I'm not sure if they'll even bother tackling that one.
Hopefully they follow through on everyone who used direct deposit for their taxes getting it that way, though (even though that's part of why corporations are sure to get it much faster). Folks who use direct deposit for tax refunds should get their stimulus in under two weeks, per my inside sources I havent filed this year and I used an old bank account last year, should I just file for this year (it wont matter when I do it really when it comes to how I file or anything) in order to update my bank info? I had heard theyd have a website where you could update bank info for the stimulus check too, but I dunno how real thats turned out to be. Without knowing more, I think filing a return to get them your current bank info is a good idea, so long as you’re sure you aren’t gonna get dinged for an increase in 2019 income.
yeah, precisely no concern of that lol
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After refusing to self-quarantine, a Kentucky man living with someone who has tested positive for COVID-19 has been ordered to wear an ankle monitor to ensure he stays inside his home. At least two other residents have been issued these monitors.
(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.
www.cnn.com
As policing these stay home orders/self-quarantine expectations becomes a bigger issue due to increasing numbers of infections, the legal and practical questions of enforcement are being confronted by communities around the country (and world). I'm curious what people think are appropriate ways to enforce stay home/essential businesses orders (Gun shops in WA are declaring themselves essential businesses in conflict with the Gov.'s order for example).
Fines, jail time, treat going in public with a positive diagnosis like manslaughter? Take away the licences of businesses that refuse to close?
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There was a guy in Missouri who was charged with a terrorist act for licking products in a walmart and posting it to social media. Fines, jail time, suspension of business licenses are probably the only way to get the seriousness of this across to people.
Any physical violence is to be condemned and not tolerated by any persons.
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In Vancouver they suspended the business license of a tim hortons for violating measures.
https://vancouversun.com/news/covid-19-vancouver-suspends-business-licence-for-non-compliant-tim-hortons/
It's a difficult location to be honest - lots of homeless who're used to parking themselves in a store without security and employees who aren't paid enough to kick them out.
Suspension of business licenses allows for existing civil punishments to be applied versus any quarantine specific measures. For people it's a much harder proposition besides closing public property off where people gather for example closing beaches etc.
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