Strategizing for possible housing bailout

[Shawn Blake]

Hey!

Recently came across some whispers of Biden possibly bailing out the housing market by allowing forbearers to extend their mortgages for an additional 40 years (basically anyone can claim they were impacted by COVID and extend their mortgage). Not very sure of the specifics on the bill, but curious if anyone has any info on this and how it might possibly change the game for newbies like myself looking to get into an already competitive market for the first time. Most importantly, how might someone new strategize to get into a high-priced market if this legislation passes?

I'm specifically looking to invest outside of the LA area so any California specific detail would be great.

Thanks!

Shawn