Will all banks halt loans?

[John Morgan]

What are the odds all banks will put a pause on our investment loans? I’ve got two Freddie loans and seven loans through my credit union. I’ve got some reserves for this, but I could be out of a job soon myself and could use a little help if my tenants say they can’t pay.

I won an eviction case for one of my tenants on Monday in court. They’ve been terrible tenants for months not paying the last month and a half, and turned the house into a squatter/drug house with a ton of unauthorized guests living there. But now I’m stuck with them for a couple more months at least with no rental income with the evicting freeze.

Three of my other tenants just told me they got laid off and can’t pay rent. I’ve got 6 months reserves for this kind of thing, but being laid off myself as a pilot for 22 years with my company wasn’t something I thought was even remotely a possibility as of a week ago. If banks could put a pause on things for just a couple months it would help many of us immensely to reorganize to save our hard earned investments. Thoughts?