Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

24
Posts
6
Votes
Michael D.
  • Rental Property Investor
  • Cleveland, OH
6
Votes |
24
Posts

Mortgage Cancellation Act of 2020

Michael D.
  • Rental Property Investor
  • Cleveland, OH
Posted

Have a read on this article here and give me your thoughts, I myself am going to have to re-read it again to fully understand what it entails and how it fully impacts us, were it to get pushed through.

https://www.fool.com/millionac...

Excerpt of the article:

Talk over the second round of stimulus is underway with three proposed policies on the table at the present time, one of which would have a big impact on homeowners, tenants, landlords, and real estate investors everywhere: The Rent and Mortgage Cancellation Act of 2020.

This bill, sponsored by Representative Ilhan Omar, D-M.N., would eliminate rental and mortgage payments on any primary residence for the duration of the national emergency, allowing landlords and lenders to recoup losses by applying to a relief fund, but there are stipulations.

Let's look at what the act proposes and how it would work and see how it would affect real estate investors.

Loading replies...