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Updated almost 5 years ago,

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.

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