Or maybe the tenant with a sick parent whose financials went to hell overnight.

There are times to panic,  i say if you are not well funded PANIC.The problem i see is many are still in the denial stage.My condotel run by Hilton went dark overnight.97% occupancy to ZERO.Loss of income is going to happeN. 

I'm in the camp that thinks we'll see a quick comeback once everyone can see that the worst is passed us and there are solutions to our problems.

Thanks all for the input.While I will reject generically, I fall in @James Wise camp on this and I thought this was an interesting situation to discuss. 

One camp thinks there is going to be a flood of distressed cheap deals.but if you stop the foreclosures that cuts down on it a bunch.. of course there are always panic sellers.or those that have liquidity issues and need to sell for one reason or another. 

So if the state wants to let these people cancel their lease without payment then these same people can now become wards of the state and move into FEMA camps or whatever it would be called up north. 

Hello Biggerpockets,Hope all is well and everyone is safe and healthy.I was doing a cash out refi for a three family at a 75% LTV and overnight they dropped it.

It seems like there are two camps out there.

Seems like the lender overlays and costs went up over night.

They just need a place to crash overnight.