Wow Chase just announced Tuesday will start 20% down and 700 Fico score needed for first time home buyers!

Headlines on the internet and in the newpapers announcing that there will be no evictions for 60 to 90 days. 

Don't be too shocked to find out that there are some licensed professionals willing to craft such a letter without any evidence of a diagnosis.Once at the end of lease, let it flip to month to month or announce non-renewal and self removal is required. 

Chase Bank announced yesterday, that on this coming Tuesday new stricter lending guidelines will begin as they prepare for the fallout of the COVID-19 hit to the housing market.

On the other hand, JP just announced that they had increased the credit score required to qualify for personal mortgages to 700, and bumped the down payment from 10% to 20%, which means ---- fewer people can buy home, which will lead to an increase in demand for multifamily. 

I will try to be as clear and concise as possible in explaining my situation and perceived options, as well as my personal knowledge about SARS-COV2 and how it may impact our society and real estate markets.Current Status: I left San Francisco in early March the night before shelter in place was announced, to ride out the virus back in Minnesota with my family, I also have two properties here in MN  (a single family home and a 4 plex** Info below). 

The first thing that crossed my mind when the President announced no evictions, etc .... was what about the landlords.

That's why the Fed announced that it is willing to buy an unlimited amount of mortgage-backed securities.The main worry of lenders is always the ability for a borrower to repay.

Just as some mortgage underwriters have announced raising their qualification metrics, I have followed suit.

By the time 30 states had announced closures across the U.S. on March 30th, the S&P 500 had declined by almost 24% from a record high five weeks earlier, and SPDR S&P Retail Index ETF, which includes companies like Rite Aid, Kroger, and Dollar General, dropped by over 35% during that same period.The crisis is having a dramatic impact on the public market pricing of retail real estate.