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24 July 2021 | 41 replies
Tenants who have been approved for unemployment are automatically authorized Section 8 vouchers with online verificationAt the end of the year landlords will receive a 1099-MISC for each property for the amount of rent received which is totally subject to depreciation.At the end of the year tenants will receive a 1099-MISC for the amount of rent paid on their behalf and subject to their tax bracket.This can all be set up online, is totally verifiable, and efficient.When you no longer qualify for unemployment, you lose your section 8 and landlords only qualify for rentals that have unemployed tenants and not those with the ability to pay.Again this can all be done online and is simple for both the Landlord and Tenant to understand.It is also the correct way to do it by the Internal Revenue Code.This SBA Loan program is a complete sham and is being run by the BANKS under guise of the DEPT OF TREASURY.I would get a lawyer opinion before I would do this, because not only are you going to go bankrupt you are going to wind up dealing with the bank secrecy act and treasury regulations in addition to the IRC.WARNING LANDLORDS YOU ARE PLAYING WITH FIRE IF YOU GO THIS ROUTE.
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10 April 2020 | 84 replies
The guys big advice today was to buy US Treasurys for the forceable future.
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2 April 2020 | 5 replies
If the fed/treasury are successful with turning around the US economy with stimulus they might then have to deal with an inflation problem which could make PRIME rate pretty scary.
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22 April 2020 | 9 replies
@Jaysson Brooks@Chris LevarekHere are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.
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10 April 2020 | 6 replies
Treasury bonds are typically considered the safest investment.
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18 April 2020 | 44 replies
For the most part they just kept rolling the treasuries they were buying when they matured.
5 April 2020 | 5 replies
Since the Treasury Secretary said they looked at the fraud components of this program, I'm assuming there will be some sort of political litmus test as a part of this process.In regards to people overinflating numbers, this is a loan document and if they are lying, they are committing bank fraud, which I'm sure the criminals will be doing.
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5 March 2020 | 4 replies
Fed is expected to lower rates at their March meeting. 10-year treasury is <1%, could even go lower, which will pull down mortgage rates with it.
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2 May 2020 | 89 replies
@Chris VanAckeren It is very difficult to pick bottoms and tops , As a Loan Officer with rates this low I think a prudent choice would be lock the rate . no one has a crystal ball and can predict rates but with the recent major fall off in 10 year treasury which is an indicator for 15 & 30 year mortgages , Today they started edging back up today.
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10 March 2020 | 4 replies
I am buying a multiunit rental and the rate I am getting is “ the rate will be calculated 5 business days prior to closing and will be fixed for 5 years at a rate of 275 basis points over corresponding federal reserve statistical release H.15 five year treasury constants maturity with a floor of 4.5%.