Please note that per the multiple loan rules, the amount of the loan must be reduced by the highest outstanding balance of any other 401k participant loan over the prior 12 months (regardless of whether such other loan is currently outstanding).Monthly or Quarterly Payments: The loan must be paid back in equal monthly or quarterly payments of principal and interest.Interest Rate: The interest rate is equal to prime plus 1% (or CD rate plus 2%) and is a fixed rate that is set at the time that the loan is taken.Term of the Loan: Five-year term unless the proceeds of the loan are used to purchase a primary residence in which case the term of the loan may be up to 30 years.First Payment:For monthly payments, the first payment that would otherwise be due is delayed until January 2021 (e.g. if the first monthly payment would have been due on May 15, 2020, it will be due on January 15, 2021).For quarterly payments, the first payment that would otherwise be due is delayed until the first quarter of 2021 (e.g. if the first quarterly payment would have been due on May 15, 2020, it will be due on February 15, 2021).EXISTING 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.If you meet the above conditions:You may delay making any 401k loan payments due between 3/27/2020 and 12/31/2020.You must commence making loan payments in January 2021 (or the first quarter of 2021 if your loan payments are due on a quarterly basis).If you elect to delay making such loan payments, the term of your loan will be appropriately extended.

However, Portland being Portland, you only need one resident (not even an owner) to tie your project up in knots for an extended period. 

Hey guys, I’m looking to extend my network and find some Real Estate Attorneys in North Carolina to assist with purchase and assignment contracts and closings.

I do believe that with the national crisis the eviction process in VA has been extended to the end of this year.

It is easier to pay them to leave now then waiting months; since you cannot evict them for at least another 45 days...which will then be extended. 

Conducting real estate business with HML definitely requires the investor(s) to know the exact calculation for expenses, duration of development, etc. 

I’m buying an occupied house from a foreclosure owned by a bank it’s a great deal that I didn’t want to pass but I just heard that Trump extended the eviction to the end of the year for people got effected by the pandemic the pervious owner didn’t pay their mortgage since 2007 so they shouldn’t fall under Trump order right ?

In fact, immediately after the tenant is directed to "provide" the declaration to their landlord, it states "Unless the CDC order is extended, changed, or ended, the order prevents you from being evicted or removed from where you are livingthrough December 31, 2020." 

If I was the seller, I'd set a time limit on the offer since he's taking it off market for an extended period and the longer you wait the better the odds of s*** happening. 

Hi everyone! I have a wholesale deal where the offer has been accepted. I'm looking to set the closing date atleast 6 weeks out. My concern is that the owner has her lawyer involved (probate). Does anyone have any adv...