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28 March 2020 | 52 replies
During the potential 360-day forbearance period, no fees, penalties, or interest beyond the amounts scheduled or calculated as if the borrower made timely contractual payments shall accrue on the borrower’s account.Reciprocally, servicers may not collect any such fees, penalties, or interest during this forbearance period.
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29 March 2020 | 10 replies
This helps verify actual collected income vs what SHOULD be collected on the rent roll.
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29 March 2020 | 21 replies
I wouldn't say I'd be broke, but severely crippled and with no way to recoup the costs (e.g. unemployment).Come to think of it, I wonder if landlords would be eligible for unemployment if they can prove all their income is from rent and are compelled to go without collecting it for three months?
1 April 2020 | 125 replies
i agree with robert not all landlords are alike.but one thing we all have in common we bought are buildings on tenants paying rent.if does not matter if one unit or 1000.we all counted on that tenant paying rent.so do wantever helps you do it in collecting rent.i have found now will most tenants i will talked to most have their april rents ,and will probably have may rent will stimulas check.so start building up a cash reserve,put all major remodeling on hold.just fix what you must.your job now is to babysit your tenants ,try to get them to realize them stimulas check has to last along with those unemployment checks.i know none of you have signed up for this,but you have to adapt,or you will be one of the landlords that will go out of business.i seen many in 2008 ,that will stubborn in their ways and it hurt them.i was one for a liitle while then too.but you will learn without threat of eviction certain tenants our going to think they do not have to pay.your best chance is tell them work with you now to evoid eviction later.some will work out,and some not.but that is just like when you pick a tenant,you really do not know to 3 months later,if you got lucky and picked a great tenant.
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27 March 2020 | 6 replies
At least not until April and possibly May collection are known.
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1 April 2020 | 34 replies
Send the balance due to a collections agency and have them report the balance owed to the credit reporting agencies.
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30 March 2020 | 5 replies
Look at it again in May and hopefully collect rent in the meanwhile.
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13 April 2020 | 3 replies
I definitely feel bad for our society collectively, but I also don't think they should stigmitize us as landlords--who are really job creating entrepreneurs and small business owners.Us landlords are probably going to be the last ones that government and society will think to need help or assistance.
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29 March 2020 | 2 replies
My questions is if collecting unemployment would effect me refinancing on one property and/or obtaining a mortgage on another?
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6 April 2020 | 43 replies
During the potential 360-day forbearance period, no fees, penalties, or interest beyond the amounts scheduled or calculated as if the borrower made timely contractual payments shall accrue on the borrower’s account.Reciprocally, servicers may not collect any such fees, penalties, or interest during this forbearance period.