Rent Assistance,Mortgage Forbearance,Eviction & Foreclosure Moratoriums& Stimulus Package Assistance

I’ve created a passive income stream of $67k per month in rental income, and my properties are currently worth $9.6M. I did this ​while working a full-time job, and I’m going to show you how you can do it too. Identity Guard-Save 33% or more: https://identityguard.y8uw.net/c/2731... Amazon Store: Check out my favorite books, smart home products, office gear and rental property materials: https://www.amazon.com/shop/stolenyorkie Tesla Referral Code to get 1,000 miles of free Supercharging or cash: https://ts.la/cheryl22851 ----------------------------------------------------------------------------------------------------------------------- I've gotten a lot of questions asking if my tenants have been paying rent, details and timing about the Eviction Moratoriums and, rent and mortgage assistance programs and are there any changes with the $1.9% 3rd Stimulus Package that recently passed in the House and is in the Senate. (Steve L. from TN) If you are thinking about investing in real estate, or if you are a new investor I can see this being a major concern of yours. Body My tenants are paying as well as usual I've had very little change in collections. One tenant had to move out from loss of wages, and I re-rented the property again immediately. Eviction Moratoriums I did have one bad tenant who was trying to take advantage of the system who moved in, in October and immediately stopped paying rent. After not appearing to court in December, the Judge ordered them to leave, and I rented it immediately. See my eviction video. (add card) In my case, the tenants lied on their application about not being evicted before, the number of the people living in the house, and disturbing the neighbors and other suspicious activity. The rent is not forgiven, just delayed They have to fill out a form certifying that they will become homeless, that they were impacted under penalties of fines and imprisonments. Peter Warden from The Mortgage Reports The Eviction Moratorium has been extended through March 31st $25 billion in rental assistance will be available through state and local governments to help renters who can't make payments To qualify for rent relief, tenants will have to meet certain conditions, including: The household can't make more than 80% of their area's median income Renters must be experiencing financial hardship related to the pandemic The renter must be at risk of losing their housing Since funds will be distributed locally, tenants and landlords hoping to qualify for relief will need to check relief programs operating in their area. For starters, check this spreadsheet of local housing programs, compiled by the National Low Income Housing Coalition, to find rental assistance programs currently operating in your state or county. What to do if you're behind on rent The National Low Income Housing Coalition has a lookup tool that can help renters find state and local assistance. But you must still keep in touch with your landlord if you're having trouble paying your rent. On Saturday February 27th, The House passed the 3rd Stimulus Bill ($1.9T), and it has moved to the Senate The $1400 stimulus checks are one element of a wide-ranging package that also includes $350 billion for state and local aide; $130 billion for schools; $160 billion for vaccinations, testing and other health care system support; an enhanced child tax credit and other provisions including rental assistance and food assistance. Mortgage Forbearance A forbearance plan, just temporarily pauses your mortgage payments for up to 15 - 18 months. No reporting to credit bureaus about late or 'missing' loan payments, as long as you are not behind on your payment. No penalties or late fees. Loan modifications that could allow you the same or lower monthly payments when things return to normal Homeowners do not have to prove they're in financial distress in order to get mortgage relief. That means no extensive documentation. There are no documents required to go into forbearance; all you have to do is contact your service provider. In March and April of 2020 I deferred every debt possible and applied for all mortgage forbearance programs, just to preserve capital and hunker down to survive the storm. After several months, I paid back some and added some to the end of the loan. These have been extended and are still available if you need them. A savvy investor could use this tool to save some cash for a down payment on another property. It's not free money, and don't do anything dishonest. If families use up the forbearance period and still can't afford their payment, luckily it's a great time to sell and prevent a foreclosure. Foreclosure Moratoriums Currently, mortgage companies cannot start foreclosure proceedings against homeowners who are unable to make home loan payments.