This is not a forgiveness of debt or free money. Homeowners will work out a repayment plan once they recover financially. Calabria says that might involve just extending the term of the loan, but it may vary by lender and each particular case.
"I think this is a great first step," says Chris Mayer, a real estate economist at Columbia University's business school. He says the move is"critically important at this point so we just don't have mass panic."
I agree! Now let's see governments suspend their favorite way of stealing your home - property taxes. I'll wait. 🙄
This is very good news!
Yes continue to prop up housing prices and increase interest rates for first time home buyers
New York Governor “He announced banks are going to honor a 90-day relief period on mortgage payments and waive fees for overdrafts, credit cards and ATMs.”
And how about the rent?
what about renters?
“Urging”
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