Permanent low income

[Grayhead]

https://news.yahoo.com/white-house-may-hand-checks-194100378.html

Wonder how much fighting will happen if this is pushed in the US. And as always, how will it be paid for?

 

[heelbent]

Wonder how much fighting will happen if this is pushed in the US.

 

[dadika13]

Gross.

 

[Hark_The_Sound_2010]

Spain is able to do that because when they bankrupt themselves doing stuff like this they can have Germany come bail them out thanks to the whole EU setup. That is, until Germany gets sick of doing that like the UK did and bails in a.... Berlout?

 

[bluetoe]

Spain is able to do that because when they bankrupt themselves doing stuff like this they can have Germany come bail them out thanks to the whole EU setup. That is, until Germany gets sick of doing that like the UK did and bails in a.... Berlout?

or a Nazin

 

[dadika13]

or a Nazin

What's a Nazin?

 

[bluetoe]

What's a Nazin?

C'mon man. Even you should be able to figure this one out

 

[blazers]

And as always, how will it be paid for?

They're going to move money earmarked for dept of defense.

 

[dadika13]

C'mon man. Even you should be able to figure this one out

Even me?

 

[uncboy10]

I don't know for sure what the correct number is, but there is no question that a one time check of 1200 bucks isn't going to pay people's rent or put food on the table until this thing is over. If the government is going to lockdown businesses, then there needs to be a plan in place to make sure that worker's who lose their jobs aren't left out on the street. And normal state unemployment insurance doesn't cover everyone who has temporarily lost their job.

Mortgages and rent should have been frozen immediately. If this thing lasts three months then just defer those three months to the end of the loan. That way landlords can afford to freeze rents since they aren't paying a mortgage on the property until this thing is over. But banks would fight that tooth and nail because the short term loss in profits would negatively impact their shareholders.

Spain isn't the only country doing something like this. Canada is giving 2000 CAD to each citizen for I think four months.

 

[TarHeelMark]

Even me?

Yeah man, just back away from that elephant and think on it.

 

[tarheel0910]

. If this thing lasts three months then just defer those three months to the end of the loan. That way landlords can afford to freeze rents since they aren't paying a mortgage on the property until this thing is over. But banks would fight that tooth and nail because the short term loss in profits would negatively impact their shareholders.

Guess they lost a tooth and nail.

https://www.cnbc.com/2020/03/20/what-banks-are-doing-to-help-americans-affected-by-coronavirus.html

 

[uncboy10]

Guess they lost a tooth and nail.

https://www.cnbc.com/2020/03/20/what-banks-are-doing-to-help-americans-affected-by-coronavirus.html

That's completely different than what I'm talking about. Short term deferrals won't do any good for people who weren't earning income during the deferral period. If you can't pay your mortgage month by month over the next ninety days, how in the hell are you supposed to pay three months at once at the end of this thing? That's just silly. My suggestion was to move those months to the end of the mortgage without penalty, not just defer the payments for a few months. This is how banks make themselves look generous without changing the debt obligation at all. You still owe 90 days worth of payments at the end of the deferral period which does jack shit for most people.

https://www.businessinsider.com/per...ortgage-deferment-coronavirus-pandemic-2020-4

Interest will continue to accrue, and at the end of the 90-day deferment period, you'll have to pay the outstanding balance. It can be financially difficult to make up to 90 days' worth of payments at once, so Chase encourages you to continue making payments if you can.

 

[tarheel0910]

That's completely different than what I'm talking about. Short term deferrals won't do any good for people who weren't earning income during the deferral period. If you can't pay your mortgage month by month over the next ninety days, how in the hell are you supposed to pay three months at once at the end of this thing? That's just silly. My suggestion was to move those months to the end of the mortgage without penalty, not just defer the payments for a few months. This is how banks make themselves look generous without changing the debt obligation at all. You still owe 90 days worth of payments at the end of the deferral period which does jack shit for most people.

https://www.businessinsider.com/per...ortgage-deferment-coronavirus-pandemic-2020-4

Interest will continue to accrue, and at the end of the 90-day deferment period, you'll have to pay the outstanding balance. It can be financially difficult to make up to 90 days' worth of payments at once, so Chase encourages you to continue making payments if you can.

Just going to do the BofA since I work there.

• Will defer payments, with payments added to the end of the loan, for auto loans upon request
• Will defer payments, with payments added to the end of the loan, for mortgages and home equity lines of credit owned by Bank of America upon request

 

[uncboy10]

Just going to do the BofA since I work there.

• Will defer payments, with payments added to the end of the loan, for auto loans upon request
• Will defer payments, with payments added to the end of the loan, for mortgages and home equity lines of credit owned by Bank of America upon request

Good for BOA. Everyone else should follow suit.

 

[bluetoe]

Even me?

Even you.

 

[Hark_The_Sound_2010]

Canada is giving 2000 CAD to each citizen for I think four months.

There's gonna be people up in Nunavut that get those checks and say "gee thanks, but what the hell is Covid-19"?