Rent Is Due, Know What To Do

Today’s News Synopsis:

Inman’s state by state guide on evictions, rents, and foreclosures.  The latest mortgage applications survey from the Mortgage Bankers Association showed a surprising increase in mortgage applications, up 15.3% from last week.  Title companies are getting creative with the way they are holding closings all while maintaining social distancing.

In The News:

Inman “Inman’s state-by-state guide to evictions, rent, and foreclosures” (4-1-2020)

“Rent and mortgage payments are due. Different states have different strategies for people who can’t pay during the pandemic. We’re updating this post as the situation evolves.”

Mortgage Bankers Association “Mortgage Applications Increase in Latest MBA Weekly Survey” (4-1-2020)

“Mortgage applications increased 15.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 27, 2020.”

Forbes “From Curb Service To Porch Signings, Title Companies Get Creative With Social Distancing Options For Closings” (4-1-2020)

“As the impact of the coronavirus pandemic continues to turn the real estate market on its head, curbside and remote mortgage closings have become a logical extension of signing loan documents and distributing money at the office of a title company or escrow office.”

Freddie Mac “Selling Guidance related to COVID-19” (4-1-2020)

“We continue to work closely with Fannie Mae under the guidance of the FHFA to address the ongoing economic implications and uncertainty related to the coronavirus disease (COVID-19) pandemic and its impacts on Borrowers and the Mortgage origination process.”

CNBC “Chief regulator says mortgage bailout is ‘on the honor system’, pleads with borrowers to be honest” (4-1-2020)

“Millions of borrowers may be unable to pay their mortgages as the coronavirus continues to crush the U.S. economy. But there is a government back-up plan.”

 

California Real Estate Investor Events

ALERT: Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With Inland Gateway Association of Realtors on Thursday, April 9 (ONLINE ONLY).

ALERT: Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Pasadena FIBI on Thursday, April 16 (ONLINE ONLY).

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.

 

Looking Back:

Almost 5 million could save money on their mortgages.  How did people in the real estate industry celebrate April Fools’ Day?  A new bill was passed by the House Committee on this day that was supposed to bring an end to homelessness.

 

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