Mandatory Deferment of Mortgage, Rent, Utility Payments - until Safe from Covid-19
Mandatory Deferment of Mortgage, Rent, Utility Payments - until Safe from Covid-19
The Issue
Yesterday, Gov. Gavin Newsom ordered a moratorium on foreclosures and evictions - while this is a great layer of protection for our communities, more must happen to ensure the people are protected. Many of us with no work at home option only have the option to now stay safe, alive, and try to come up with alternate revenue streams. We are your service professionals. We keep you fit, inspired, entertained, served, fed, rehabilitated and so much more. Your secretary, your bank teller, your local retail store, the hardware store down the street, your clothing store, your nanny, your housekeeper, your handyman, your assisted care professional, factory workers, technicians, mechanics, manufacturing and so much more.
In past times of crisis, my bank offered to defer mortgage payment or two without harming my credit - they simply added it to the end of the loan. Why can't we do this now and echo through other basic needs channels? Why should people be penalized with late fees and interest and harm to their credit - for what? Just because financial and utility companies can do these things, does not mean they should.
Our ability to attain anything in this country is based on credit. Not only will it be bad for the economy and the potential spread of disease to render people without their basic living needs, but then to potentially ruin their credit and render them unable to recover from this unprecedented Covid-19 spread. Why ruin more lives?
If the Government is asking us to take pause, then all things should take pause - including the stress of rent, house payment, and utility payments that without earnings will take time to pay.
One only need a little research to see how many times the US Government has bailed out industry and banks. Landlords, it's in your best interest to keep your current renters in place or suffer the hassle of vacancy and potentially people leaving your local area to pursue kinder gentler communities - leaving you with a dismal pool of interested or qualified renters. Think about it.
It is time now for a bailout of the people.
for more on bank and other bailouts:
(https://www.investopedia.com/articles/economics/08/government-financial-bailout.asp
https://www.thebalance.com/what-was-the-bank-bailout-bill-3305675
Gov. Newsome Latest:
1,032
The Issue
Yesterday, Gov. Gavin Newsom ordered a moratorium on foreclosures and evictions - while this is a great layer of protection for our communities, more must happen to ensure the people are protected. Many of us with no work at home option only have the option to now stay safe, alive, and try to come up with alternate revenue streams. We are your service professionals. We keep you fit, inspired, entertained, served, fed, rehabilitated and so much more. Your secretary, your bank teller, your local retail store, the hardware store down the street, your clothing store, your nanny, your housekeeper, your handyman, your assisted care professional, factory workers, technicians, mechanics, manufacturing and so much more.
In past times of crisis, my bank offered to defer mortgage payment or two without harming my credit - they simply added it to the end of the loan. Why can't we do this now and echo through other basic needs channels? Why should people be penalized with late fees and interest and harm to their credit - for what? Just because financial and utility companies can do these things, does not mean they should.
Our ability to attain anything in this country is based on credit. Not only will it be bad for the economy and the potential spread of disease to render people without their basic living needs, but then to potentially ruin their credit and render them unable to recover from this unprecedented Covid-19 spread. Why ruin more lives?
If the Government is asking us to take pause, then all things should take pause - including the stress of rent, house payment, and utility payments that without earnings will take time to pay.
One only need a little research to see how many times the US Government has bailed out industry and banks. Landlords, it's in your best interest to keep your current renters in place or suffer the hassle of vacancy and potentially people leaving your local area to pursue kinder gentler communities - leaving you with a dismal pool of interested or qualified renters. Think about it.
It is time now for a bailout of the people.
for more on bank and other bailouts:
(https://www.investopedia.com/articles/economics/08/government-financial-bailout.asp
https://www.thebalance.com/what-was-the-bank-bailout-bill-3305675
Gov. Newsome Latest:
1,032
The Decision Makers
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Petition created on March 17, 2020