Michael J. Perry, Lancaster, PA   Relo Specialist (KW Elite )

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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Unlikely anything will be done unless they are somehow required to help people. I find it "interesting" that tenants cannot be evicted for non-payment of rent YET the owner/mortgage holder is still required to make payment.  

This in NO WAY suggests I believe people should be evicted if/when they cannot pay rent due to loss of job/income from COVID-19. Many people need help. Where is the help for people who cannot pay their mortgage for the same reason? 

Apr 24, 2020 09:57 AM
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Roy Kelley
Retired - Gaithersburg, MD

Watch for the announcements.

Apr 24, 2020 09:56 AM
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Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I'd be surprised if they did

Apr 24, 2020 11:44 AM
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Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

I think it needs to depend on the situation.  Most lenders are working with people regardless of who backs the mortgage.

Apr 24, 2020 02:07 PM
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I'm not wasting any time guessing the future with all the great NAR, CAR, SDAR and Buffini & Company info reporting facts, figures and helpful tips in a play by play day by day.

Apr 24, 2020 12:35 PM
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Something is afoot and many routines, rules, regulations and procedures are being and will be.... re-written...Whatever takes place will help

Apr 24, 2020 11:46 AM
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Interesting thought Michael J. Perry . 

Apr 24, 2020 11:41 AM
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Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

That would require a new promissory note, and neg am is not allowed under today's laws for residential owner occupied, no.

Apr 24, 2020 02:46 PM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I wouldn't think so, Michael.

Apr 24, 2020 08:55 PM
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Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

No, I just see balance being added and loan timeline being extended.

Apr 24, 2020 03:50 PM
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Michael J. Perry most likely they will not incorporate negative amortization.

Apr 24, 2020 03:08 PM
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Anthony Kirlew
Group 46:10 Network @ eXp Realty - Gilbert, AZ
Helping You Make Fiscally Sound Choices

I would hope not. That type of lending contributed to the crash of 2008. I  was in lending at the time (2003 - 2008) and those were being pushed hard.

Apr 26, 2020 09:57 AM
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Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

Not. A. Chance.

Apr 25, 2020 07:27 PM
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Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

No.

Apr 25, 2020 12:04 PM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I would doubt it, but you never know!

Apr 25, 2020 05:55 AM
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Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

No I don't and I hope neg am will never come back. Mortgages are supposed to be paid back no matter what the situations are. If you can't pay it back, put it on the market and sell. Neg am will only put you in a worse situation than you are today. Sell now and when you are ready for ownership, buy again and start over

Apr 25, 2020 05:54 AM
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I hope they stick them to the rear of the loan. It is the easiest solution but easy is not easy with banks and or the govt

Apr 25, 2020 05:26 AM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I'd be surprised bt I am no mortgage expert. Who knows what will happen? I just had a Fannie Mae laon appraisal waived! A first!!

Apr 24, 2020 09:24 PM