Mortgage Cancellation Act of 2020
Have a read on this article here and give me your thoughts, I myself am going to have to re-read it again to fully understand what it entails and how it fully impacts us, were it to get pushed through.
https://www.fool.com/millionac...
Excerpt of the article:
Talk over the second round of stimulus is underway with three proposed policies on the table at the present time, one of which would have a big impact on homeowners, tenants, landlords, and real estate investors everywhere: The Rent and Mortgage Cancellation Act of 2020.
This bill, sponsored by Representative Ilhan Omar, D-M.N., would eliminate rental and mortgage payments on any primary residence for the duration of the national emergency, allowing landlords and lenders to recoup losses by applying to a relief fund, but there are stipulations.
Let's look at what the act proposes and how it would work and see how it would affect real estate investors.