aBiden Time Until Landlords and Lenders can Recover their Properties
https://therealdeal.com/2020/10/13/mortgage-delinquencies-jumped-to-highest-rate-in-20-years/ This article from October of last year is still one of the best (and shortest) analyses of how in the world so many mortgage loans in America can be delinquent and the real estate economy is still booming. Those that were involved in navigating real estate buying, selling and investing in 2008 will remember with some uneasiness a time when the delinquency rate went sky high but lenders were overwhelmed to the point that the time required to complete a transaction was doubling even in the midst of better technology. Lenders, banks, and other real estate institutions were overwhelmed and initially indecisive. Don’t expect indecision this time! The moratorium on foreclosing government backed loans will eventually expire. Joe Biden implemented an executive order on his first day in office extending the moratorium until the end of March 2021.
We fully intend to be here and to be a resource for those who need to : (1) short sale a real estate property; (2) foreclose a delinquent loan; or (3) suffering some other hardship as a result of the Pandemic or the moratoria that have, in many cases, shifted the burden of the Pandemic onto Landlords and Lenders.