Biden Extends Mortgage Holiday, Income Up/Expenses Down...Maybe There Is A FREE LUNCH?

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Biden Extends Mortgage Holiday, Income Up/Expenses Down...Maybe There Is A FREE LUNCH?

Рет қаралды 4,950

3 жыл бұрын

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@JacksonTaylorandTheSinners 3 жыл бұрын

Our business was force to shut down and we haven’t seen a f’ing cent from the government, we’ve had to move from Denver to Arkansas and re-invent our business. Our income is down 90%. Oh, well we will come through this leaner and more educated and skilled. Diversify your skill set folks. What a insane time to be alive.

@thereignofthezero225 3 жыл бұрын

Lots of people being pushed out of Colorado. I may also be one of them someday

@JacksonTaylorandTheSinners 3 жыл бұрын

@@thereignofthezero225 we loved it! Lived in Highlands Ranch for over a decade. We got our bearings back and had the time to pivot in Arkansas over the last 10 months. Looking at moving to Grand Junction in June. The leftist hoard have done to Northwest Arkansas in 8 months what it took then 8 years to do to Denver. It’s astounding how quick California’s have swarmed here and are changing NWA. Home prices have doubled in 6 months, traffic has exploded and there are beggars on every corner. Last June this was another world entirely.

@thereignofthezero225 3 жыл бұрын

@@JacksonTaylorandTheSinners thats insane. The exponential rate of expansion is mind blowing. I live up in conifer, so only about 30 mins from where you were. Im sure youre familiar. Have you visited staunton state park? Grand jct would be pretty cool

@JacksonTaylorandTheSinners 3 жыл бұрын

@@thereignofthezero225 our band has played the big country club there a few times. Haven’t spent more than a night there at a time, but we really liked it. Last time we drove up 25 through Denver was in July. I counted 56 cranes just on the west side of 25 down town in about a two mile stench. There was twice that on the east side of 25. It’s like Texas. It’s growing so fast it makes your head spin.

@UltimateBargains 3 жыл бұрын

There is no moratorium on paying property taxes.

@fmtnic 3 жыл бұрын

I think the article is saying that 70% of mortgages are eligible for the program.

@vivica8207 3 жыл бұрын

That's what I thought too. 70% qualify, but are not necessarily taking the forbearance.

@mutantryeff 3 жыл бұрын

When everything is "free" then nothing has value.

@void__star 3 жыл бұрын

Free stuff still has value (just as the sun and water have value). Price doesn't drive value, although some people do get tricked into thinking it does.

@mutantryeff 3 жыл бұрын

When they finally default on the loans, in CACAfornia the government has 1st rights to purchase the property.

@CatsLivesMattter 3 жыл бұрын

That is how they will implement the 'you will own nothing and rent everything' part. That and debt 'pardon'.

@ADAMREES-GRITGYM 3 жыл бұрын

It could be the government’s way of taking your home. If you’re loan is enough greater than the value they can repossess it

@EZHick1 3 жыл бұрын

Exactly. Have people that can pay their mortgage put that money in the stock market. The bubble pops and now they cannot make the big payment due. All part of Klaus’s utopia of owning nothing and liking it.

@thereignofthezero225 3 жыл бұрын

Good. Let them fail and let property prices fall so that i can buy

@ramjamflimflam 3 жыл бұрын

I never lost my job. Kept paying my rent, bills and groceries continue to rise. Spend $350- 400 wk , this time last year was $250-300 wk. utility bills going up. This is really gonna be fun!!

@BubbleMania5678 3 жыл бұрын

“Making Inflation Great Again”

@UltimateBargains 3 жыл бұрын

We are "down payment bound". Wages are not increasing fast enough relative to prices for people to accumulate 20% down payment. The govt will skew the mortgage market to low/no down payment loans.

@paulwebb2390 3 жыл бұрын

This is how they will get those fence-sitters to get the jab. Forgiveness of debt.

@carmangeek8882 3 жыл бұрын

Private property rights are being curtailed. Why should anyone not have to pay on the loan they took out. Another step towards total depravity.

@RandyBrady2024 3 жыл бұрын

Hello I'm from the government and I'm here to help you.

@DissonantShadow 3 жыл бұрын

I will be paying off my rentals as I'm able. This system is being propped up so that it can be collapsed.

@ebeaulieu813 3 жыл бұрын

Seriously how did the government cook the books/statistics that incomes increased when unemployment is way up and businesses have gone under? No don't tell me a lame $600.00 stimi last year or a lame $1,200.00 check this year? That's BS

@ebeaulieu813 3 жыл бұрын

@@daniilsolovyov2178 Personally I don't believe anything out of the Government or News Media anymore, I'll start searching for where's the truth or close. Common sense, basic economics the gov only income is taxes so what do they do shut down business, travel, etc. Now I am waiting to see the Green Jobs and training Biden promised.

@jojog79 3 жыл бұрын

When I go to Target I should tell them I demand a moratorium on paying them for the goods I pick up that day... Why don't we view this nonsense as what it is NONSENSE

@johnyoungieyoung123 3 жыл бұрын

No need, you can steal goods less than $950 and it's only a misdemeanor

@thereignofthezero225 3 жыл бұрын

@@johnyoungieyoung123 i got busted there once haha

@johnyoungieyoung123 3 жыл бұрын

@@thereignofthezero225 more than $950?

@thereignofthezero225 3 жыл бұрын

@@johnyoungieyoung123 nah. That was the last time i ever got in trouble though. 20 years ago. I guess im on a long lucky streak now haha

@johnyoungieyoung123 3 жыл бұрын

@@thereignofthezero225 keep it below $950 and you'll be fine. Pick me up a bottle of Seagrams please.

@wertzui19871229 3 жыл бұрын

See, George you coming around :D MMT is going to be great!

@kanewootton7399 3 жыл бұрын

Keep up these great videos George

@jeffersonblackmon 3 жыл бұрын

The stimis' will not be enough to catch people up on rent or mortgages - unemployment surely won't. This is going to be Insane.

@raym1705 3 жыл бұрын

George, Note that this mortgage forbearance does not need to support hardship evidence to qualify for that. I know a couple of people requested that and used the mortgage payment money in the stock market and got great returns. I think this is one of the reason the stock prices are shooting up to sky. Wonder if the government going to block this loophole?

@westcoaststacker569 3 жыл бұрын

Their encouraging it, the Government wants all money into the stock market as a symbol of a strong economy. Why interest rates are so low, bonds and saving accounts are no better than cash. Home mortgage rates keep declining so that people will take equity out of their homes and gamble it. Wife wants to refinance at these rates, I told her today wait they will get even lower once this round exhaust itself. We are headed to negative rates, read (Bloomberg) today Yellen is not playing ball with Powell and wants to move treasury funds out of the Fed which will have a downward pressure on money market rates, "may make them go negative"

@ccjelley2390 3 жыл бұрын

Klaus said back in June zat zeeze vud be disruptive times

@ADAMREES-GRITGYM 3 жыл бұрын

When do you just say screw it and play the hand you’re delt

@grinderswitch9107 3 жыл бұрын

George, I work in mortgage servicing and we have people who were 6 months delinquent when covid started and they are still allowed to extend covid forbearance. They’re well over a year delinquent and still have several months of forbearance to go.

@grinderswitch9107 3 жыл бұрын

On top of that we will likely modify their mortgage and buy them even more time. Again, they couldn’t even pay before the quarantine!

@danielbarnett6859 3 жыл бұрын

Hay george where's your old man glasses? Lol 😂

@uptoyouThailand 3 жыл бұрын

I’ve been saying 70% of mortgages are in forbearance since I saw this last week and that’s wrong. Now I see it’s 70% of mortgages are eligible for forbearance, but only 5-6% are actually in forbearance. I feel like an idiot.

@bubblyinvestor5966 3 жыл бұрын

People are trapped. They can do nothing except rely on government support.

@Paul-ci4yt 3 жыл бұрын

They really are not going to stop are they. 😳

@James-kd1kp 3 жыл бұрын

Nope, it's the Controlled Demolition of the American Empire.

@vivica8207 3 жыл бұрын

I'm not sure they really have an option at this point

@daveforgot127 3 жыл бұрын

This is a real good piece of information. I'm glad you kept it relatively short and you made it relevant unlike some of your topics recently that are just repeating themselves because you seem to be obsessed with having to do a show when there's no new news

@shawnhanover5933 3 жыл бұрын

What happens with escrow and property taxes? Last year my taxes went up 40% or $15000. Quicken loans paid and gave me an interest free loan for a year on the past escrow shortage. What happens when ppl don't pay their taxes? Mortgage companies will pay?

@westcoaststacker569 3 жыл бұрын

If the State forecloses it saves the bank the cost, then the bank pays the taxes and keeps the property.

@kirkclements4893 3 жыл бұрын

Are there any Residential Mortgage securities (that the Fed has not bought) that are not making their interest payments in full to the owners of those securities???

@BatmanBoss 3 жыл бұрын

Foreverbearance

@maryg4344 3 жыл бұрын

Not fair to people like me that have paid off their mortgage. On fixed income with rising food and utility prices.

@johnyoungieyoung123 3 жыл бұрын

I want more "Stimmy" and more Heroin Guy please George!!!!!

@karenreddy 3 жыл бұрын

George, what was the mean increase in income? It's important to understand the distribution. Sure the aggregate number may be high, but it doesn't necessarily mean that increase has made its way to the people who need it. Knowing government efficiency, I doubt it has.

@NV-uv3yz 3 жыл бұрын

Thought came to my mind George and I wondered what you might make of it... During forbearance, could the home owner then still make payments directly to the principal without worrying about interest payments during that time? Would that work? So at that point you could have an interest free mortgage for a year?

@frenlyfire 3 жыл бұрын

no inflation

@tinlidtoo6615 3 жыл бұрын

Have the banks agreed to tack these missing months on the end of your loan or are they going to be looking to increase your monthly payment substantially or God forbid a massive single payment???

@bigqueue 3 жыл бұрын

Hey george, we all like free market capitalism but just like when you played blackjack you have to play the hand your dealt. So really what we have to do is look down on our feet and say where we are and look around us and see what direction we can even moving. that's how we have to handle our investments now, it may not be the way we want to see things, but we have to play in the environment we are dealt.

@youtubeuni 3 жыл бұрын

Im struggling financially because taking welfare from the government is against my principles. (#positive virtue signal)

@youtubeuni 3 жыл бұрын

@Kevin Schmidt Inflation is a tax so I suppose I have. If you are talking about income tax, no. On paper my business breaks even every year...

@youtubeuni 3 жыл бұрын

@Kevin Schmidt I MEAN WHY YES!! I PAY TAXES HAHAHA WHAT? I PAY MORE TAXES THAN I HAVE TO. I WISH I COULD PAY EVEN MORE!

@deedawg8229 3 жыл бұрын

Who's income has increased that much? Gimme that application.

@charlesrob3969 3 жыл бұрын

Buckle up. This road might get messy.

@BrawB1776 3 жыл бұрын

I still haven't received my stimmy check.☹

@Matt-nf7ss 3 жыл бұрын

3 Simple Steps... Problem, Stimmys, until... FedCoin

@frozesolid3773 3 жыл бұрын

Livin' it up like it's 2027!

@neogeo8267 3 жыл бұрын

Bastiat (seen vs unseen)

@samntiros6883 3 жыл бұрын

Great video ... but George, a lot of the middle class is not receiving stimmies and have lost their jobs, have had their salaries reduced, or are just trying to navigate through higher prices. These, which number in the millions, are suffering.

@squarecracker 3 жыл бұрын

yeah I lost my job in 208 and couldn't find anything besides a mcjob LOL. I don't get any stimulus.

@kevinglick8671 3 жыл бұрын

Buy a house this month, next month go on Forbearance......

@BrawB1776 3 жыл бұрын

Aslong as the Fed keeps stimulating me i'm good i think.