Lets discussed the finalized stimulus proposal, known as the Heroes Act - Phase 4 Stimulus - and go over a few of the main takeaways that might apply to you. Enjoy! Add me on Instagram: GPStephan Click
READ THE FULL BILL HERE: https://docs.house.gov/billsthisweek/20200511/BILLS-116hr6800ih.pdf
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The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
STIMULUS CHECK:
Anyone making under $75,000 per year will receive ANOTHER $1200 Stimulus Check. As usual, for every $100 you make above this amount, your payout declines by $5. For MARRIED couples, that amount is doubled.
THE DIFFERENCE with this NEW proposal, however, is that EACH DEPENDENT is now eligible for an additional $1200 Stimulus Check, up to a maximum of 3 dependents. This INCLUDES college aged and adult dependents. That means, a married family with 3 dependents would receive a $6000 Stimulus Check under this new plan.
HOUSING - RENT:
This proposes that there will be an EVICTION FREEZE for 12 months based on nonpayment of rent. AFTER THAT, it’s a bit unclear how it’s written - but, it seems to be IMPLIED that the landlord must give an ADDITIONAL 30 days for the tenant to vacate the property. So, in total…that would give a tenant 13 months to live in the property before an eviction can be filed.
HOUSING - MORTGAGE:
You would be able eligible to receive up to 12 months of MORTGAGE FORBEARANCE. This applies AUTOMATICALLY if you fall behind on your payments. In terms of ESCROW ACCOUNTS - where a portion of your mortgage payment goes towards paying the property taxes and insurance, IF you’re in mortgage forbearance - your LENDER would PAY FOR THESE THINGS FOR YOU.
But what’s even more surprising is a clause in here called LOSS MITIGATION for escrow payments, which says the lender will - at their description, either allow you to defer those payments, or FORGIVE ESCROW ADVANCES. Which, is another word for saying - they’ll just pay your insurance and property taxes FOR YOU, and then NOT expect you to pay it back. All payments can be added to the end of the loan, with no adverse impact to your credit report and credit score.
UNEMPLOYMENT BENEFITS:
The $600 per week benefits would be extended all the way until January 31st, 2021. Other benefits include PREMIUM PAY to frontline workers - this would give an extra $13 per hour of PREMIUM PAY for work beginning on January 27th, and would last until 60 days AFTER the last day of the public health emergency. Capped at $10,000 for workers making under $200,000 per year, and above that, the cap is $5000.
STUDENT LOAN FORGIVENESS:
As written, The Secretary Of Treasury shall, for each borrower of a private education loan, pay the total amount due for such month on the loan, based on the payment plan selected by the borrower or the borrower’s loan status. The MAXIMUM amount of aggregate payments with respect to an individual is $10,000.
SALT CAP DEDUCTION:
THIS bill wants to OPEN THIS DEDUCTION back up again, and allow there to be NO LIMITS on this SALT deduction for the next 2 years, until 2022.
NOW…do remember that, even though this is much more polished, in depth, and FINALIZED proposal…it’s still just that, a PROPOSAL. And IF this passes on Friday, it goes to the Senate…who will then have to pick this apart and vote on it for this to go into effect. So, I think we’re still another few months away from anything happening…but, at the very least, progress IS being made…even though it’s happening slower than a snail gliding through the dessert.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
READ THE FULL BILL HERE: https://docs.house.gov/billsthisweek/20200511/BILLS-116hr6800ih.pdf
Get 2 FREE STOCKS ON WEBULL when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main
JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
STIMULUS CHECK:
Anyone making under $75,000 per year will receive ANOTHER $1200 Stimulus Check. As usual, for every $100 you make above this amount, your payout declines by $5. For MARRIED couples, that amount is doubled.
THE DIFFERENCE with this NEW proposal, however, is that EACH DEPENDENT is now eligible for an additional $1200 Stimulus Check, up to a maximum of 3 dependents. This INCLUDES college aged and adult dependents. That means, a married family with 3 dependents would receive a $6000 Stimulus Check under this new plan.
HOUSING - RENT:
This proposes that there will be an EVICTION FREEZE for 12 months based on nonpayment of rent. AFTER THAT, it’s a bit unclear how it’s written - but, it seems to be IMPLIED that the landlord must give an ADDITIONAL 30 days for the tenant to vacate the property. So, in total…that would give a tenant 13 months to live in the property before an eviction can be filed.
HOUSING - MORTGAGE:
You would be able eligible to receive up to 12 months of MORTGAGE FORBEARANCE. This applies AUTOMATICALLY if you fall behind on your payments. In terms of ESCROW ACCOUNTS - where a portion of your mortgage payment goes towards paying the property taxes and insurance, IF you’re in mortgage forbearance - your LENDER would PAY FOR THESE THINGS FOR YOU.
But what’s even more surprising is a clause in here called LOSS MITIGATION for escrow payments, which says the lender will - at their description, either allow you to defer those payments, or FORGIVE ESCROW ADVANCES. Which, is another word for saying - they’ll just pay your insurance and property taxes FOR YOU, and then NOT expect you to pay it back. All payments can be added to the end of the loan, with no adverse impact to your credit report and credit score.
UNEMPLOYMENT BENEFITS:
The $600 per week benefits would be extended all the way until January 31st, 2021. Other benefits include PREMIUM PAY to frontline workers - this would give an extra $13 per hour of PREMIUM PAY for work beginning on January 27th, and would last until 60 days AFTER the last day of the public health emergency. Capped at $10,000 for workers making under $200,000 per year, and above that, the cap is $5000.
STUDENT LOAN FORGIVENESS:
As written, The Secretary Of Treasury shall, for each borrower of a private education loan, pay the total amount due for such month on the loan, based on the payment plan selected by the borrower or the borrower’s loan status. The MAXIMUM amount of aggregate payments with respect to an individual is $10,000.
SALT CAP DEDUCTION:
THIS bill wants to OPEN THIS DEDUCTION back up again, and allow there to be NO LIMITS on this SALT deduction for the next 2 years, until 2022.
NOW…do remember that, even though this is much more polished, in depth, and FINALIZED proposal…it’s still just that, a PROPOSAL. And IF this passes on Friday, it goes to the Senate…who will then have to pick this apart and vote on it for this to go into effect. So, I think we’re still another few months away from anything happening…but, at the very least, progress IS being made…even though it’s happening slower than a snail gliding through the dessert.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Nice video as always but here is my problem I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market… can anyone help me out or at least advise me on what to do
When you made the Lord of the Rings joke I lost it 😂
Hey Graham I have been opening the promotion link and the link doesn't work, been trying all but no success, and I want to invest the stimulus income, but the link is not working. Please send a link to sign up directly or in the comments. Thanks! 🙏🖥📈📊😎✌
Mark Taylor prophecies
OMG Mitch just had a press conference confirming what I told everybody 3 days ago! He admitted he hadn't been to the WH since August 6th () and when he called Trump once Trump was back in the White House Mitch told Trump "you're 16 points behind and in Quarantine for 2 weeks" you're going to lose big and we are done with you. we are going to try to save the senate. We aren't giving away any more money to poor people, that's not what our rich donors want! @NDSc
HE IS THE MANN!!! I've taken all of his advise, jumped out of my comfort zone and now I'm on target to make a million. I've even just created a YouTube channel to follow my progress.
I would love some support/feedback. So please hit subscribe and check it out. Peace
Why don't you let them know the peoples are the one who voted and for them to get the job done
I 💓 graham
Hey Graham do you have a email I can contact you? I have some questions about Vanguard.
Hello Graham, QUESTION; What do you get if you JOIN your site dor $45 USD a Month?
What perks are included ?
Thank You
Will ssd and ssi get this 2000.00amonth for 6months deal ?
Do a quick google search for ECOM BAZZOID someone posted your courses Graham
Do a quick google search for ECOM BAZZOID someone posted your courses Graham
Hi everyone, I live in the state of Nevada. And as of a month ago I still needed help with my credit score. I had nowhere to turn to, My credit score was 569, I wanted it a little higher and probably my old accounts deleted although most of them I had no idea why they were there because I never opened accounts with credit card. I went on internet to search for help and I found the credit expertise in Sam Hacks technolgy LLC cause I saw someone recommend them ASAP. We got started with the process with some few questions and a little display of competency as a proof of legitimacy. The good news is that he did all he said he will do (deleted the accounts, erased all the inquiries and eventually raised my score to a 805 excellent score. REACH out to him if you need your credit fixed and restored and you'll definitely thank me later SAMHACKSTECHNOLOGY▪NET
Got mine up from 527 to 820 in less than 16 business days!!! LITERALLY squealed and jumped up and down when I checked it! Credit is one of the most important things of being an adult to learn in life and I’m grateful to Mr Sam SAMHACKSTECHNOLOGY☯NET who helped me.. please please teach your children from a young age about credit and financial responsibility. Though many adults are not even educated sufficiently on credit and finances.. which is why every school should have a mandatory credit/money management class given to all students. So very important for our youthful start out with good habits.
thought it was scam when i first meet Samhackstechnology◼net he got my credit card and funded it
I thought it was 10k on the last video
Quarantine boring? My content will change that!
You would starve as a comedian.
Wanna be friends?
No we get 2000 nothing less no if, no but but 2000
Wow
Speaking of salt, did you know that the word "salary" is derived from the word "salt"?