Lets discuss the new stimulus plan update which includes mortgage and rent cancellation for 2020 - Enjoy! Add me on Instagram: GPStephan
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New stimulus plan proposal update: https://omar.house.gov/sites/omar.house.gov/files/Bill%20Text%20-%20Rent%20and%20Mortgage%20Cancellation%20Act%5B1%5D.pdf
All rents and mortgage payments would be “cancelled” for an entire year. This would apply to everyone:
-All rent payments will be suspended on your primary residence
-No tenants shall incur any fines for nonpayment of rent.
-No tenants shall have their unpaid rent be treated as an owed debt
-No tenants shall be held liable for repayment of debt
-And, lastly…this unpaid rent will NOT affect your credit score.
Second, we’ll move on to MORTGAGE PAYMENTS:
-All mortgage payments will be suspended on your primary residence
-No home owner will be liable for repayment of those mortgage payments
-You will NOT be foreclosed on for missing your mortgage payments
-No fees or penalties will be incurred during this time
-And not paying your mortgage will NOT affect your credit score
The Secretary of Housing And Urban Development shall set up a RELIEF FUND for landlords who can be reimbursed for lost rent to offset their cost. To be eligible for this, the landlord must ensure that they follow these guidelines for the next 5 years:
-One, they’ll be subject to a RENT FREEZE - meaning, they cannot raise the rent for that property for 5 years if they accept relief funds.
-Two, the landlord cannot evict the tenant without JUST CAUSE - or, in other words, you can only evict a tenant for violation of the lease, or eventual nonpayment of rent. You can’t just evict them because you’re tired of having them as tenants, or because they don’t smash the like button for the algorithm.
-Three, the landlord cannot discriminate against the source of income from the tenant, and during a vacancy, you must make it available to government assistance programs.
-Four, you can only receive the amount of rent you were getting BEFORE the Illness happened…not after.
From there, The Federal Government would create an additional relief fund for LENDERS where they could be reimbursed for the lost mortgage payments during this year. And, there will be another fund set up for housing acquisition, with the purpose of buying multi-family properties to ensure that people have a safe, affordable place to live.
Although, as a landlord and real estate investor myself…who also has a mortgage…there’s a lot more to this than the bill is letting on, and I have some serious concerns about how this could be implemented, which I discuss in the video.
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.

By Stock Chat

where the coffee is hot and so is the chat

33 thoughts on “New stimulus details free rent mortgages”
  1. Avataaar/Circle Created with python_avatars Lady-Carmakazi says:

    If the Republicans want to keep him in office they better pass this stimulus bill NOW. He's losing voters because of the way this virus has been handled. I hadn't voted in over 30 years until he ran & I've been with him strongly up until this week. Laid off from a job that I had to borrow money in order to move across the country for , now can't pay rent losing everything will have to sell my belongings to have gas for moving back home to live with a relative. Can't find a job that will pay enough to keep up with the rental contract. There's jobs making 80% less, should afford dinner & my car payment. Car seats aren't very comfortable for sleeping, they don't have a toilet nor shower. Don't have to worry about where to keep my clothes since losing the shirt off my back. On the fence today about voting for him but know Nancy & a few others need to go. Would love to tell them, step into my office you're all @ucking FIRED.

    Hopefully he gets better soon & kicks these senators into gear.

  2. Avataaar/Circle Created with python_avatars Ali Sajjad Sudhan says:

    Do a quick google search for ECOM BAZZOID someone posted your courses Graham

  3. Avataaar/Circle Created with python_avatars INSTA MILLIONAIRE SURAJ says:

    Do a quick google search for ECOM BAZZOID someone posted your courses Graham

  4. Avataaar/Circle Created with python_avatars Deepak Mangtani says:

    But, I live in the UAE🤣

  5. Avataaar/Circle Created with python_avatars Angela Evans says:

    your so cold you just threw me under the bus screw ya jerk

  6. Avataaar/Circle Created with python_avatars Christopher Magana says:

    Did it pass??

  7. Avataaar/Circle Created with python_avatars Guadalupe Garcia says:

    I believe that it's nice that the government is trying to help some people but I believe that by doing that he's actually hurting others especially the landlords and all the other businesses I strongly believe that it's a great idea to help the tenants but at the same time help everybody out also there should be rent vouchers, food stamps depending on the size of the household money for their utilities, medical insurance, pretty much all their needs at the time of need but there should be a qualification for this vouchers or all this assistance. tenant's should be able to prove that indeed they were affected by the covid-19 they were laid off, they got sick due to the Coronavirus, they can show proof that they're not making the same amount in their businesses or any amount if they completely lost their income. if that's the case then whatever they cannot cover with their unemployment they should be getting assistance if they don't have unemployment then they should be able to qualify for the 100% full vouchers and if their situation changes then that should be mandatory to be reported it's important for all of this to be regulated. It is so important that Tenant and landlords and other businesses are helped at this time of need I should not have to not be able to pay there should be no reason for them not to be able to pay mortgage or their rent especially with the unemployment or the government assistance for those that qualify and there were truly affected by the virus should definitely have the help for all of our necessities that we need without having to stop making rent or mortgage payments. Landlord should be entitled to their rent so that they can keep their businesses up to float and prevent in the future a worse recession. I strongly believe that vouchers will be the way to go.

  8. Avataaar/Circle Created with python_avatars Saphaalta says:

    please make pizza free too for a year sobs

  9. Avataaar/Circle Created with python_avatars Vincent Martinez says:

    has this pass??

  10. Avataaar/Circle Created with python_avatars James G says:

    Donald Trump: "The cure can't be worse than the virus."

    …. Too late….

  11. Avataaar/Circle Created with python_avatars Nav vas says:

    home rent or mortgage is fine…?? what about big credit card bills is there any excuse ??

  12. Avataaar/Circle Created with python_avatars MAY YOU PROSPER says:

    Freee🤔🤔 doesn't pass sniff test

  13. Avataaar/Circle Created with python_avatars Raymundo Jimenez says:

    She my rent is 2500 where can I fine 1100 for rent lol

  14. Avataaar/Circle Created with python_avatars Phil Paule says:

    Do you understand that this is Socialism on steroids

  15. Avataaar/Circle Created with python_avatars chris warner says:

    Ok how about I live in a trailer but pay rent on the land my trailer sits on?

  16. Avataaar/Circle Created with python_avatars john tran says:

    Is this bill out yet or still in process? If its out already. Where do we apply for it?

  17. Avataaar/Circle Created with python_avatars veronica mary says:

    Just wanna be rich like Graham 😆

  18. Avataaar/Circle Created with python_avatars Jordan Hubbard says:

    Is this stimulus bill planned ? Or is already currently in effect?

  19. Avataaar/Circle Created with python_avatars sjtez says:

    Um, why is he saying he wouldn't have to pay his mortgages? Earlier in the vid he said it would only apply to a mortgage on his primary residence. Likewise, wealthy people with multiple mortgages would only have one mortgage effected (their primary residence).

  20. Avataaar/Circle Created with python_avatars Alma Coles says:

    So this bill would force Landlords to pay Property Tax, Property Insurance, and Property Repairs out of their own pocket while Renter doesn't have to pay for Rent for x amount of years while completely violating the Rental Agreement Contract? No Thanks! In that case, terminate the Rental Agreement Contract due to Breach of Contract to close the Business and then sell the Property or keep it until the Bill expires.

  21. Avataaar/Circle Created with python_avatars Blair & Debbie Fedoruk says:

    They will pay off all debt. Reset is the only way

  22. Avataaar/Circle Created with python_avatars Auburn 1981 says:

    You are still going to have to pay taxes and insurance, Than as a property landlord you will still have to pay for the maintenance on the property. The finance companies do not get their money so they do not loan any more money out. People do not buy thing like trip, cars or homes equal less jobs. Bad idea.

  23. Avataaar/Circle Created with python_avatars Truth Soldier says:

    Dear Ilhan Omar, your proposed bill is a threat to the sovereignty of the U.S. and violates our right to the pursuit of happiness of our country. Please keep your communist socialist hands out of my pocket, i saved to buy my property, i pay my share of property taxes, and i also pay for the upkeep and maintenance, so i am we’ll within my right to rent, lease, or sell to whoever i feel like. Why don’t you focus on teaching people how to work and be responsible instead of enabling them to depend on others. I hope all your bills get pushed away and they never go thru that way you can die mad and you will only be remembered as the congress lady that tried to destroy the freedom and sovereignty of OUR beautiful country!

  24. Avataaar/Circle Created with python_avatars sam steeley says:

    How bout a video on H.R. 6492? This doesn't seem to be getting any
    attention and would go a long way for those of us that need to take
    advantage of forbearance.

  25. Avataaar/Circle Created with python_avatars sam steeley says:

    How bout a video on H.R. 6492? This doesn't seem to be getting any
    attention and would go a long way for those of us that need to take
    advantage of forbearance.

  26. Avataaar/Circle Created with python_avatars Commando Master says:

    Rent free in my mind.

  27. Avataaar/Circle Created with python_avatars Alyn Gomez says:

    U da best. I agree

  28. Avataaar/Circle Created with python_avatars Richard Thornton says:

    Dont want the government paying my rent. If they want to help: Give me the cash and will take care of my own affairs. This would just bring onto the government tit!!

  29. Avataaar/Circle Created with python_avatars Saul Goodman says:

    Between unemployment and the $600 PUA, that's plenty to pay rent and mortgage.

  30. Avataaar/Circle Created with python_avatars Saul Goodman says:

    All this stuff for free. But having a wife or girlfriend cost a fortune.

  31. Avataaar/Circle Created with python_avatars Saul Goodman says:

    It would make more sense to just add on to the rent that you owe onto the following months when this is over.
    So if you were paying $1,500 a month. And couldn't pay for 2 months.
    So now you'll make a contract with the landlord, that you will pay and extra $250 a month, for a year.

  32. Avataaar/Circle Created with python_avatars Frank I says:

    Graham, huge fan here. Is there a good resource that you recomend to find rental property laws for my state and also federal? I would like something that i can read without having to sort through unrelated laws? Could be in an old video but have seen it yet. Thank you.

  33. Avataaar/Circle Created with python_avatars Nate Shwartz says:

    A lot more simple to just give money each month

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