Current & RELEVENT Market Updates In San Diego…

EVICTION EXTENSIONS COULD HAVE HOMEOWNERS WITH NONPAYING TENANTS EVEN MORE STRESSED!

The Likelihood of Homeowner’s bearing the financial distress of Non-Paying Tenants is surmounting across California forcing Homeowners to either pay out of pocket for their mortgages or Sell Their Homes Quickly, relieving their financial stress month to month!
The Biden administration is extending a federal moratorium on evictions of
tenants who have fallen behind on rent during the coronavirus pandemic.
No Foreclosures or Evictions – The moratorium is now extended through the end of June.
The moratorium on foreclosures and evictions for federally-backed mortgages
runs through June 30, 2021. Landlords cannot evict renters during any period in
which they are granted forbearance.

DO YOUR TENANT QUALIFY FOR RENT FORBEARANCE?

To be eligible for protection, renters must earn $198,000 or less for couples filing
jointly, or $99,000 for single filers; demonstrate that they’ve sought government help to pay the rent; declare that they can’t pay because of COVID hardships, and affirm they are likely to become homeless if evicted.

Full Story Here

As A HOMEOWNER, WHAT DOES THIS MEAN FOR YOU?

What about mortgage relief & foreclosure protection?

• Mortgage relief Foreclosure protection is available through the federal
Coronavirus Aid, Relief and Economic Security (CARES) Act for homeowners or
small landlords who have federally-backed mortgages. Those who do not have
federally-backed loans can contact their loan servicers to request forbearance.

To Apply check out this link.
The last date to apply for mortgage forbearance is June 30, 2021.

KEY TAKEAWAYS

• If your mortgage is backed by the federal government, provisions of the
2020 CARES Act allow you to potentially suspend payments for up to 360
days if you experience financial hardship.
• The last date to apply for mortgage forbearance is June 30, 2021.
• Under CARES Act legislation, you will not be charged late fees or reported
to credit bureaus.
• Foreclosures and evictions of eligible loans are halted through June 30,
2021.
• If your loan is not federally backed, you can contact your loan servicer,
state government, or local authorities to find out what options you have.
• Both the Consolidated Appropriations Act (CAA) 2021 and American
Rescue Plan of 2021 contain additional funding for housing relief.

If selling is your only option, or you wish quicker relief, we can buy for cash now with tenants in place!

Fill out the form and we will get you started!