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There's another political solution that would maintain the lockdown while preventing thousands of people from dying by reopening the economy: cancel rent. In NJ
by tehjoker 7y ago
There's another political solution that would maintain the lockdown while preventing thousands of people from dying by reopening the economy: cancel rent. In NJ, they canceled mortgages but not rent, so the landlords get a free ride. In theory rents are "frozen" but they'll become due in September with back rent owed.
No free ride for the landlord class. Cancel rent!
- lotsofpulp 7y ago>In NJ, they canceled mortgages but not rent This is not true: https://www.state.nj.us/dobi/covid/mortgagerelief.html https://www.state.nj.us/dobi/covid/mortgagerelief.html >Do I still need to pay my mortgage? >Yes. >Will I have to make up the mortgage payments at the end of the 90-day grace period? >Yes, these mortgage payments will need to be made up by consumers. The Department has requested that forbearance payments be added to and made at the end of the life of the loan. However, consumers should contact the institution that services their home loan to understand the specific programs and terms available to them.
- odshoifsdhfs 7y agoI don't know the NJ specifics, but if they are like anywhere else on the world, mortgages weren't cancelled, just the time not paid added to the end of the term. Sure if you have 20 years left, 20 years + 4 months isn't a big change, but you still have to pay the amount owned. For landlords is the same, except it is in a shorter time period (but then again, not a lot of people rent the same place for 20+ years)