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Not everyone has lost their jobs. Folks that still have an income should be paying their mortgages/rent on schedule. Those who can’t can defer. This way there’s
by pm90 7y ago
Not everyone has lost their jobs. Folks that still have an income should be paying their mortgages/rent on schedule. Those who can’t can defer. This way there’s a reduction in income but not a total collapse.
- nickff 7y agoYou'd be a fool not to defer, if the deferral is at almost no cost. We have seen that people will take the financial path of least resistance (as happened with non-recourse loans in the financial crisis), so I wouldn't depend on payment by those who can.
- kelnos 7y agoIs everyone eligible for deferment, regardless of their financial or employment situation? If so, that seems incredibly short-sighted policy-wise.
- pm90 7y agoMeans testing would cause more problems than it can solve. A somewhat fair compromise would be to increase the amount owed a tiny bit to encourage those who can pay to continue paying.