Aarrggh. Hurricane headed our way

Not the brazillions?

Only in South America.

They already did. It’s called Houston. The hard part is moving all the buildings and stuff to a new drier location. :slight_smile:

Too soon?

As I understand it, there are a significant number of renters in the Houston area and there’s a fear rents will rise due to a shortage of habitable housing. It almost sounds as though there will be fewer areas that can even be rebuilt in after this.

Now Hurricane Irma is on its way to Florida with greater intensity.

Hopefully, if it makes landfall, it will make a bullseye on Mar-a-Lago. That would save us taxpayers millions of dollars!

Probably not.

He’ll get a FEMA low interest loan to rebuild, then he’ll skip out on repaying, it then he’ll pardon himself for being a deadbeat.

According to The Guardian:

Gators would be ideal for Trump’s administration, then. The fact that they’re cold-blooded reptiles is a bonus – they’ll fit right in from Day 1.

You need a tiny sewing needle.

Yet, the homeowners in counties where a disaster was declared don’t have to pay their mortgage payments for a certain # of months; so in theory, they can collect rent w/o paying the mortgage on that property.

AFAIU, the mortgage payments are not canceled for that certain # of months. They are offering forbearance for 3 months. Which means that borrowers don’t have to make their monthly payments, and no penalty fees would be charged. Interest will still accrue. So it is basically a postponement, not cancellation.

Who said cancel? :confused:

You made it sound as if the mortgage holders will be getting something for nothing (getting rent without paying mortgages). That’s incorrect. They may not be paying the monthly payments, but the total they owe is growing instead of being reduced. So in the end it’s the same, it’s just a temporary postponement.

HUD’s press release, for anyone interested.

Your interpretation of what you thought I meant is incorrect, yes. The payments can be postponed; in other words they do not need to be paid at this time. All the other terms of the mortgage stay in place, yes.
Meanwhile, the rent collected on that property can be used to the homeowner’s benefit which may or may not necessarily be to the renter’s benefit; there’s no law regarding it.

Yes, it can be used to the homeowner’s benefit - for example, to be put away to cover the increase in mortgage that resulted from the postponement of the monthly payments.