COVID-19 REAL ESTATE ROUNDUP
LA considers emergency rent relief program
Under the measure, the City Council would cover a portion of the rent for three months, according to the Los Angeles Times. The moves comes as California — and much of the nation — remains under stay-at-home orders, with nonessential businesses forced to close because of the coronavirus pandemic.
What You Need to Know About Stimulus Checks
The IRS will begin to send paper stimulus checks on April 24th. The plan is to send paper stimulus checks to taxpayers with the lowest adjusted gross income first. Therefore, taxpayers who earned less than $10,000 will receive a paper check first. You may get it faster if you choose direct deposit. Here are the details:
Mortgage Deferment and Mortgage Forbearance ...
With finances in peril due to COVID-19, many homeowners are in search of mortgage relief. Two strategies that many borrowers are anxious to invoke right now are mortgage deferment and mortgage forbearance. Both tactics allow a borrower to skip monthly payments for a set period. Both tactics allow a temporary period during which a borrower need not make contractual monthly payments. The differences between the two strategies come at the end of that period. Forbearance will be due in lump sum. Deferment will be due over a set period of time.
Buying a House in LA During Coronavirus
Homebuying has been deemed essential under the city’s and county of LA’s “safer-at-home” orders. But with strict social distancing guidelines in place due to COVID-19, the local real estate market—and the process of buying—looks much different now than it did just three weeks ago, when the restrictions kicked in. But its too early to determine if the prices are falling.
If you are a landlord or seller and need help with your virtual property tours, contact me today. We are offering this service free during the pandemic. Click the video below: