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(MSN)   It's not just the renters who will be out on the street, a tsunami of deferred debt is coming ashore and will hit homeowners no longer protected by the foreclosure moratorium soon   (msn.com) divider line
    More: Followup, Mortgage, Foreclosure, Money, monthly payments, New Orleans, forbearance ends, mortgage servicers, percent equity  
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3316 clicks; posted to Main » and Politics » on 01 Aug 2021 at 1:38 PM (11 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-08-01 2:31:44 PM  

hervatski: I thought most people won't be hit by foreclosures due to the gov mandating that balances be added to the back end of the loan?


FTA:

About a third of homeowners were never eligible for forbearance due to having mortgages that weren't federally backed. (The moratorium applied only to mortgages backed by the Department of Housing and Urban Development, the Department of Veterans Affairs, the Agriculture Department and the Federal Housing Finance Agency.)

Other homeowners may not know about forbearance, or may have received inaccurate information on their eligibility. Even for those in forbearance, mortgage servicers may not be adequately communicating all possible options to homeowners for resolving debt.

"There's a really big problem with servicers not accurately explaining the post-forbearance options, such as loan modification to permanent deferral, all of those things that are necessary to bring the loan current," said Sarah Mancini, a staff attorney at the National Consumer Law Center.


This is my shocked face  ( -_-)
 
2021-08-01 2:32:04 PM  
17 million.

There are 17 MILLION people in rented homes that might be homeless as soon as tomorrow.

Does anybody truly grasp how many people that is??

And Congress and Biden just..... let it happen. Cori Bush and progressives slept on the Capitol steps over the weekend to try to get people to care. And Democrats decided to use a unanimous decision vote instead of a simple majority vote to address it?? Goddammit.

And don't give me any bullsh*t about the "rules" or how it "has to be through Congress" or some bullsh*t, when Trump showed us that breaking all the rules and doing whatever you want gets you whatever you want.

When 17 million people are about to be homeless, starving, and dying (DURING A PANDEMIC), and you say that you can't help them because of the "rules," you are a monster. Full stop. You care more about being patted on the head for being a good and obedient soldier for following the rules than you do about people being robbed by the already-rich.

F*ck this country. F*ck anyone and everyone who was in a position of power to help but decided not to.
 
2021-08-01 2:32:08 PM  

NM Volunteer: Good job GQP, instead of stopping the virus by wearing damned masks last summer, you've condemned many many mortgagors and tenants to be homeless.  Including your own dumb asses.


Lol. You really don't understand or pay attention to the news very well for someone who is in this site so often.

Bless your heart.
 
2021-08-01 2:32:22 PM  

hervatski: I thought most people won't be hit by foreclosures due to the gov mandating that balances be added to the back end of the loan?


We had to do the forbearance. My wife and I were hit hard (workwise) from the pandemic. We are in a much better place now and will be back sending out the mortgage payment each month. Of course... my wife received a nice phonecall Friday by the company declaring "an attempt to collect a debt" in the full amount of what we didn't pay during that time. Needless to say, she handed the phone to me before the panic attack kicked in. Turns out that our "situation" has to be "reviewed" before our options (if any, besides pay up) are made available. We have an FHA mortgage. Always paid on time for the previous 10 years we've been in the house, never missed a payment, or been in forbearance before. We were told repeatedly that the missing payments would be put into a 0 interest loan payable at the end of the mortgage. Hoping for the best here. Don't need this worry.
 
2021-08-01 2:32:24 PM  
Thank Gramps I own my home and veehickles outright.  I've missed out on that whole nightmare.
 
2021-08-01 2:32:43 PM  

TWX: Unsung_Hero: TWX: Well, we're prepared.  If the housing market crashes like it did starting in 2008 or so we'll be ready to pick up property.

IF.  If there were certainties involved, I'd be cashing out my house now, renting on the downswing, then buying multiple homes at the bottom.   But there's too much population pressure for a huge correction, and I need a place to live, so I'm going to miss out on my chance to get into the landlord game.

Population pressure is secondary to lenders' willingness to lend.

We offered in late 2010 and closed in early 2011 on a short-sale that took 119 days to close.  We got the house at the literal bottom of the trough of the crash of the housing market, because we had excellent credit and the 20% to put down.

But then again, we live a lifestyle as a family that's far below what we could afford to live, which is why we had the resources to do what we did, and why we'll have the resources to do what we might do if the market does indeed crash and credit becomes unavailable to most buyers.


I'd have a similar buying history to you. My wife and I had been saving for a few years. The market we live in is one of the most expensive in the country and we figured we'd be renting for a very long time. But then with the crash we were suddenly in the driver's seat. We bought a home in an ideal neighborhood for us. I did a ton of upgrades and work on the place myself over the years and we love it.

Now here we are 13 years later. The neighborhood we're in has shot up. A couple years ago someone renovated a colonial down the street, converted it into two 1200 sq ft condos, and sold each for $550,000. Last summer a small ranch house in back of us was torn down and a new home built on the 5000 sq ft lot and sold for $1.1 million. My friend and neighbor across the street decided to cash in since the last of his kids went away to college. His place was built 80+ years ago, he has the same square footage as me (1600), same size lot (8000), but he never did a single upgrade. The inside looks like the 1970s. He only has a single bathroom located on the second floor. Last month it sold in 3 days for $720,000. It is absolute insanity.
 
2021-08-01 2:33:08 PM  

yet_another_wumpus: Fonaibung: WalkingSedgwick: Nice government you've got there when legislators going on vacation to enjoy their donors' money is more important than doing anything about this.

America is largely controlled by a minority (Republicans) who answer to a vanishingly small donor class of people. It's a failed state.

Do you know who your state legislators are?  In Maryland, the state legislators pass plenty of shockingly donor biased bills over and over, despite being completely controlled by the Democrats.  And if you haven't a clue what they voted on, why not take money from the highest bidder?

Moved to New York (Rochester).  Seems like an even worse Democratic party, although good luck finding a better Republican party (especially now) to even compete with a horrible Democratic party (there is a scary movement among Q-anon types to take direct control of the local parties and make them even worse).

Back in the 1990s, one of the biggest things the rightwing was interested was in de-federalizing (see Ron Paul and other neo-confederates).  Mostly because it is easier to to corrupt each state legislature than Congress, if only thanks to the cost of running for the respective offices.  Other reasons was that in the 1990s the total wingnuts were capturing state governments, but hadn't quite moved onto the Federal Government.  I'm not sure I've heard that line of bullshaite since Dubya took over, so maybe the cost of each statehouse has gone up.

/nothing will change until the man on the street knows the voting record  of his state legislators
//also has to care
///I'm typically using some sort of voting guide, so guilty as well


What's to know? The Republican Party is selling us down river and the Machins and Sinemas of the world are in on it
 
2021-08-01 2:33:13 PM  

Peki: Good luck getting renters once this is all over. As it is no one in Los Angeles will rent to some one who can't prove three months income. We're going to have an unhoused crisis the likes of which this country has never seen. And that includes kids. :/


California's homelessness crisis is entirely made in California. It's not mental illness or addiction, it's the deliberate under-construction of housing units in order to gift existing property owners with ever rising property values.
 
2021-08-01 2:34:13 PM  

bluejeansonfire: 17 million.

There are 17 MILLION people in rented homes that might be homeless as soon as tomorrow.

Does anybody truly grasp how many people that is??

And Congress and Biden just..... let it happen. Cori Bush and progressives slept on the Capitol steps over the weekend to try to get people to care. And Democrats decided to use a unanimous decision vote instead of a simple majority vote to address it?? Goddammit.

And don't give me any bullsh*t about the "rules" or how it "has to be through Congress" or some bullsh*t, when Trump showed us that breaking all the rules and doing whatever you want gets you whatever you want.

When 17 million people are about to be homeless, starving, and dying (DURING A PANDEMIC), and you say that you can't help them because of the "rules," you are a monster. Full stop. You care more about being patted on the head for being a good and obedient soldier for following the rules than you do about people being robbed by the already-rich.

F*ck this country. F*ck anyone and everyone who was in a position of power to help but decided not to.


username checks out.
 
2021-08-01 2:34:18 PM  

Fonaibung: WalkingSedgwick: Nice government you've got there when legislators going on vacation to enjoy their donors' money is more important than doing anything about this.

America is largely controlled by a minority (Republicans) who answer to a vanishingly small donor class of people. It's a failed state.


America is controlled by the people who control both political parties: the wealthy.

Stop this farce of presenting Republicans vs Democrats as "good versus evil," because that's not remotely true.

It's "Aggressive Lapdogs of the Wealthy vs Polite and Cowardly Lapdogs of the Wealthy"
 
2021-08-01 2:34:50 PM  

yet_another_wumpus: Fonaibung: WalkingSedgwick: Nice government you've got there when legislators going on vacation to enjoy their donors' money is more important than doing anything about this.

America is largely controlled by a minority (Republicans) who answer to a vanishingly small donor class of people. It's a failed state.

Do you know who your state legislators are?  In Maryland, the state legislators pass plenty of shockingly donor biased bills over and over, despite being completely controlled by the Democrats.  And if you haven't a clue what they voted on, why not take money from the highest bidder?

Moved to New York (Rochester).  Seems like an even worse Democratic party, although good luck finding a better Republican party (especially now) to even compete with a horrible Democratic party (there is a scary movement among Q-anon types to take direct control of the local parties and make them even worse).

Back in the 1990s, one of the biggest things the rightwing was interested was in de-federalizing (see Ron Paul and other neo-confederates).  Mostly because it is easier to to corrupt each state legislature than Congress, if only thanks to the cost of running for the respective offices.  Other reasons was that in the 1990s the total wingnuts were capturing state governments, but hadn't quite moved onto the Federal Government.  I'm not sure I've heard that line of bullshaite since Dubya took over, so maybe the cost of each statehouse has gone up.

/nothing will change until the man on the street knows the voting record  of his state legislators
//also has to care
///I'm typically using some sort of voting guide, so guilty as well


As if that weren't enough, anything a party does, no matter how awful, will be defended or willfully ignored by 40-50% of the population that is paying attention.  Team sport.  Beginning to think that we're never going to have good government.
 
2021-08-01 2:36:13 PM  

rolladuck: RolfBlitzer: I may be broke, but at least I have no debt.

I'll be there, too about a year after my divorce is finalized.
I'm amazed at how much my wife was draining our bank account.


You know why divorce is so expensive?
Because it's worth it.
 
2021-08-01 2:45:40 PM  

bluejeansonfire: Stop this farce of presenting Republicans vs Democrats as "good versus evil," because that's not remotely true.

It's "Aggressive Lapdogs of the Wealthy vs Polite and Cowardly Lapdogs of the Wealthy"


The function of the Democratic Party is to protect the privileges of people with more than $750,000 in assets. The function of the Republican Party is to protect the privileges of people with more than $750,000 in unearned income.

The only other difference is that the Republican Party opens concentration camps while the Democratic Party merely refuses to close them.
 
2021-08-01 2:45:50 PM  

Peki: County? I thought it was LA city that passed that ordinance.


I stand corrected. My mistake. So they only solved homelessness for The City of Los Angeles.
Still a great start.
Eazy peazy
 
2021-08-01 2:49:21 PM  

WalkingSedgwick: Peki: Good luck getting renters once this is all over. As it is no one in Los Angeles will rent to some one who can't prove three months income. We're going to have an unhoused crisis the likes of which this country has never seen. And that includes kids. :/

California's homelessness crisis is entirely made in California. It's not mental illness or addiction, it's the deliberate under-construction of housing units in order to gift existing property owners with ever rising property values.


Yup. I'm aware. I've been looking for housing since December but can't find a place because a) I didn't work during the pandemic so I can't provide three month's of paycheck stubs and b) becoming unhoused made me lose track of all my documents (case worker wants my social security card, presumably to prevent accusations that "illegal immigrants" are getting services).

This state, for all that it's billed as progressive, is mean AF to its underclass. The other fun one was trying to get support for domestic violence, only to be told I don't qualify because the assaulter was my uncle instead of an intimate partner.
 
2021-08-01 2:50:06 PM  

WalkingSedgwick: Fonaibung: WalkingSedgwick: Nice government you've got there when legislators going on vacation to enjoy their donors' money is more important than doing anything about this.

America is largely controlled by a minority (Republicans) who answer to a vanishingly small donor class of people. It's a failed state.

This isn't an R vs D issue. The Biden White House didn't suggest Congress do something until it was too late to do anything. Then, Pelosi's House went on vacation to allow its members to enjoy their donors' money.

It goes without saying that the Senate GOP would have vetoed any aid package in any case, and that Senate Democrats would be happy to do nothing, as the preservation of the fillibuster-veto is of paramount importance to each Senator's ability to raise money and avoid accountability.

America is a collapsing oligarchy that pretends to be a democracy.  It has has two fake parties that support essentially the same policies in private and blame each other for obstructing policies that the parties claim to support in public but don't actually have any intention of enacting.


The Founding Fathers made sure we aren't a democracy (i.e., mob rule). They made damn sure that we're a representative republic - where even tiny-arse states like Delaware get a say. Sorry that you have to pay your rent, I'm sure in Sweden or China no one pays rent - you might want to consider moving there. Also, if we're such a collapsing oligarchy, how come everyone and her mother want to come here?
 
2021-08-01 2:56:47 PM  

TWX: Well, we're prepared.  If the housing market crashes like it did starting in 2008 or so we'll be ready to pick up property.


Is it you average billionaire rat feeding on the misfortune of others?
 
2021-08-01 2:57:42 PM  

Giantilio: hervatski: I thought most people won't be hit by foreclosures due to the gov mandating that balances be added to the back end of the loan?

We had to do the forbearance. My wife and I were hit hard (workwise) from the pandemic. We are in a much better place now and will be back sending out the mortgage payment each month. Of course... my wife received a nice phonecall Friday by the company declaring "an attempt to collect a debt" in the full amount of what we didn't pay during that time. Needless to say, she handed the phone to me before the panic attack kicked in. Turns out that our "situation" has to be "reviewed" before our options (if any, besides pay up) are made available. We have an FHA mortgage. Always paid on time for the previous 10 years we've been in the house, never missed a payment, or been in forbearance before. We were told repeatedly that the missing payments would be put into a 0 interest loan payable at the end of the mortgage. Hoping for the best here. Don't need this worry.


If your finances are stable again couldn't you take an equity loan to pay the forbearance  amount as a last case option?  With 10 years paymebt you surely have significant %
 
2021-08-01 2:58:30 PM  

bluejeansonfire: 17 million.

There are 17 MILLION people in rented homes that might be homeless as soon as tomorrow.

Does anybody truly grasp how many people that is??

And Congress and Biden just..... let it happen. Cori Bush and progressives slept on the Capitol steps over the weekend to try to get people to care. And Democrats decided to use a unanimous decision vote instead of a simple majority vote to address it?? Goddammit.

And don't give me any bullsh*t about the "rules" or how it "has to be through Congress" or some bullsh*t, when Trump showed us that breaking all the rules and doing whatever you want gets you whatever you want.

When 17 million people are about to be homeless, starving, and dying (DURING A PANDEMIC), and you say that you can't help them because of the "rules," you are a monster. Full stop. You care more about being patted on the head for being a good and obedient soldier for following the rules than you do about people being robbed by the already-rich.

F*ck this country. F*ck anyone and everyone who was in a position of power to help but decided not to.


They should march on DC and wall street and burn them to the farking ground.
 
TWX
2021-08-01 2:58:39 PM  

Catsaregreen: WalkingSedgwick: Fonaibung: WalkingSedgwick: Nice government you've got there when legislators going on vacation to enjoy their donors' money is more important than doing anything about this.

America is largely controlled by a minority (Republicans) who answer to a vanishingly small donor class of people. It's a failed state.

This isn't an R vs D issue. The Biden White House didn't suggest Congress do something until it was too late to do anything. Then, Pelosi's House went on vacation to allow its members to enjoy their donors' money.

It goes without saying that the Senate GOP would have vetoed any aid package in any case, and that Senate Democrats would be happy to do nothing, as the preservation of the fillibuster-veto is of paramount importance to each Senator's ability to raise money and avoid accountability.

America is a collapsing oligarchy that pretends to be a democracy.  It has has two fake parties that support essentially the same policies in private and blame each other for obstructing policies that the parties claim to support in public but don't actually have any intention of enacting.

The Founding Fathers made sure we aren't a democracy (i.e., mob rule). They made damn sure that we're a representative republic - where even tiny-arse states like Delaware get a say. Sorry that you have to pay your rent, I'm sure in Sweden or China no one pays rent - you might want to consider moving there. Also, if we're such a collapsing oligarchy, how come everyone and her mother want to come here?


Because the value of our currency hasn't tanked yet?  Because reputations take time to spread?  Because however bad it gets there's someplace worse?
 
2021-08-01 2:59:02 PM  
It's not like anyone affected did not see this coming, or did not have time to figure out any other options.
 
2021-08-01 2:59:22 PM  

iheartscotch: The problem with deferring debt, at least on personal debt, is you have to set aside the money to pay the debt.


The people who couldn't afford their debt don't magically become able to afford it by waiting longer. The problem is that their debt is too high and their income is too low. I don't know why this country thought that a pandemic was magically going to bank people the thousands they need not to be financially drowning.
 
2021-08-01 3:01:18 PM  
I'm sympathetic but how long can this go on? Then again we gave out free money to all kinds of businesses that didn't need it and said "don't worry about paying  that back."

Do landlords  really have that many prospective renters waiting that they want to boot the current ones?
 
2021-08-01 3:01:52 PM  

WalkingSedgwick: bluejeansonfire: Stop this farce of presenting Republicans vs Democrats as "good versus evil," because that's not remotely true.

It's "Aggressive Lapdogs of the Wealthy vs Polite and Cowardly Lapdogs of the Wealthy"

The function of the Democratic Party is to protect the privileges of people with more than $750,000 in assets. The function of the Republican Party is to protect the privileges of people with more than $750,000 in unearned income.

The only other difference is that the Republican Party opens concentration camps while the Democratic Party merely refuses to close them.


The dems always say nice things, and then never do them.
The repubs always say god awful things, and then actually implement them.

Left wing, right wing, same bird.
 
2021-08-01 3:02:26 PM  
Just as planned. Time for the wolves to feed and snap up all the foreclosures. This country is so sick in its soul that it may be beyond saving.
 
2021-08-01 3:02:49 PM  

bluejeansonfire: 17 million.

There are 17 MILLION people in rented homes that might be homeless as soon as tomorrow.

Does anybody truly grasp how many people that is??

And Congress and Biden just..... let it happen. Cori Bush and progressives slept on the Capitol steps over the weekend to try to get people to care. And Democrats decided to use a unanimous decision vote instead of a simple majority vote to address it?? Goddammit.

And don't give me any bullsh*t about the "rules" or how it "has to be through Congress" or some bullsh*t, when Trump showed us that breaking all the rules and doing whatever you want gets you whatever you want.

When 17 million people are about to be homeless, starving, and dying (DURING A PANDEMIC), and you say that you can't help them because of the "rules," you are a monster. Full stop. You care more about being patted on the head for being a good and obedient soldier for following the rules than you do about people being robbed by the already-rich.

F*ck this country. F*ck anyone and everyone who was in a position of power to help but decided not to.


Look, do you want four more years of Trump??

You will never get these "moderates" to listen to you. They are as bad as Republicans when it comes to changing their minds--they don't listen. They don't care. Their lives are fine, so they don't see what the big deal. It's privilege and arrogance all the way down.
 
2021-08-01 3:03:53 PM  
Gilded Age ll, Electric Boogaloo.
 
2021-08-01 3:04:05 PM  

zeaper12: It's not like anyone affected did not see this coming, or did not have time to figure out any other options.


I know, why didn't they just borrow it from their parents...your comment may be the dumbest thing I have read this week.
 
2021-08-01 3:04:40 PM  

edmo: I'm sympathetic but how long can this go on? Then again we gave out free money to all kinds of businesses that didn't need it and said "don't worry about paying  that back."

Do landlords  really have that many prospective renters waiting that they want to boot the current ones?


This country has enough money to take care of everyone.

We could solve homelessness for a few billion. We could solve hunger for a few billion more. If we fixed our cruelly broken healthcare system, we'd save money. Same with funding the IRS.

But we can't have these things because they make rich people sad or something.
 
2021-08-01 3:05:22 PM  

hervatski: I thought most people won't be hit by foreclosures due to the gov mandating that balances be added to the back end of the loan?


Did the gov actually do that and it was wishful thinking? In Canada they did do that. In Murica, I'm not so sure since the banks own most of congress.
 
2021-08-01 3:05:44 PM  

Parthenogenetic: hervatski: I thought most people won't be hit by foreclosures due to the gov mandating that balances be added to the back end of the loan?

FTA:

About a third of homeowners were never eligible for forbearance due to having mortgages that weren't federally backed. (The moratorium applied only to mortgages backed by the Department of Housing and Urban Development, the Department of Veterans Affairs, the Agriculture Department and the Federal Housing Finance Agency.)

Other homeowners may not know about forbearance, or may have received inaccurate information on their eligibility. Even for those in forbearance, mortgage servicers may not be adequately communicating all possible options to homeowners for resolving debt.

"There's a really big problem with servicers not accurately explaining the post-forbearance options, such as loan modification to permanent deferral, all of those things that are necessary to bring the loan current," said Sarah Mancini, a staff attorney at the National Consumer Law Center.

This is my shocked face  ( -_-)


Thank you
 
2021-08-01 3:07:34 PM  
I'm on my way to go look at a new cabin for rent. I have to move out this month. Luckily I had a first month and deposit saved up.
I'm really hoping I get this place. Zero neighbors, 3 acres of land, running water, a greenhouse and plenty of heat for the winter. And a little closer to town.
 
TWX
2021-08-01 3:07:39 PM  

lolmao500: TWX: Well, we're prepared.  If the housing market crashes like it did starting in 2008 or so we'll be ready to pick up property.

Is it you average billionaire rat feeding on the misfortune of others?


Nope.  We each spent our childhoods in public schools learning what we needed in order to do reasonably well for ourselves.  I got into IT and my wife got a bachelor's in mechanical engineering from MIT and is literally a rocket scientist.  In turn we are both the progeny of government workers, my dad was a computer programmer for the state and her father was a steam engineer for the Boston sewer system.
Our 2010/2011 home purchase was $300k.
 
2021-08-01 3:08:17 PM  

4seasons85!: thealgorerhythm: 4seasons85!: My fun surprise this morning paying rent was discovering a charge to pay with debit card. We were just bought out by another company less than five days ago. My previous company either charged us $5 to use the card or nothing if signed up for automatically withdrawal. The new company didn't mention any changes to the rent system. Today to pay my rent, with no other option to pay by check, I had to pay an additional $50 to use the online services. So basically it's going to cost me an additional $50 dollars every month to pay rent. The level of greed with rent and houses right now is insane.

Are you capable of paying your rent with money? Serious question, because my suggestion sounds dickish if you can't.

I just have a recurring electronic payment sent from my bank on a monthly basis 10 days before it's due. It's a free service of my bank because it's cheaper to them than processing checks.

I can do this because I have a reliable paycheck and the price doesn't change. YMMV.

Yes I am fortunate that I can afford to pay every month.  My account previously had automatic withdrawal set up through the apartment portal. There was no charge. So it went directly through my bank account.  This new system requires a card (which is possible they aren't fully set up yet since it's a new system) and there's no option to pay direct from my bank account.  I looked into the automatic payment setup and it uses the card and therefore also has a fee. I've never had to set up with my bank, the company would just take it from my account so long as they had my account and routing number. There is no option here for that.


My bank will also cut a paper check for free if there's no electronic service to the payee. I guess their cost savings there is they know they sent the check so they don't spend extra labor on verification when it's cashed.
 
2021-08-01 3:09:28 PM  

austerity101: They don't care. Their lives are fine, so they don't see what the big deal. It's privilege and arrogance all the way down.


Yup thats the main problem with politicians. They all get their $100 000 salary with full benefits and make millions from various bribes and ''investments''... their families members get half a million a year jobs doing nothing but somehow this isnt considered bribes because reasons.

The longer in congress they stay, the more corrupt they become and the less farks they give.Congressfolks and senators should be forced to live like the poorest in the country to see how farking bad it is so they would improve stuff for real. Make Yertle live in a 2 rooms apartment with his wife with paper thin walls and give him only mac & cheese to eat 7 days a week and you'll see how farking fast the minimum salary goes up.
 
2021-08-01 3:09:36 PM  

Barbecue Bob: 4seasons85!: My fun surprise this morning paying rent was discovering a charge to pay with debit card. We were just bought out by another company less than five days ago. My previous company either charged us $5 to use the card or nothing if signed up for automatically withdrawal. The new company didn't mention any changes to the rent system. Today to pay my rent, with no other option to pay by check, I had to pay an additional $50 to use the online services. So basically it's going to cost me an additional $50 dollars every month to pay rent. The level of greed with rent and houses right now is insane.

Pay the fifty in loose pennies.


No. Don't ever do this. This only screws the minimum wage earning person who has to bear the brunt of the decisions made by management.
 
2021-08-01 3:10:40 PM  

Serious Post on Serious Thread: thealgorerhythm: 4seasons85!: My fun surprise this morning paying rent was discovering a charge to pay with debit card. We were just bought out by another company less than five days ago. My previous company either charged us $5 to use the card or nothing if signed up for automatically withdrawal. The new company didn't mention any changes to the rent system. Today to pay my rent, with no other option to pay by check, I had to pay an additional $50 to use the online services. So basically it's going to cost me an additional $50 dollars every month to pay rent. The level of greed with rent and houses right now is insane.

Are you capable of paying your rent with money? Serious question, because my suggestion sounds dickish if you can't.

I just have a recurring electronic payment sent from my bank on a monthly basis 10 days before it's due. It's a free service of my bank because it's cheaper to them than processing checks.

I can do this because I have a reliable paycheck and the price doesn't change. YMMV.

He said debit card not credit so it is effectively cash.

My 2¢: open. FREE online CapitalOne checking/savings account (no fees, minimums etc. and earns (crappy) interest). You can either send money with a zelle thingy, or, like I do, have them send a physical rent check for free from your account. Doesn't even cost u price of a stamp.


OTOH his landlord sounds like an asshole so he should pay in ass pennies.
 
2021-08-01 3:13:24 PM  

4seasons85!: thealgorerhythm: 4seasons85!: My fun surprise this morning paying rent was discovering a charge to pay with debit card. We were just bought out by another company less than five days ago. My previous company either charged us $5 to use the card or nothing if signed up for automatically withdrawal. The new company didn't mention any changes to the rent system. Today to pay my rent, with no other option to pay by check, I had to pay an additional $50 to use the online services. So basically it's going to cost me an additional $50 dollars every month to pay rent. The level of greed with rent and houses right now is insane.

Are you capable of paying your rent with money? Serious question, because my suggestion sounds dickish if you can't.

I just have a recurring electronic payment sent from my bank on a monthly basis 10 days before it's due. It's a free service of my bank because it's cheaper to them than processing checks.

I can do this because I have a reliable paycheck and the price doesn't change. YMMV.

Yes I am fortunate that I can afford to pay every month.  My account previously had automatic withdrawal set up through the apartment portal. There was no charge. So it went directly through my bank account.  This new system requires a card (which is possible they aren't fully set up yet since it's a new system) and there's no option to pay direct from my bank account.  I looked into the automatic payment setup and it uses the card and therefore also has a fee. I've never had to set up with my bank, the company would just take it from my account so long as they had my account and routing number. There is no option here for that.


If I remember correctly, when you use a CC, the merchant pays the processing fees. When you use a debt card, your bank (you) pay the transaction fee. But neither of those fees are $50, even when they are a % of the transaction they generally capped at a max amount.
 
2021-08-01 3:14:18 PM  

auntedrie: Peki: We're going to have an unhoused crisis the likes of which this country has never seen.

No, The County of Los Angeles just made being homeless illegal.
Problem solved


"The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread. "
-Anatole France
 
2021-08-01 3:15:06 PM  

edmo: I'm sympathetic but how long can this go on? Then again we gave out free money to all kinds of businesses that didn't need it and said "don't worry about paying  that back."

Do landlords  really have that many prospective renters waiting that they want to boot the current ones?


The town where I live has an almost 0% vacancy rate. I've heard stories that every apartment for rent receives at least 100 offers.
 
2021-08-01 3:15:44 PM  

Badafuco: I'm on my way to go look at a new cabin for rent. I have to move out this month. Luckily I had a first month and deposit saved up.
I'm really hoping I get this place. Zero neighbors, 3 acres of land, running water, a greenhouse and plenty of heat for the winter. And a little closer to town.


Fark user imageView Full Size
 
2021-08-01 3:18:34 PM  

lolmao500: austerity101: They don't care. Their lives are fine, so they don't see what the big deal. It's privilege and arrogance all the way down.

Yup thats the main problem with politicians. They all get their $100 000 salary with full benefits and make millions from various bribes and ''investments''... their families members get half a million a year jobs doing nothing but somehow this isnt considered bribes because reasons.

The longer in congress they stay, the more corrupt they become and the less farks they give.Congressfolks and senators should be forced to live like the poorest in the country to see how farking bad it is so they would improve stuff for real. Make Yertle live in a 2 rooms apartment with his wife with paper thin walls and give him only mac & cheese to eat 7 days a week and you'll see how farking fast the minimum salary goes up.


Feinstein is a perfect example of this.
 
2021-08-01 3:19:15 PM  

iaazathot: zeaper12: It's not like anyone affected did not see this coming, or did not have time to figure out any other options.

I know, why didn't they just borrow it from their parents...your comment may be the dumbest thing I have read this week.


Call my comment what you like but it's accurate.
 
2021-08-01 3:24:53 PM  
A castaway in the sea was going down for the third time when he caught sight of a passing ship. Gathering his last strength, he waved frantically and called for help. Someone on board peered at him scornfully and shouted back, "Get a boat!"
- Daniel Quinn
 
2021-08-01 3:25:35 PM  

4seasons85!: My fun surprise this morning paying rent was discovering a charge to pay with debit card. We were just bought out by another company less than five days ago. My previous company either charged us $5 to use the card or nothing if signed up for automatically withdrawal. The new company didn't mention any changes to the rent system. Today to pay my rent, with no other option to pay by check, I had to pay an additional $50 to use the online services. So basically it's going to cost me an additional $50 dollars every month to pay rent. The level of greed with rent and houses right now is insane.


Call them up and tell them and tell them you need to start paying by check and ask them for their mailing address. Be sure to record your conversation.
 
2021-08-01 3:26:28 PM  
Good luck voting without an address in states that passed voter disenfranchisement laws.  Yes, that was by design.
 
2021-08-01 3:27:24 PM  

Fara Clark: 4seasons85!: thealgorerhythm: 4seasons85!: My fun surprise this morning paying rent was discovering a charge to pay with debit card. We were just bought out by another company less than five days ago. My previous company either charged us $5 to use the card or nothing if signed up for automatically withdrawal. The new company didn't mention any changes to the rent system. Today to pay my rent, with no other option to pay by check, I had to pay an additional $50 to use the online services. So basically it's going to cost me an additional $50 dollars every month to pay rent. The level of greed with rent and houses right now is insane.

Are you capable of paying your rent with money? Serious question, because my suggestion sounds dickish if you can't.

I just have a recurring electronic payment sent from my bank on a monthly basis 10 days before it's due. It's a free service of my bank because it's cheaper to them than processing checks.

I can do this because I have a reliable paycheck and the price doesn't change. YMMV.

Yes I am fortunate that I can afford to pay every month.  My account previously had automatic withdrawal set up through the apartment portal. There was no charge. So it went directly through my bank account.  This new system requires a card (which is possible they aren't fully set up yet since it's a new system) and there's no option to pay direct from my bank account.  I looked into the automatic payment setup and it uses the card and therefore also has a fee. I've never had to set up with my bank, the company would just take it from my account so long as they had my account and routing number. There is no option here for that.

If I remember correctly, when you use a CC, the merchant pays the processing fees. When you use a debt card, your bank (you) pay the transaction fee. But neither of those fees are $50, even when they are a % of the transaction they generally capped at a max amount.


It sounds like the new property owner is charging the $50 fee, and they can charge as much as they want in that situation
 
2021-08-01 3:30:12 PM  

Fara Clark: 4seasons85!: thealgorerhythm: 4seasons85!: My fun surprise this morning paying rent was discovering a charge to pay with debit card. We were just bought out by another company less than five days ago. My previous company either charged us $5 to use the card or nothing if signed up for automatically withdrawal. The new company didn't mention any changes to the rent system. Today to pay my rent, with no other option to pay by check, I had to pay an additional $50 to use the online services. So basically it's going to cost me an additional $50 dollars every month to pay rent. The level of greed with rent and houses right now is insane.

Are you capable of paying your rent with money? Serious question, because my suggestion sounds dickish if you can't.

I just have a recurring electronic payment sent from my bank on a monthly basis 10 days before it's due. It's a free service of my bank because it's cheaper to them than processing checks.

I can do this because I have a reliable paycheck and the price doesn't change. YMMV.

Yes I am fortunate that I can afford to pay every month.  My account previously had automatic withdrawal set up through the apartment portal. There was no charge. So it went directly through my bank account.  This new system requires a card (which is possible they aren't fully set up yet since it's a new system) and there's no option to pay direct from my bank account.  I looked into the automatic payment setup and it uses the card and therefore also has a fee. I've never had to set up with my bank, the company would just take it from my account so long as they had my account and routing number. There is no option here for that.

If I remember correctly, when you use a CC, the merchant pays the processing fees. When you use a debt card, your bank (you) pay the transaction fee. But neither of those fees are $50, even when they are a % of the transaction they generally capped at a max amount.


Yeah it's a 3.5%(?) processing fee which with my dumb high rent equals a little over $50.
 
2021-08-01 3:31:41 PM  

NM Volunteer: Good job GQP, instead of stopping the virus by wearing damned masks last summer, you've condemned many many mortgagors and tenants to be homeless.  Including your own dumb asses.


Once it got out of China, there was never any stopping this virus. It's always been, "Take these precautions to bend the curve so our medical system isn't swamped," but nobody with a brain ever said it would be eradicated. Instead, it's going to be endemic like the flu and we'll be getting inoculated against the latest versions forever. Given that, it's time we rolled back the no-eviction moratorium. There's something like $21 billion in rent owed already, and allowing that debt to continue to mount is a recipe for much worse problems down the road, kind of like you shouldn't let your beachfront condo continue to deteriorate until it ultimately crumbles into a heap.
 
2021-08-01 3:31:43 PM  

Mock26: 4seasons85!: My fun surprise this morning paying rent was discovering a charge to pay with debit card. We were just bought out by another company less than five days ago. My previous company either charged us $5 to use the card or nothing if signed up for automatically withdrawal. The new company didn't mention any changes to the rent system. Today to pay my rent, with no other option to pay by check, I had to pay an additional $50 to use the online services. So basically it's going to cost me an additional $50 dollars every month to pay rent. The level of greed with rent and houses right now is insane.

Call them up and tell them and tell them you need to start paying by check and ask them for their mailing address. Be sure to record your conversation.


Some states are 2 party consent states on recording.... be careful
 
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