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Many jurisdictions have instituted a no evictions policy.

During those times, are they still calculating late fees and penalties?

Because if so, once that policy is over they won't be able to pay what is owed and will still be out on the street. If they cant pay now, there is a good chance they can't catch back up right away.
 
My wife and I know a married couple who completely disagree with all of you. Their take on life is to live to the best of your ability and worry about the bills later. They are so much in hock now that they will never be able to pay off their bills and they are OK with that. Worse comes to worse they'll declare bankruptcy and see where that goes. It hasn't happened yet but I figure it's only a matter of time for them. In the meantime though they are living the life of Riley. 2-3 great vacations a year, nice house, inground pool, two new cars, go out to dinner all the time, nice cloths and pretty much want for nothing. They both work and pay the minimums on all their bills and credit cards, but don't care what the total amounts are. Their credit is so good they get new CC offers all the time and they get them. They shift debt between the old cards and the new and rinse/repeat every month.

To be honest I'm actually a little jealous. This past January they went on a three week vacation with one week in Orlando inside the Disney Park and then on a 10 day cruise around the Caribbean. They are also going to Aruba for two weeks in the fall, if it's open at that point. I'm doing something wrong staying on top of my bills and living within my means. Hummmm.......
 
Well, I know some people that recently took bankruptcy. Some outfit came in and literally took everything out of their house. I mean everything. Down to potted plants even. They couldn’t believe it. I don’t know what they thought was gonna happen. They lived outside of their means for years, and it finally caught up with them.
 
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Stupid sheeple begged the government to lock everyone up and shut everything down "to save us".

Well those same sheeple are about to watch as the Elite ruling class and the Global Bankers take those trillions of dollars of money the government gave them instantly & use that to rip everything the sheeple worked for out from under them and leave them bankrupt, penniless, destitute and serfs of the ruling class with nothing to show for it.

The politicians, media, rich & elitists are as happy as they can be about this. It's all about power, control & wealth for them.
 
I have a BIL with all the financed toys. Works in the oil field, which is up and down to say the least. Any time there's too much month at the end of the money, they rotate. House and utilities first, then pay the Boat this month, the RV next, then truck, and so on. They don't want your shit back.

It's not my style. But it seems to work out.

I used to live by my grandparent's philosophy of no debt ever. It's tough. Then I watched him slowly die in his recliner at their paid-off house in a small town. Kinda realized at that point that there is a balance to be struck. Now, I use credit as a tool with all the risks understood. I have a house and land that adds a lot of value and enjoyment to my life, now. So there's that. Next, (all the love to Dave Ramsey) a new reliable car for my wife is worth the money. It's paid off now, but we are still stashing the payment in an index fund such that when it is fully clapped out, we have a sizeable chunk ready to do it again.

Beyond that I have a credit card that I pay off or down very low every month and use it to run purchases through for the points. 3-5% back in the form of gift cards to places I go anyway (lowes, etc.). Also bought a new kubota tractor to help get the property in shape. Whatever. Life is for the living, and I have a giant garden to show for it...
 
I live within my means, but like a lot of people, everything is on loan from the bank. My cheap Chevy Cruze still has almost 2 years to pay off. My relatively cheap townhouse is still mortgaged. My relatively small amount of debt on my line of credit is still present. Even people who try to live within their means will be feeling the burn just as bad as people who don't give a shit about how much debt they have. People like me will still have ruined credit and lose what isn't fully theirs, just the same as the people who are maxing out credit cards and just making minimum payments. Unless you've lived frugally and gone without until you could pay for it at all at once, everyone will be at the mercy of the banks.

I went through one downturn 5 years ago, right after I bought my house, which all my savings went in to. It's been a hard 5 years struggling to keep afloat (I'm in Alberta, I'm sure some of you have heard how bad our oil and gas sector and therefore our economy has been doing). This is going to ruin my province, along with our countries. I'm not hopeful for the near term future. I hope everyone here can do their best to get through this shit storm that has been thrown at us.

In the end though, I have my family, and my guns. That's all I really need to be happy.
 
I got an email from my mortgage company stating they will suspend payments for 90 days just for the asking, basically. It will be added to the end of the loan with no additional interest, penalties, etc. Not sure if I'll take em up on it since I don't need to.

Also got an email from the Governor this morning stating that he is suspending all foreclosures, evictions, and utility cutoffs until May 1 (subject to being extended again).

In these circumstances, not of anyone's own making, I support these efforts because there are people really hurting.
 
What about the landlord that's hurting? Fuck him I guess.
 
What about the landlord that's hurting? Fuck him I guess.
Correct,..looks to me like they are starting to pick an choose who they want on their side if/when this is all over. More people rent/owe than those who own 100% of whats theirs. Good way to piss off the people who made and are holding this country together,...
 
What about the landlord that's hurting? Fuck him I guess.

You don't think he's carrying a loan that he needs to pay this month too? Whether on the property he's renting or the house he's living in or both? This goes far and deep. We haven't seen shit yet. Fuck, we're not even started with the sickness.
 
You don't think he's carrying a loan that he needs to pay this month too? Whether on the property he's renting or the house he's living in or both? This goes far and deep. We haven't seen shit yet. Fuck, we're not even started with the sickness.
Probably. Also has maintenance, insurance, whatever other expenses plus he has to care for his own family.

I don't get how two people can have a private contract/rental agreement and the State can come along and tell them it's no longer binding.
 
What about the landlord that's hurting? Fuck him I guess.

From what I understand, the landlord should be able to get the same consideration from most banks (postponement of payments).

I guess the other option is to throw people out on the streets by the 10s of thousands and hope some one else will have the money to rent your place.
 
Glad I sold all the rentals we had last year as I figured a housing bubble was coming.

Also glad I never accepted any outside investment, partners or took on external debt to fund our new businesses.

I answer to fucking no one, and situations like we are currently in are exactly why.
 
From what I understand, the landlord should be able to get the same consideration from most banks (postponement of payments).

I guess the other option is to throw people out on the streets by the 10s of thousands and hope some one else will have the money to rent your place.
It's a shitty situation for all involved. I just get defensive when I hear the gov's coming between two private parties.
 
It's a shitty situation for all involved. I just get defensive when I hear the gov's coming between two private parties.

I agree with you. But this is gonna be bigger than 9/11 and the 08' housing bubble burst combined. Unprecedented in World history as the entire World has been effected in the exact same way.
 
i hope one thing we all learn from this disaster is to live within your means.

maybe people will understand that if you cant pay for it you should buy it

Wasn't this what was being preached after the '08 craziness? Only a fool would believe that people learn from the past haha!
 
You don't think he's carrying a loan that he needs to pay this month too? Whether on the property he's renting or the house he's living in or both? This goes far and deep. We haven't seen shit yet. Fuck, we're not even started with the sickness.


The gov is making efforts to help small business owners and real estate investors. Here’s a blurb from an email I received yesterday.

The SBA Economic Injury Disaster Loans (EIDL) are available for rental property owners if your state has already made the application to the federal gov.
I know Connecticut, Massachusetts, Maine, New York all have. Expect all states to eventually apply.
- These loans are up to $2MM
- The loan terms are 30 years, 3.75% rate
- First 12 months of payments deferred
- No prepayment penalty
- Funds are to be used for working capital needs
Apply for free at the following:
https://disasterloan.sba.gov/e... sure to select Economic Injury!
 
I told the renters in my 3 properties that they don’t have to pay rent until June 1st.


Thats very generous and kind of you.

I hope the renters repay your kindness in taking care of your property. Im guessing they are good to go in the ifrst place if you are allowing them that grace.

Also I hope your mortgage company (if you use one) allows you some grace in your payments.

Guessing though that being a male gigolo you have the money from your day job to pay the rents anyway.
 
We're renters and our rental company said that if we couldn't pay rent this month it'll be postponed until the next month when the 'rona bucks come in. If they waive one months rent later on, I'd be cool with it considering I temporarily lost a source of income because of all this but we still intend to pay all our bills on time, and have the means to do so with out worrying for now. Right now since I have the time and still have the means to support us, even with the loss of income, my priority is to take care of mine and the lady's family, and others close that could benefit from the help. If the need arises, then I take on a few more odd jobs or a new career for the time being, get rid of a few things, and we make some more small sacrifices. We're not going to stand by and idle and hope someone comes to bail us out, like I'm sure most people are already expecting.


Detroit is currently filled with the hopeless and the dependent because Uncle Sam comes monthly and throws up in their mouths.

If they even considered doing like you are they would be getting ahead.

In some circumstances "kindness" can be cruel.
 
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I applaud your conviction and attitude. You set the example of a strong person. Best wishes.

Thank you and you as well, but like you said, sometimes we need to experience hard times to learn some valuable lessons. I'm young and have made my fair of poor choices. I probably will make some more as time progresses, it's inevitable. I'm sympathetic to those that are having a hard time because of all this, but that sympathy starts to fade for those that aren't going to try to make the difference for themselves.
 
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When do you guys think the riots will kick off?

It's not necessarily the riots but when some of the have-nots decide to take from the haves.

Remember that a lot of leftist anti-gunners have suddenly discovered the 2nd Amendment. Some of them might decide to put them new shootin' irons to use when the goobermint doesn't give them everything that they want.

Some of the already believe that the spread of the virus is the fault of Christians.

https://www.nytimes.com/2020/03/27/opinion/coronavirus-trump-evangelicals.html

Some of the leftists may decide that it is their right to rob you of your stuff - for the children.
 
i hope one thing we all learn from this disaster is to live within your means.

maybe people will understand that if you cant pay for it you should buy it
Would be great, but doubtful.

especially with people already planning out what garbage their going to buy with their corona checks
 
I'm sure I will piss of a few with this but it pisses me off that government will shut things down , put people out of work and then suspend student loan payments , but every one else has to make good on their car , house , ect loans.
You choose to BUY an education , just like someone else choose to BUY a car, so for all of you with a student loan , pay your fucking bill . your not special !
 
Like him or not, I have been trying to follow Dave Ramsey advice. Don’t owe anyone anything ever. For any reason! I have a ways to go, but times like this are the reason.
 
Ive heard forms several that mortgage companies and auto loan companies are allowing 90 day payment defer with no charge or penalties.
If I’m not mistaken, after 3 months the loans become non-performing, and companies have to start reserving for the losses. Mainly affects banks and other financial institutions like GMAC, FMC, TFS, mortgage lenders..liquidity crisis follows. This is going south quickly.
 
Or how about the 20k plus rigs pulling away from pumps reading less than 20 bucks? Saw that too many times this year.
 
Also keep a couple Hundred on you and a couple hundred at home (at the minimum).

A couple hundred often takes care of a lot of what may come your way.
 
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My great grandpa always said it costs the same to keep the top half full as the bottom half. I think its a pretty good rule for the winter living in South Dakota, but I dont care to sit at a pump more times in a week than needed.
 
Fuel tanks that are not full will condensate in the winter, faster than a full tank. Just because your on the road does not mean there will always be power on at the stations you chose to stop at to pump the fuel. Running out of fuel do to local power outages can be a hoot depending on which side of the coin you're on when it happens. People have got accustom to having everything at their finger tip[s 24/7/365 an most have to learn the hard way about self responsibility an proper choices in life.
 
Only reason I keep my tank half full is because I don't drive much. It may last me several weeks. And I don't want that piss water with ethanol they call gasoline nowadays in my tank that long as it attracts moisture, separates, and goes bad quick. I like to cycle that crap through at least every two weeks.
 
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Buy real gas. Especially now; it's cheap.

Also, don't let stored gas sit on the ground. It needs to be up on something off the ground.
 
Buy real gas. Especially now; it's cheap.

Also, don't let stored gas sit on the ground. It needs to be up on something off the ground.

Good point. Around here, the only ethanol free gas is premium. Which I always buy for my small engines, motorcycle, atv, no matter the cost. Now that it's cheap, I may just start pumping it in everything.

I sure wish Trump would get rid of that disastrous ethanol mandate. Not only does it ruin engines by the millions and cost consumers billions of dollars, it also drives the cost of food up. Fucking Iowa and their special interests.
 
Midgrade non-ethanol is a little higher than 10% ethanol premium here. I do the same with using non-ethanol for small engines and gas I store. I'm all for drinking it, but it sucks ass as a fuel.
 
The other reason to keep your tank full is the pump is cooled by the fuel.
 
I learned a very hard lesson at 19. I was in the Air Force and I lived outside of my means. I ended up having to sell my car, my stereo, albums and tools to get out of trouble. I did not have a safety net to help me, mostly because I was too ashamed to ask, but because it just wasn’t an option. At 18 you are a man, you are on your own. I never allowed myself to get in that position again. When I got married, we budgeted on one paycheck. We didn’t have new cars, but they ran. We lived in a mobile home that we bought. I couldn’t afford to get into guns and so many other things. We did without. We prioritized “wants” vs. “needs”. We didn’t suffer. We also started building our safety net.

This “bailout” shit lets too many off the hook. No lessons will be learned because it will be expected that the Government will bail them out the next time. Hard lessons teach us. There will be some “yeah but …” cases but as harsh as this sounds, most people were irresponsible, and they should be forced to learn the hard lesson. Of course, I haven’t heard of any celebs or politicians that want to give everything away to illegals step up and offer to give their fortunes over to help others.
Nope, they vote themselves into office and then legislate others fortunes to the poor. Never their own money.