Saturday Apr 04, 2020
How the Stimulus Package Affects Real Estate, and Equity Rich Zip-codes
In this episode of The Double Comma Club, this discussion took place during the new Friday morning series, Agent Ignite Coffee Talk. Some of the topics and points covered included:
Phase 3 Stimulus Package Highlights and how it affects Real Estate:
- Foreclosure moratorium for 60 days beginning March 18, 2020.
- Moratorium on eviction filings for tenants for nonpayment of rent for 120 days
- 3. Borrowers of government-backed mortgages can request up to 360-day payment forbearance. Proof of hardship isn’t necessary. No fees, interest, or penalties can be assessed for the forbearance.
- Independent contractors may be eligible for SBA 7(a) loans in response to COVID-19 covering expenses for the period of Feb. 15, 2020 through June 30, 2020.
- Federal student loans are suspended for 6 months.
- Cash payments based upon certain thresholds.
- Early withdrawals from their retirement account and IRA without penalty.
- Tax credits have been provided for gifts
- Pandemic Unemployment Assistance (Section 2102) is available for independent contractors
- Pandemic Emergency Unemployment Compensation (Section 2107) provides additional relieve after state unemployment is no longer available (addl $600/wk)
Equity Rich Zip Codes
3 Things YOU Can Do Now to Move Your Business Forward
Create a rigid routine. And stick to it!
Setting a routine is one of the most important steps you can take to ensure you remain focused and successful. Just because our “normal” day is no longer normal, it’s no excuse. When you routinize, disturbances give you less trouble. They’re boxed out—by the order and clarity you built. We need routine now more than ever. Make the necessary adjustments. Then stick to your routine!
Add some letters to your name.
Learn what it takes to get your SRES, SRS, ABR or a host of designations. A great place to start is this NAR Website. Explore all the various accreditations and the requirements. With some free time on your hands, time is well spent learning.
Set up 3 meetings next week with prospective clients using Zoom. Share what the market is doing right now and what it’s going to do when this is over. Let them know this is NOT the same as 2008. Trouble figuring out the whole Zoom thing…I got you! I will be hosting a Zoom for Dummies class on Tuesday morning at 10:30.
Coffee Talk: https://fairwaymc.zoom.us/webinar/register/WN_5xzg3jN3SDiM8mHV4FNQ0w
Agent Ignite: https://theruethteam.com/Agent-Ignite
The Rueth Team
750 W Hampden Avenue, Suite 500
Englewood, CO 80110
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YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw
Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.
AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
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