#130 What is Happening with COVID and Mortgage Payments?

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What is happening with COVID and mortgage payments? In this episode of Investing on the Go, Bill shares the state of people losing their homes in this country right now. Next, he compares what will happen in the next couple months to a tsunami. Furthermore, he emphasizes how markets are cyclical and after a period of being up for a long time, most markets will likely be going down. Most importantly, Bill challenges you to examine where you have positioned yourself to fill the void with exit strategies by creating your own market. Also, he explains how forbearance, loan modifications and foreclosures work. Lastly, he encourages you to mask up, not let COVID control your life, and to get out there and do what your competition won’t do right now.

In closing, Bill invites you to take advantage of the FedUp package at Dwanderful.com/fedup. Also, he would love for you to leave a five star review. Remember, champions never give up!

Time Stamps:

:59 Bill welcomes you and explains what Investing on the Go is.
1:19 Bill shares the challenge Dwan issued him to pick this episode’s topic out of a hat.
3:09 Bill introduces this episode’s topic: What is happening with COVID and mortgages?
4:39 Bill shares there are more than 15K people a week in the country losing homes.
4:51 Bill shares the state of things right now and compares it to a tsunami.
5:51 Bill emphasizes that markets are cyclical, have been up for a long time and are getting ready to go down in most major US markets regardless of what realtors say.
6:19 Bill encourages you to have multiple exit strategies.
7:27 Bill encourages you that we have to fill the void by understanding what we can do.
7:29 Bill explains short sales.
8:09 Bill explains how the banks have the pulse on what markets are doing and on what they are focusing.
9:14 Bill explains how you create your own market.
9:51 Bill explains how forbearance typically works especially in light of COVID.
10:51 Bill explains how loan modifications and eventually foreclosure works.
11:20 Bill asks how you are positioning yourself in this market post COVID?
11:41 Bill recommends you put a mask on and start going out to talk to homeowners in distress.
11:51 Bill recommends to get the FedUp package at Dwanderful.com/fedup so you know what options to offer them. He highlight that the options to make money on are option #s 3, 4 and 5.
12:09 Bill shares the ten options.
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