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Government and business and banks are announcing various efforts to stave off a total economic collapse. Moratoriums and have been announced. Forbearance programs have been announced with little details as to how these programs will impact the average homeowner or renter. Publix just announced that it won’t charge rent to tenants in shopping centers it owns.
But as usual the devil is in the details. Delaying foreclosure when it shouldn’t have happened in the first place is not the answer. We all know that the Lorraine Brown guilty plea to falsifying over 1 million documents led to a 50 state settlement which netted homeowners a $300 check and maintained the use of falsified documents.
Rahm Emmanuel former Chief of Staff to president Obama said that every crisis should be also taken as an opportunity. This is our opportunity to get things right so we come back stronger instead of weaker from this ordeal.