The Moratorium on Evictions and Foreclosures

Moratorium on Evictions

The Moratorium on Evictions and Foreclosures

As far as I know, there’s never been a moratorium on evictions and foreclosures as widespread as the ones put in place in late March 2020 as a result of the Coronavirus pandemic.  The economy is suffering, which means a lot of people are losing their jobs and their income.

It doesn’t take long for loss of a regular income to affect tenants, landlords and mortgage lenders. It’s a pipeline through which an enormous flow of money has begun to dry up, at least temporarily. When one family cannot pay their monthly rent, it is a terrible situation for them, but it also starts a chain of events that is not good for a lot of other people either.

To stem the tide of an economic disaster, Congress passed a $2 trillion dollar stimulus package that is designed to help homeless people and to help renters whose income has been impacted by COVID-19. The stimulus may help some renters and homeowners, but it is not going to replace all the lost income that is and will be occurring. It will not replace all the income landlords and lenders are losing.

Should I Sell My House Now?

This could turn out to be a terrible time to sell my house if I simply list it with a real estate agent like most people do. I spoke to a couple agents lately and one of them said, “My phone hasn’t been ringing at all.” That’s not what a seller ever wants to hear from their agent. They want to know the agent is going to get to work and get the house sold.

So, I am considering other options besides selling through the multiple listing service with an agent. In these perilous times I need to consider all my alternatives, and I may need to sell my house by owner instead.

I need to think about how and where I’m going to advertise my house for sale. And once I figure out the best place to post photos and information about it, I need to understand what kind of buyer I’m really looking for. Do I have the patience to wait for a new buyer to apply for a mortgage and wait for loan approval? Or, do I need a cash buyer who can close quickly with their own money?

We Pay Fast Buys Houses for Cash

The more I think about it, the more I can see I need a cash buyer who can close on the sale of my house quickly. We Pay Fast professional buyers can do that. They communicate with sellers by phone, and once a sale price is agreed to, they produce all the paperwork and handle the whole closing process. They also pay all the closing costs, so all I have to do is collect my proceeds check.

Call We Pay Fast at 405-521-1807 or email for a call back within 24 hours if you are being negatively affected by the moratorium on evictions and foreclosures.