I have actually seen landlords turn away rent because it wasn't for the full amount. Yes, there are people who will hold you to the strictest interpretation of what is going on and that is their right to do so. But does it serve or compliment the big picture? I have always accepted some rent as opposed to no rent and things work out
TITLE OF THE POST EXPLAINED
Now, saying all that, how hard is it to implement a program of reducing interest rates that are abnormally high to a more reasonable amount which in turn would lower payments and then we all can go on from there. If this program helps anyone, then it was a success.
CURRENT SYSTEM GIVING NO RESULTS
Doing nothing or maintaining the status quo between borrower/lender is proving to be an economy KILLER. We can operate by the strictest interpretations and accept that outcome or we can create an outcome or result more to our choosing. He who hesitates is lost applies here too
CAPITALISM REQUIRES MOVEMENT
Capitalism requires that the buck never stops but keeps moving thereby benefiting all who temporarily have it in their possession. Holding on to the buck only helps to create and supports.... a meltdown. Accepting no money from people in default and letting that take place for months and even years makes no sense at all. No income versus some income is a no brainer
Why not send a message of hope, of reconciliation and re-negotiation where all parties benefit? There is no reason why any loan mod request cannot begin with the question of.....Can we lower the interest rate and will that help this borrower?