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What Now? Getting Back To "Normal"

Updated: Aug 9, 2022

A while back last year, I penned a blog about the light at the end of the tunnel. At that time, it looked like we might be headed towards some relief from the virus. Since then, we have seen the release of three vaccines, many states relaxing or even lifting restrictions, a new COVID relief package passed and some federal rulings in favor of landlords challenging extensions of the moratoriums on evictions and foreclosures.

The rulings on lifting the moratoriums are important. The moratorium has not only put some individual landlords in financial ruin, but in the long run it may put the tenants in worse shape than when they started. One of the good things about note investing is that we can at least offer more flexibility in the way of working with borrowers who may have fallen behind on their mortgage payments.

How is the renter going to pay their arrears? Did they lose their job? Did they get assistance from many of the state programs? Maybe they got a hefty stimulus payment? … Either way, it’s best not to stick your head in the sand if you’re behind on your rent or mortgage payments. Can you imagine if worked a job for a year and didn’t get paid? Well, it’s been the same for many small landlords and investors.

Some investors are foaming at the mouth at the thought of an influx of foreclosures when all of the courts begin processing again. But not so fast! It will probably take a couple of years to get to all of the backlog of evictions and foreclosures before we’ll see what will trickle down to note tapes.

It may not be as bad as we think either. Unemployment rates are currently moving closer to pre-pandemic levels. According to the Bureau of Labor Statistics, pre-pandemic unemployment (Feb 2020 was at 3.5%). As of this blog, unemployment stands at 5.7%, still a little high, but not at 7.2% like in 2008. Things are opening back up and that can only accelerate the road to normal.

As always, please continue to stay safe out there!

For more information on notes or if you have notes to sell, reach out to Zee at Awanna Holdings, LLC (571)659-5005. ©Awanna Holdings, LLC (Mar 2021-3) - NoVa Notes Meetup Group

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