1. To Tenants: If the government says you don’t have to pay your rent and there’s a ban on evictions, you better do whatever you can to pay your rent. There will be major repercussions when evictions bans are lifted. Don’t think you’ll get a free ride out of this. PAY YOUR RENT! Your landlord has bills to pay too.
2. To Homeowners: If the government tells banks to stop mortgage payments, DO WHATEVER YOU CAN TO PAY YOUR MORTGAGE! Some lenders are saying you don’t have to pay for 3 months but on the 4th month, all four payments are due in full. Do not take a chance and not pay. Major foreclosures will come from all this. The banks didn’t help homeowners in 2008-09 and in 2020, it’s still the same. Pay your mortgage.
3. If the utility company suspends payments, you better PAY ANY AMOUNT YOU CAN! They are like banks, they will want ALL their money eventually and when all this clears up, you’ll owe an exuberant bill and still won’t have any utilities. Pay whatever you can.
4. If you get a government stimulus check, this check is to help pay your bills. That means you should pay your rent, your mortgage, your utilities, your insurance, your car payment...BILLS. This is not for frivolous spending.
5. The real problem is, many who will get the stimulus check....you won’t pay your bills then be crying and wailing saying, “They evicted me. They cut off my power, they repossessed my car...” All while you’re broke and carrying that empty purse you bought with your stimulus check.
There’s no such thing as free money....Be WISE!