Federal tax dollars to pay for delinquent mortgages in California – IOTW Report

Federal tax dollars to pay for delinquent mortgages in California

Just The News:

Thousands of California homeowners who fell behind on mortgage payments during the COVID-19 pandemic could receive relief grants as part of Gov. Gavin Newsom’s $1 billion plan that was federally approved on Monday.

The U.S. Department of Treasury on Monday backed Newsom’s $1 billion mortgage relief grant program, clearing the way for its launch in just a few weeks. The governor estimates that between 20,000 to 40,000 California homeowners could benefit from the program, dubbed the California Mortgage Relief Program.

“We are committed to supporting those hit hardest by the pandemic, and that includes homeowners who have fallen behind on their housing payments,” Newsom said in a statement Monday. “No one should have to live in fear of losing the roof over their head, so we’re stepping up to support struggling homeowners to get them the resources they need to cover past due mortgage payments.” more

12 Comments on Federal tax dollars to pay for delinquent mortgages in California

  1. Wealth transfer from productive Red states to fucked up lazy Blue ones.

    Expect more and worse. Productivity will be penalized, sloth will be rewarded, even lionized.

    …and I bet it won’t pay out for fired unvaxxed health care workers, either, these are ALWAYS Social Engineering tools as well…

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  2. Some call it Wealth transfer, I call it Looting the Treasury!
    Looting has become very popular today whether it’s by low-life thugs in the hood or high-level democRAT thugs in the Swamp!

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  3. “Wealth transfer from productive Red states to fucked up lazy Blue ones.”

    Um, no.

    First off I would bet that GOP voters in California pay way more federal taxes than those in your state, a safe bet since there are more GOP voters here than in any other state. I would also bet that most governors, even those in red states, have tapped the feds for some kind of covid mortgage relief.

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  4. If you give people the money to catch up on their mortgages they will blow it on cell phones, big screen tv’s, tires and rims, hair weaves and so on. These people were given 2000 a week in covid money and wasted that, why should do any different with this money.

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  5. Special Negro Rights Act of 2020:

    1. No longer have to obey criminal laws.

    2. No longer have pay rent.

    3. No longer have to pay mortgage.

    4. Entitled to “loans” they don’t have to have any intention of paying.

    5. Entitled to be openly racist towards all others with impunity.

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  6. New Trump income tax allowed mortgage deduction up to $400,000, and limited state tax deduction from federal to something like $10,000.

    California and others think they’re entitled. So there you go, $100 billion stolen.

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