Is Obamacare coupled with this pandemic going to sink Medicaid?

[BOHICA]

States being stretch to the max try to keep there Medicaid programs afloat with dropping tax revenues and Obamacare mandates.

https://www.msn.com/en-us/news/other/states-cut-medicaid-as-millions-of-jobless-workers-look-to-safety-net/ar-BB13Ehxi?li=BBnbcA1

Medicaid officials warn the gutting could be far worse this time, because program enrollment has swelled in recent years largely due to Obamacare’s expansion.

[Anler]

Fuck em, throw em all in the gutter. Thats the American way!

[Highmark]

States are fucked.   Tax revenue will massively decline and they can't print money.   Local govt's should be ok as most will keep up on property taxes.   

[spin_dry]

I’m sure trump has an idea to save it all. He’ll have his best people working on it. It’ll be tremendous. 

Edited May 6, 2020 by spin_dry

[BOHICA]

9 minutes ago, Highmark said:

States are fucked.   Tax revenue will massively decline and they can't print money.   Local govt's should be ok as most will keep up on property taxes.   

The fifth largest economy in the world is projected to have to cut education spending by 15%.  Going to be a lot of upset teachers!

[snoughnut]

39 minutes ago, Highmark said:

States are fucked.   Tax revenue will massively decline and they can't print money.   Local govt's should be ok as most will keep up on property taxes.   

What makes you so sure of that?

29 minutes ago, BOHICA said:

The fifth largest economy in the world is projected to have to cut education spending by 15%.  Going to be a lot of upset teachers!

To fucking bad, reality is a bitch.

[Angry ginger]

40 minutes ago, snoughnut said:

What makes you so sure of that?

To fucking bad, reality is a bitch.

mortgage company even for those not making their payments is still going to extend the taxes at least for this year.  for those who don't escrow or own their home they should be in the position to pay property taxes.  

[Mainecat]

1 hour ago, BOHICA said:

States being stretch to the max try to keep there Medicaid programs afloat with dropping tax revenues and Obamacare mandates.

https://www.msn.com/en-us/news/other/states-cut-medicaid-as-millions-of-jobless-workers-look-to-safety-net/ar-BB13Ehxi?li=BBnbcA1

Medicaid officials warn the gutting could be far worse this time, because program enrollment has swelled in recent years largely due to Obamacare’s expansion.

If Trump has his way it will be eliminated but so will dozens of Republican seats as well.

[snoughnut]

17 minutes ago, Angry ginger said:

mortgage company even for those not making their payments is still going to extend the taxes at least for this year.  for those who don't escrow or own their home they should be in the position to pay property taxes.  

Should? Tell that to the unemployed.

[Highmark]

16 hours ago, snoughnut said:

What makes you so sure of that?

To fucking bad, reality is a bitch.

Because your home is what you take care of first besides food when it comes to bills.   Between unemployment, the extra $600 and $1200+ from the govt people should be able to cover expenses for a few months.   This is if the states get off their ass and pay unemployment and this doesn't last deep into the summer.   If this goes into the fall then everything changes dramatically and I mean EVERYTHING. 

Edited May 7, 2020 by Highmark

[snoughnut]

1 minute ago, Highmark said:

Because your home is what you take care of first besides food when it comes to bills.   Between unemployment, the extra $600 and $1200+ from the govt people should be able to cover expenses for a few months.   This is if the states get off their ass and pay unemployment and this doesn't last deep into the summer.   If this goes into the fall then everything changes dramatically and I mean EVERYTHING. 

Exactly but when the shit really starts hitting the fan, property taxes can go fuck themselves.

[Highmark]

1 minute ago, snoughnut said:

Exactly but when the shit really starts hitting the fan, property taxes can go fuck themselves.

For many its paid as a part of your mortgage (escrow account) dude.   

[snoughnut]

14 minutes ago, Highmark said:

For many its paid as a part of your mortgage (escrow account) dude.   

I'm well aware of that but disciplined smart people don't escrow their taxes into their mortgage. 

[spin_dry]

27 minutes ago, snoughnut said:

Exactly but when the shit really starts hitting the fan, property taxes can go fuck themselves.

You’re talking about the break down of society. It’s possible. If that does occur some countries will fare better than others. I don’t see America doing well. Too divided by its nature. 

[spin_dry]

32 minutes ago, Highmark said:

Because your home is what you take care of first besides food when it comes to bills.   Between unemployment, the extra $600 and $1200+ from the govt people should be able to cover expenses for a few months.   This is if the states get off their ass and pay unemployment and this doesn't last deep into the summer.   If this goes into the fall then everything changes dramatically and I mean EVERYTHING. 

I liquidated all my rental properties during the last two weeks. 5 rental units and a 30 bin storage unit. My dentist bought the storage units so that was an easy sale. The rental units went for a little under value, but not too terribly bad. My plan was to totally cash out and have no real estate debt. I’m there. I don’t like where this is going. I’m grouchy. 

[Highmark]

9 minutes ago, snoughnut said:

I'm well aware of that but disciplined smart people don't escrow their taxes into their mortgage. 

Many don't have a choice.   The bank requires it so the person doesn't default on the taxes. 

[snoughnut]

15 minutes ago, Highmark said:

Many don't have a choice.   The bank requires it so the person doesn't default on the taxes. 

You have the choice but what you have to be careful of is the pricks will charge an escrow waiver fee. They tried doing that with me the last time I re financed, I told them to go pound sand.

[Angry ginger]

50 minutes ago, snoughnut said:

I'm well aware of that but disciplined smart people don't escrow their taxes into their mortgage. 

  

huge percentage escrow,   I don't because traditionally i was paid quarterly and 2 of the payments matched up with my taxes due date but i'd say 95% of my clients escrow.  

[Angry ginger]

22 minutes ago, snoughnut said:

You have the choice but what you have to be careful of is the pricks will charge an escrow waiver fee. They tried doing that with me the last time I re financed, I told them to go pound sand.

20% equity you have a choice,  the fee is a real cost to the lender but many times we will eat it.  Loan without escrows is riskier to the investors than one with as then they know the taxes and insurance will be paid so they pay a bit more for them.  

[racer254]

1 hour ago, spin_dry said:

I liquidated all my rental properties during the last two weeks. 5 rental units and a 30 bin storage unit. My dentist bought the storage units so that was an easy sale. The rental units went for a little under value, but not too terribly bad. My plan was to totally cash out and have no real estate debt. I’m there. I don’t like where this is going. I’m grouchy. 

In april you seemed to be in a different position.

 

[spin_dry]

2 hours ago, racer254 said:

In april you seemed to be in a different position.

 

I see things tumbling down faster than I ever could’ve imagined. I don’t see the government offering any protection for rental property owners now or in the future. The money is going to corporations. That’s all too obvious. I wasn’t willing to risk having half the units being rented by unemployed individuals. I’m done.