Author Topic: Coronavirus Stimulus Aid Package  (Read 25614 times)

Offline hvaces42

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Re: Coronavirus Stimulus Aid Package
« Reply #225 on: March 30, 2020, 08:38:28 PM »
If an individual could be claimed as a dependent on someone's tax return then he cannot claim himself on his tax return and does not qualify for the stimulus payment. If I understand correctly, the final determination is on the 2020 tax return.
Whats the test for could?
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Offline Jack out of the box

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Offline churnbabychurn

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Re: Coronavirus Stimulus Aid Package
« Reply #227 on: March 31, 2020, 08:25:38 AM »
Ok this can indeed get problematic for me. But my understanding is that all the typical affiliate rules are being waived here. All theyíd be looking at is the 500 employee max.

They are using typical SBA affiliate rules that are more restrictive then the DOL rules for the 500 Employee test for the PPP

Offline churnbabychurn

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Re: Coronavirus Stimulus Aid Package
« Reply #228 on: March 31, 2020, 08:26:57 AM »
In the markets where I operate we had moratoriums 2 weeks ago. Iím not gonna blame the bill.

Bh most of our properties are Class A new construction. My worst case scenario models allow for around 35% collection loss before I need to call my lender. It was pretty rough last 2-3 years to find decently priced Class B-C assets with upside. My heart goes out to anyone who bought those assets in the last while. I sure hope they can execute their value add strategies in this environment successfully.

Which heimishe players donít make sure to have NOLís and get fee incomes elsewhere? Basics of the business...

Looks like the class A liberal young crowd will be the biggest problem here

https://apnews.com/1bd0dccae3f84e380af62b3dd91ee26e

Offline churnbabychurn

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Offline churnbabychurn

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Re: Coronavirus Stimulus Aid Package
« Reply #230 on: March 31, 2020, 08:30:19 AM »
The banks I spoke to all said they need at least 15 days to receive guidance from the SBA on how to process these, and then internally more time as well..

Anyone have a different experience?

Offline YesThatsMe

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Re: Coronavirus Stimulus Aid Package
« Reply #231 on: March 31, 2020, 08:51:44 AM »
The banks I spoke to all said they need at least 15 days to receive guidance from the SBA on how to process these, and then internally more time as well..

Anyone have a different experience?

My banker preemptively called me yesterday and said he would love to work with me on this loan. He put me at number 3 on his list to call the moment heís taking apps. He said that internally he heard funding can be as early as next week. I still plan on shopping around though, gotta maximize this thing.

Itís a community bank based in IN.


Offline AsherO

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Re: Coronavirus Stimulus Aid Package
« Reply #233 on: March 31, 2020, 10:42:47 AM »
The banks I spoke to all said they need at least 15 days to receive guidance from the SBA on how to process these, and then internally more time as well..

Anyone have a different experience?

Might depend on a banks compliance department and their agility.
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Offline cgr

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Offline thebudgetdeals

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Re: Coronavirus Stimulus Aid Package
« Reply #235 on: March 31, 2020, 11:46:24 AM »
Why should I be the first one to apply? let others be the sheep, and once knows all the ins and out will go ahead and apply

Offline churnbabychurn

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Re: Coronavirus Stimulus Aid Package
« Reply #236 on: March 31, 2020, 11:48:37 AM »
Might depend on a banks compliance department and their agility.

+1

Also heard me that the individual bankers mostly wont be incentivized to get these done because they are not really originating or bringing in the customer.. its all relationship based.

The banks themselves are trying to figure out their commission structure under the bill..

Offline churnbabychurn

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Re: Coronavirus Stimulus Aid Package
« Reply #237 on: March 31, 2020, 11:49:05 AM »
Why should I be the first one to apply? let others be the sheep, and once knows all the ins and out will go ahead and apply
True. There is a lot of hype about funds running out but i dont think its real..

Offline thebudgetdeals

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Re: Coronavirus Stimulus Aid Package
« Reply #238 on: March 31, 2020, 12:09:11 PM »
As long as trump still needs to win the elections he will approve even a 5T package if it runs out from money :-*

Offline Yammer

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Re: Coronavirus Stimulus Aid Package
« Reply #239 on: March 31, 2020, 12:15:52 PM »
As long as trump still needs to win the elections he will approve even a 5T package if it runs out from money :-*
There will definitely be another package..


The $2 trillion stimulus package that passed the US Senate Wednesday will allow homeowners hurt by the health crisis to postpone mortgage payments for up to 12 months. That mirrors moves announced last weekby mortgage giants Fannie Mae and Freddie Mac

https://amp.cnn.com/cnn/2020/03/26/business/mortgage-payment-coronavirus-stimulus-federal-reserve/index.html