
Italy suspends mortgage payments amid corona lockdown - surfer77
https://www.independent.co.uk/news/world/europe/coronavirus-italy-economy-mortgage-payments-symptoms-lockdown-latest-a9389486.html
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beAbU
How common is it to pay mortgage/rent in person in other parts of the world? I
would think that something as serious as a mortgage payment would
automatically be deducted from the payer's bank account so they don't have to
worry about it. Or am I assuming too much?

What about other recurring services that also has to be paid?

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bennyelv
Mortgage payments are being suspended to ease the financial burden on people
rather than because people make payment in person.

Two banks in the UK have already voluntarily announced similar measures. Not
that it's a particularly altruistic measure - payment holidays result in more
interest being paid over the lifetime of the mortgage...

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beAbU
It's still a strange thing to do for me. Dunno. Maybe I'm tone-deaf.

Are people not allowed to work, thus not getting salaries during this month,
thus needing the payment holiday?

What about those who are in a position to still earn a salary during this
time, like remote workers. Are they now forced to not pay their mortgage, or
can they pay like normally?

Like you said, the interest on that one payment holiday is shocking!

Below calcs are for my home country, South Africa:

R1,000,000 loan, 20 year mortgage, results in a ~R9,700/month payment.
Skipping one month within the first two years of this term results in
additional interest of more than R60,000 and extending the term by at least 7
months.

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beatgammit
The article states that the country is on lockdown, and there are fines for
violating that. I assume a very significant portion of the workforce cannot
work from home, and I didn't see anything about pay being continued if you
can't work.

I don't know anything else about the state of things, but I'm sure automated
systems and things that can be done remotely are allowed to continue, so if
you want to pay your mortgage, I'm sure you can continue to do so.

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quaquaqua1
Would love to see my rent payments suspended. Am I elligible to join the
protected class?

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rogerkirkness
I doubt they would do it that way. I suspect you could just stop paying and
not be evicted.

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blackrock
Must be nice. What about the poor renter schmucks?

