Biden proposes to redress changes from the The Tax Cuts and Jobs Act of 2017. Here are the proposed changes by Biden:
Trump proposes to return Freddie Mac and Fannie Mae to private ownership. Biden proposes to focus Fannie Mae and Freddie Mac to increase apartment affordability which expands upon the current Fannie Mae Standard DUS mortgage criteria.
Fannie and Freddie don’t lend money directly to apartment owners. Instead, they buy mortgages from lenders, repackage them into securities and sell those securities to investors.
The investors are protected against losses by Fannie and Freddie’s guarantee backed by the Treasury Department.
The Freddie Small Balance Program is for 5+ multifamily units. Terms are $1 million to $5 million, 5 to 10years, max luv 80%, rates can be fixed and either balloon or roller over to a 20-year hybrid, up to 30-year amortization, rate locks up to 120-days, and assumable. In addition, replacement reserves and insurance escrow get waived and tax escrow gets waives for LTVs at or below 65%. To qualify, a borrower (aka the sponsor) must have a minimum 650 credit score, have a net worth equal to the loan amount, and liquidity equal to 9-months of debt service payments. These are non-recourse loans.
Blockchain seems to be that hot topic that everyone talks about but no one seems to understand. It feels like the pet-Internet days when new platforms are coming out every six months and they get better and better.
As I am going through this old town of Virginia City, I am reminded that I can virtually live entirely off of bitcoin. Uber to work. Eat at restaurants. Buy groceries at Whole Foods. Shop for clothes. Watch a movie. Take a trip. Pay employees and get them computers. Renovate my home. Buy a book. Get a concert ticket.
The easiest way to use bitcoin is to use BitPay to keep loading up your Amazon Gift Card and almost everything can be bought on Amazon. Here is a list of what I can spend bitcoins on.
(1) Travel including hotels, flights, cruises and rental cars. Check out Expedia and Cheap Air.
(2) Furniture. Check out Overstock.
(3) Computers, Software and Electronics. Check out Newegg, Dell, Intuit, Microsoft and Tiger Direct.
(4) Payroll. Check out BitWage.
(5) Use Gift Cards Any Retailer Through BitPay. Use bitcoin to refill Gift Cards to Amazon, AMC Theaters, Home Depot or Lowes, Amtrak, AutoZone, Bath and Body, Barnes and Nobles, Bed Bath & Beyond, World Market, tons of restaurants, Uber, Whole Foods, StubHub, etc.
(6) E-commerce. Check out Shopify.
(7) Buy ads to promote my business.