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The White House has proposed that real estate foreclosures not occur for a period of time...

The White House has proposed that real estate foreclosures not occur for a period of time due to the fallout from the covid-19 virus. The Governor of CA has signed an order directing this in Ca. How does that change the value of the real estate, the promissory note that represents the debt for the mortgage and the position of the lender?

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Answer #1

In case foreclosures of real estates stop, it will have following effects on the value of:

1. Real Estate- As the real estate could be sold in the near future, it should be recognised at fair value/market value. Any increase/ decrease in the fair value will be reflected in the value of real estate.

2. Promissory note- The value of Promissory note (representing debt for mortgage) will increase due to rise in the late fees because of non payment of principal and interest amount.

3.Position of lender- Lender's position will worsen as he will not be able to foreclose the loan due to non payment of loan.

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