Are the payments repayable?????

[AlbertaFarmer5]

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for

Any relief for you?
Can imagine this is just the beginning, stay tuned, more to follow.

Welcome back.

I went through that yesterday and didn't see anything that would apply to our situation. But we aren't really in a situation either, looks to me like farmers are the least affected, and possibly stand to benefit from this in the end. Personally, having most of our crop out is a much bigger problem than the Covid 19, but farming in a high risk area as I do, I assume we will have catastrophe every year, budget accordingly, and in the rare event we don't have a disaster of some sort, it is a bonus.

Has anyone talked to their bank, do any of these mortgage and loan measures apply to farmers? And if they do, is it the bank taking the hit, or can they pass on the losses to the government( and back to us taxpayers)? Or is it just a chance to stop or reduce payments for a while, but interest keeps acrueing, being added on to the end of the loan instead?

[Guest]

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for

Any relief for you?
Can imagine this is just the beginning, stay tuned, more to follow.

Nice to see you again !!!!

[farmaholic]

Quote from link I posted

"Supporting Financial Market Liquidity

As a further proactive and coordinated measure to bolster the financial system and the Canadian economy, the government announced on March 16 that it is launching an Insured Mortgage Purchase Program (IMPP). Under this program, the government will purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC). This action will provide long-term stable funding to banks and mortgage lenders, help facilitate continued lending to Canadian consumers and businesses, and add liquidity to Canada’s mortgage market. Details of the terms of the purchase operations will be provided to lenders by CMHC later this week."

[AlbertaFarmer5]

It appears the new Farmaholic can be described this way:
edit, I seen he has lost his usual avatar May I suggest this one as a possible replacement.

[shtferbrains]

I'm sure we all can get the 10% wage rebate for any employees.

10% doesn't seem like that big of deal when you figure they are willing to pay $8000 for most to sit around for 4 MONTHS.

Does that mean they have 1 million++++ workers out of the job market for the next 4 months.

Will that witchy looking woman have the switch turned to OFF for that long?

She looks like she knows how to make bat soup.

[shtferbrains]

The Banks basically Pawn the mortgages they hold to the Government to get operating liquidity?

[Taiga]

Trudeau tweeted about the $5B to farmers 2 hours ago. Maybe some you who are into tweeting should reply to him your thoughts so all the non-farmers can see that it is just a loan and not free money like the others are getting.

[ajl]

Trudeau tweeted about the $5B to farmers 2 hours ago. Maybe some you who are into tweeting should reply to him your thoughts so all the non-farmers can see that it is just a loan and not free money like the others are getting.

It will end up being a grant to those defaulting on their payments. Watch for that.