Babyvet:


I think the term unrealistic is more benefiting, my base hourly is hourly rate is much higher than his even I would not even make such posts. Right now with this corona virus , a lot people are being fired or furloughed from their jobs. The stimulus bill that they passed America would grant one time payment $1200 to tax payers who earn less than $75,000. And much less to people who earn above that , is the Canadian government giving anything to the people ?

salford1:

Yes. The Canadian government is actually more generous. Qualified people laid off due to Covid would get $2k for 4months from the federal gov. Provincial governments also have I believe one time payments from around $800 to $1200. I believe they are topping up child benefits parents too.
Over 1.6m people have already applied for EI just last week. The $2k is to prevent people from overwhelming the EI application system in place. The system wasn't built for an enormous amount of job loss.

Fhemmmy:


While the Canadian government has tried, they did NOT do enough with landlords on how to pay the mortgage of their rental properties and that is my bone of contention, also, what happened to qualified that has a little kids but not laid off and yet weren't qualified to collect child benefit?
The FG went online promising lots of goodies but never explain better making tenants now abusing the privilege leaving landlords scrambling

salford1:

I am trying to understand the whole thing sef. From the goodies given to affected workers, some minimum wage essentials services workers not laid off but kept by there employer are going to be making less than some people sat in front of their TV at home. Lol.

Rental properties do not qualify for the 6months pause. In addition, the 6 months mortgage pause is kind of greed on the part of banks, as it would only extend the term of the mortgage while still paying interest all through the 6months. In addition, to the extension of term, it's also paying interest on interest. They have found a cunny way of making money off people that are already down and would be trying to recover from financial stress caused by Covid. I was discussing about the rent issue this morning that some tenant, even though can afford to pay would stilldeliberately withold rent, only to pack out 6months after with paying zilch.

When all this is over, I expect taxes to go up. All these monies have to come from somewhere.

salford1:

Yes. The Canadian government is actually more generous. Qualified people laid off due to Covid would get $2k for 4months from the federal gov. Provincial governments also have I believe one time payments from around $800 to $1200. I believe they are topping up child benefits parents too.
Over 1.6m people have already applied for EI just last week. The $2k is to prevent people from overwhelming the EI application system in place. The system wasn't built for an enormous amount of job loss.

Fhemmmy:


The people that sits by the TV all day make money BUT it is not forever, imagine such people at old age when there is no pension funds for them
The only thing i hate about the deferment of mortgage that i can't stand if the fact that it WILL affect your credit score and that is a huge problem and also, please note that any mortgage that is delayed will have to be repaid and probably within 3 months, now imagine a mortgage of 2500/month and you delay for 3 months, how will such catch up . . .
So there are lots of issue with it
Canada as of today is running a deficit of 120B dollars and for sure we will have to pay that money back and that for sure means increase in tax at come point or cutting some stuff soon.
But let us at least get out of COVID-19 saga first BUT i hope the government can extend hand of goodies to hardworking people that have NOT lost their job

ttmacoy:
No the Canadian government is not more generous than the US here, the $1200 is a one off stimulus payment and should not be compared to the $2k in Canada.

The right comprison is the US federal government is also providing $600 a week in addition to the normal unemployment benefit Of about $400 a week taking it to $1000 a week for 4 months.

So in total that’s $4k a month ($5k for a month with 5 weeks).

In addition the stimulus payment is per adult so a qualifying family of 4 will get $1200 for each adult plus $500 for each kid totaling $3400 one off payment.

Babyvet

ttmacoy:
I will be surprised if the deferment of the mortgage affects your credit score if it is agree with the bank. The score is based on what the bank reports so if you and the bank agree to defer based on the current circumstances I would be surprised if they report negative data to the bureau’s. I’ll research and come back to verify.

Some banks allow you to take a credit card payment holiday for a few months, it doesn’t have a negative impact on score if it is within the agreed conditions.

On another hand deferring will result in more in wrest paid overall as it will build up over time. It may be worth it for some but good to be aware, Deferring does not waive interest accumulation.

Fhemmmy:


If there was no accumulated interest and credit scores effect, many would have ran to the bank to do it, especially if the property is an investment property . . .Please investigate and come back with result, however, i will appreciate if you actually call your bank and talk to them about it BUT hopefully it is one of he big 5

salford1:

Oh I see. Babyvet made it seem what Americans receive is just the one off payment.

ttmacoy:
Sorry if I wasn’t clear, i meant where will be accumulated interest but yeah I agree people need to speak with their bankS hence why I said I will be suprised if they report negatively after you agree with them.

I’m in the US not Canada and even when I log into Chase and Boa apps they have notices saying to call if experiencing hardship etc.

Fhemmmy:


Ok and please make sure you stay safe because your government is calling for almost 200,000 Americans to die from the virus . . .

ttmacoy:
Thanks been working from home for over 2 weeks now, trying to avoid crowds and exposure.

The 200k figure was a worse case estimate, I don’t believe the actual numbers will be close to those numbers but we definitely need to take the lockdown serious once and for all.

ttmacoy:
Thanks been working from home for over 2 weeks now, trying to avoid crowds and exposure.

The 200k figure was a worse case estimate, I don’t believe the actual numbers will be close to those numbers but we definitely need to take the lockdown serious once and for all.

Fhemmmy:


With a FG like you have, i am afraid worst case could be the order of the day in USA, thank goodness for good governors doing all possible to protect their citizen . . . Lol

atutupoyoyo2211:
i've got a question, i know the qualifications for E.I., but does every one not working cos of the COVID qualify for the emergency benefit? This question is for those in Canada

atutupoyoyo2211:
i've got a question, i know the qualifications for E.I., but does every one not working cos of the COVID qualify for the emergency benefit? This question is for those in Canada

sistaj:
I 100% agree with the OP's claims on his income and that of his sister who saved said sum working as a PSW because I can personally relate. I know someone who saved more than said sum after taxes while studying and paid fees of about 30k for a period of 20 months. It is simply about the hours you put in. You have to put in very long hours and work different jobs. It can be tiring and not the lifestyle one would want for the long term but some people actually love it and don't mind accumulating the $$. I know someone who has two homes. One fully paid for now and the second a rental property still being paid for who has made a career as a psw. I cringe at the the statements calling him out as a liar which is taking things too far. How can anyone be so sure of something they have not experienced? I don't think the op has anything to gain by lying to impress strangers. He is only trying to motivate people by sharing his personal experiences. I have been putting off reacting to the naysayers for a lonnggg time but I just have to say this now.

oluayebenz:


We need personal experience not I know this I know that pls

sistaj:

So his own personal experience is not enough and my own personal experience is not enough as well. Maybe you should try to put in similar hours in same job and see. Then you will have your very own personal experience.

oluayebenz:


Show me that part pls I couldn't find it

sistaj:

Believe what you want to believe but he has been gracious and very open to even show receipts, yet doubters are doubting. I have nothing to prove to you or anyone for that matter or anything to gain by telling fibs. What I said earlier about earnings is very true.

sistaj:

So his own personal experience is not enough and my own personal experience is not enough as well. Maybe you should try to put in similar hours in same job and see. Then you will have your very own personal experience.

bily:


It's sad.
Even if OP posts his account statement, they will still say it's a lie.
They are claiming they want facts and when the facts are provided, they keep shifting the goal post.
He even posted his tax returns to prove he made up to 100k as a security guard with overtime which they initially said wasn't possible, quoting average earnings.
Now the goal post is shifting from he can't make the amount to he can't save the amount.

Let me continue with my popcorn and keep enjoying the show

Babyvet:


Actually I reread his post again , he sister worked part time , so how was she saving that much while working part time? Now he wants to message you privately , simple things like this should be said openly unless they’re hiding something.

atutupoyoyo2211:
i've got a question, i know the qualifications for E.I., but does every one not working cos of the COVID qualify for the emergency benefit? This question is for those in Canada

Babyvet:


You sha like to argue. I said a average , I did not say all, plus I provided proof. Of course some would earn above like a Nigerian American physician . I work in the health care field myself , unless your mid level provider ( like nurse practitioner or physician assistant ) or physician it’s not easy to make six figures without overtime , unless you live in a high cost of living state that’s pays well for base salaries like California .

Babyvet:


I think the term unrealistic is more benefiting, my base hourly is hourly rate is much higher than his even I would not even make such posts. Right now with this corona virus , a lot people are being fired or furloughed from their jobs. The stimulus bill that they passed America would grant one time payment $1200 to tax payers who earn less than $75,000. And much less to people who earn above that , is the Canadian government giving anything to the people ?