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Who still has their xmas tree up?
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2019-01-17 at 1:35 PM UTC
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2019-01-17 at 2:38 PM UTCIf you don't pay property taxes the govt can take your house
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2019-01-17 at 3:50 PM UTCSoyboy IV: The Flower of Death and The Crystal of Life African Astronaut [the oppositely able-bodied hop-step-and-jump]
Originally posted by vindicktive vinny yea. and until you fully paid your mortgage, you dont own it. your just renting it from your bank.
That's quite rare. Mortgages usually make you take out income protection insurance, etc. to protect against serious illness, and if you can't pay do to lack of money banks will usually wait till you can as the costs of repossession are high and courts are friendly to homeowners, particularly when they have families. Also banks won't repossess in falling markets as doing so causes them to have to recognise a loss. Though sometimes prices fall massively and people walk away from their homes en mass, like in England in the 80s.
What happened in the mortgage crisis in 2008 in the US was unusual as it was mostly "minorities" who had mortgages out, and didn't service them. -
2019-01-17 at 3:51 PM UTCCouldnt be bothered with it this past season..wasn't feeling very festive.The following users say it would be alright if the author of this post didn't die in a fire!
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2019-01-17 at 3:52 PM UTCThe following users say it would be alright if the author of this post didn't die in a fire!
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2019-01-17 at 3:58 PM UTC
Originally posted by MORALLY SUPERIOR BEING IV: The Flower of Death and The Crystal of Life That's quite rare. Mortgages usually make you take out income protection insurance, etc. to protect against serious illness, and if you can't pay do to lack of money banks will usually wait till you can as the costs of repossession are high and courts are friendly to homeowners, particularly when they have families. Also banks won't repossess in falling markets as doing so causes them to have to recognise a loss. Though sometimes prices fall massively and people walk away from their homes en mass, like in England in the 80s.
What happened in the mortgage crisis in 2008 in the US was unusual as it was mostly "minorities" who had mortgages out, and didn't service them.
depends on where you live. but the basics are all the same. unless and until you settle all your loans, 'your' house technically belongs to the banks. and chances are if you want to renovate or modify your house, you probably need to get approvals from your bank.
because its theirs. -
2019-01-17 at 4 PM UTCLol @ ghosts pic, not vinny's nonsense
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2019-01-17 at 4:02 PM UTCBenefits of Renting is when the market takes a big shit, you lose your Job, You move with little problems.
When Carrying a Morgage in a downward market. you are stuck with a house if it goes into negative amertization. you owe more now. the loan plus the lost of the value of the house. your negative equity can affect your FICA score especially if you're trying to get credit cards or personal consolidation loans that are rejected. lowering your score 5 points each for soft pulls and 20 points for a hard pull. sometimes you get hit by banks looking to loan you money on soft pulls because they don't require your permission to pull them on you. dropping your FICA score 40 -80 points
In an up Market, it's a suckers roll to rent in a high density region where Jobs pay more but you can never save money because of the rent takes 80 percent of your money and food usually cost more. gas cost twice as much.
Owning a house in such a place with a growing population and need for house is a good way for you to sell and bail. take that money like the great migration out. 1/3rd of generations of Bay Areans moved to other states after making shitloads of money off their property.
the market cooled because of Trump. Property dropped 22 percent in value in some places just in the last 2 months. -
2019-01-17 at 4:09 PM UTC
Originally posted by SpaceCakes Benefits of Renting is when the market takes a big shit, you lose your Job, You move with little problems.
When Carrying a Morgage in a downward market. you are stuck with a house if it goes into negative amertization. you owe more now. the loan plus the lost of the value of the house. your negative equity can affect your FICA score especially if you're trying to get credit cards or personal consolidation loans that are rejected. lowering your score 5 points each for soft pulls and 20 points for a hard pull. sometimes you get hit by banks looking to loan you money on soft pulls because they don't require your permission to pull them on you. dropping your FICA score 40 -80 points
In an up Market, it's a suckers roll to rent in a high density region where Jobs pay more but you can never save money because of the rent takes 80 percent of your money and food usually cost more. gas cost twice as much.
Owning a house in such a place with a growing population and need for house is a good way for you to sell and bail. take that money like the great migration out. 1/3rd of generations of Bay Areans moved to other states after making shitloads of money off their property.
the market cooled because of Trump. Property dropped 22 percent in value in some places just in the last 2 months.
the market cooled becaus the fed raised interest rate. -
2019-01-17 at 4:53 PM UTC
Originally posted by vindicktive vinny the market cooled becaus the fed raised interest rate.
it's a bit of both. those rates aren't shit. We bought our first house at 9.5% which was a fraction over prime because we were young and didn't acquire much credit in our lives.
3-4 percent interest rates is really low. 6 percent isn't that bad.
Reagan years the rates were up near 12.The following users say it would be alright if the author of this post didn't die in a fire! -
2019-01-17 at 5:06 PM UTCStop buying million dollar homes in high density areas retards.
If you want cheap houses move to rural British Columbia. You can get an entire farm house and a few dozen acres for under $500k. My best gal pal and her hubby bought 13 acres for $100k and built their own house.
That's what I mean when I say I almost bought a house in my early 20's, look how damn cheap this is (granted it's a mobile home but actual houses aren't much more expensive)
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2019-01-17 at 7:07 PM UTC
Originally posted by Ghost Stop buying million dollar homes in high density areas retards.
If you want cheap houses move to rural British Columbia. You can get an entire farm house and a few dozen acres for under $500k. My best gal pal and her hubby bought 13 acres for $100k and built their own house.
That's what I mean when I say I almost bought a house in my early 20's, look how damn cheap this is (granted it's a mobile home but actual houses aren't much more expensive)
how the fuck is that mobile ? do you mean like it can be moved around ? -
2019-01-17 at 7:26 PM UTC
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2019-01-17 at 9:08 PM UTC
Originally posted by Ghost Stop buying million dollar homes in high density areas retards.
If you want cheap houses move to rural British Columbia. You can get an entire farm house and a few dozen acres for under $500k. My best gal pal and her hubby bought 13 acres for $100k and built their own house.
That's what I mean when I say I almost bought a house in my early 20's, look how damn cheap this is (granted it's a mobile home but actual houses aren't much more expensive)
Lord those prices are shit compared to the US -
2019-01-17 at 9:16 PM UTCI had to double check but I know SOMEONE in SOME STATE who sold 13 acres with a dilapidated (legally unlivable) 3br 2ba double wide. Has barn. Around 30k it sold for. Tons of cheap land in the south and also northwest/midwest.
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2019-01-17 at 10:15 PM UTC
Originally posted by GGG I had to double check but I know SOMEONE in SOME STATE who sold 13 acres with a dilapidated (legally unlivable) 3br 2ba double wide. Has barn. Around 30k it sold for. Tons of cheap land in the south and also northwest/midwest.
Yes, the states that get hammered with hail storms and tornados and huge bugs in the summer.
of course California is overdue for another Quake. It's pretty for now.
