Real Estate Crash thread

[mcphee]

Well thats quite the projection. Youre the one playing up a holier than thou attitude here.

It’s not a projection. You’re a smug fuck in most threads including your initial post above.

Holier than thou is stating my opinion on property taxes funding school districts is unequal? That’s you projecting, guy.

[Joey Joe Joe Junior Shabadoo]

I think we would see far greater benefit from funding immersive and extended afterschool programs and the like to provide a substitute for a stable home environment that prioritizes and models good behavior. programs that go from 3pm-8pm, not 3pm-5pm. The current school situation isn't causing the cycle of poverty/addiction/abuse, its the other 17 hours of the day where the kids are learning it.

My sister was a special ed teacher for many years in crappy districts in South Carolina and Alabama and she would echo this sentiment. School was often the most stable thing in her students lives and she always said Friday afternoons were the worst because the kids would act out in anticipation of a weekend where they didn't always know where their parents might be or even where their next full meal was coming from. And that isn't an indictment of their parents either, most were well meaning but often single parents working multiple jobs without extra time or resources for their kids. I would agree that figuring out how to help these kids and their families the other 17 hours of the day is where the solution lies.

[californiagrown]

that isn't an indictment of their parents either, most were well meaning

Agreed with with your post including the above, but thats the thing. in the cycle of poverty/addiction/abuse the parents are usually well meaning, its rare for a parent to knowingly harm their kid. But ditching the kids on the weekend to get high is protecting them from the addiction, bringing home different men (no matter how shitty) is a way to help support the family and give the kids father figures, being abusive is just discipline and manners, conflict resolution through violence is teaching them to stand up for themselves, having the oldest kid make dinner and care for siblings instead of doing schoolwork is prioritizing family as the most important thing etc, etc. Its a whole host of good intentions, but the way they get there is shitty and it was learned from the previous generation.

But providing this outside govt funded daycare sure sounds an awful lot like cultural whitewashing and authoritarian overreach to many folks. So that combined with the added tax burden on people whose kids are not directly benefitted means its a no-go.

So for now, the smart play is to buy the shittiest house in the nicest area you can... or that general strategy.

[liv2ski]

Boy this thread went to shit...
Talk about depressing.

[californiagrown]

Boy this thread went to shit...
Talk about depressing.

To get it back on track...

If i have a homeloan at a nice low interest rate, but want to move and buy another house, is there a way to essentially transfer over that same home loan so i can keep the low interest rate? If this was possible i bet we would see a lot more movement in the RE market as a lot of people locked in big loans at low rates and are afraid of moving and losing that small mortgage payment.

[mcphee]

“Can I have my cake and eat it too?”

[californiagrown]

“Can I have my cake and eat it too?”

So you dont know?

[mcphee]

If your current lender allows porting you can keep your current interest rate on your current home’s term and balance but you pay current interest rates on the difference on your new home.

[liv2ski]

To get it back on track...

If i have a homeloan at a nice low interest rate, but want to move and buy another house, is there a way to essentially transfer over that same home loan so i can keep the low interest rate? If this was possible i bet we would see a lot more movement in the RE market as a lot of people locked in big loans at low rates and are afraid of moving and losing that small mortgage payment.

CG, I have never seen that feature on a residential loan in all my years in the biz. So I would say no way.

[AdironRider]

Yeah, not going to be possible. Closest in concept would be a fixed rate HELOC on the current property, but you would have needed to set that up during the lower interest rate environment.

[mcphee]

Contrary to what the useless middlemen above are telling you, here’s some links if you don’t believe me

https://www.nerdwallet.com/uk/mortga...ng-a-mortgage/

https://smartasset.com/mortgage/how-...-transfer-work

https://www.forbes.com/uk/advisor/mo...ng-a-mortgage/

[Iowagriz]

Technically, both sides are correct.

Where does the OP live?


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[californiagrown]

Technically, both sides are correct.

Where does the OP live?


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Washington state... so you're saying there's a chance!

[mcphee]

Contrary to what the useless middlemen above are telling you, here’s some links if you don’t believe me

https://www.nerdwallet.com/uk/mortga...ng-a-mortgage/

https://smartasset.com/mortgage/how-...-transfer-work

https://www.forbes.com/uk/advisor/mo...ng-a-mortgage/

Hey, you fucking moran, maybe if you read the articles more carefully or even the URL’s, you’d see they’re were written for the fucking Brits. Fuckinidiot

[Danno]

Why are you so angry. Smoke some weed, chill.

[liv2ski]

Why are you so angry. Smoke some weed, chill.

That guy is such a cunt. An expert of nothing, giving useless Brit info to a USA question. Welcome to ignore douche nutz.

[CarlMega]

Hey, you fucking moran, maybe if you read the articles more carefully or even the URL’s, you’d see they’re were written for the fucking Brits. Fuckinidiot

Was this a glitch in the matrix, alias screw up or inside joke? I'd just like to know so I don't worry that I'm having a stroke or flashback.

[Mustonen]

Washington state... so you're saying there's a chance!

No. There isn’t a chance. It isn’t a thing for your mortgage in WA. I promise you.

[Flyoverland Captive]

I’ve looked into porting; nobody in the US is gonna do it. What possible incentive would they have? My mortgage guy said he gets asked a lot, but is not a thing here.

[ötzi]

Was this a glitch in the matrix, alias screw up or inside joke? I'd just like to know so I don't worry that I'm having a stroke or flashback.

it's odd

[mcphee]

Why are you so angry. Smoke some weed, chill.

That guy is such a cunt. An expert of nothing, giving useless Brit info to a USA question. Welcome to ignore douche nutz.

Was this a glitch in the matrix, alias screw up or inside joke? I'd just like to know so I don't worry that I'm having a stroke or flashback.

Wasn’t that serious. I realized my mistake and was being self deprecating about it, jokingly. I will chill out on here.

[ötzi]

Ah. Well, then.

[californiagrown]

No. There isn’t a chance. It isn’t a thing for your mortgage in WA. I promise you.

Yeah, chances probably 1 in a million. Hence the dumb and dumber reference haha.


Does anyone offer blended rate mortgages that take into account the old loan and rate and average that into the new principle/rate? Or am I now just beating a dead horse?

[Danno]

The horse is so dead it's glue.

[Mustonen]

The rate is the rate. Nobody giving you a new loan cares about your rate on your old loan.