Real Estate Crash thread

[Nobody Famous]

.
.snippeed
.
Yet they refuse to be deterred. So now on Saturday my daughter and I will be conducting a facetime tour for them. My daughter's gonna run the camera, they'll say where to go and what to look at, and I'll be there to answer any questions. Should be weird but who knows what will happen.

As our agent said, he's spent his entire career trying to get as many people into houses as possible, but now he's trying to figure out how to keep them out. We'll see what happens. I'm not holding my breath. But I would so take the money and run.

I'll be very interested in an after action report on the tour.

[Kinnikinnick]

Nope, WeWork didn't meet the conditions of the tender offer.
https://www.google.com/amp/s/techcru...rk-shares/amp/

That thing was always doomed.

Too much fluff. Small startups and solopreneurs paying rent that includes all those fancy perks and finishes? Who’s gonna make it without coldpressed coffee and snacks? Oh right, we just had a coffee machine, cokes in the fridge and takeout down the street when I did the startup thing. How did we ever make sales, product, and IPO without that?


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[Benny Profane]

Nope, WeWork didn't meet the conditions of the tender offer.
https://www.google.com/amp/s/techcru...rk-shares/amp/

Well, duh, like they met those terms a month ago?

[iceman]

I'll be very interested in an after action report on the tour.

Seems there may be some flaking going on. Didn't get a call we expected yesterday to confirm a time for the video tour and a late-day call from us to their agent hasn't been returned. Wouldn't be surprised to find there are financing issues.

[fastfred]

looks like your sol benny
https://www.vaildaily.com/news/will-...l-estate-bump/

[Kevo]

looks like your sol benny
https://www.vaildaily.com/news/will-...l-estate-bump/

Everyone's dream! Leave big city life in NYC and live within earshot of one of the busiest highways in the country while waiting in 3 hour long lift lines to ski two laps of 8 powder a few times per season.

[SuperGaper]

Holy shit, realtors, DAFUQ? (Been waiting for to use that word for about 6 months!)

[Benny Profane]

looks like your sol benny
https://www.vaildaily.com/news/will-...l-estate-bump/

More RE agents with nothing better to do than a few lines and call a reporter. Nothing else to do. Pump and dump.

[goldenboy]

Holy shit, realtors, DAFUQ? (Been waiting for to use that word for about 6 months!)

Holy crap, a SuperGaper post!

[fastfred]

Everyone's dream! Leave big city life in NYC and live within earshot of one of the busiest highways in the country while waiting in 3 hour long lift lines to ski two laps of 8 powder a few times per season.

Nailed it
Must like the smell of burning tractor trailer brakes

[BFD]

I am making sure I have some cash available. Pretty bullish on my zone. This is the longest I have ever stayed in the spring. Been a great place to sit out the virus.

[Benny Profane]

Everyone's dream! Leave big city life in NYC and live within earshot of one of the busiest highways in the country while waiting in 3 hour long lift lines to ski two laps of 8 powder a few times per season.

East coasters who have to deal with I95 scoff at you calling I70 busy.

[MakersTeleMark]

East coasters who have to deal with I95 scoff at you calling I70 busy.

There is never anyone in the left doing 60 on 95.

[yeahman]

Just got a 3-month forbearance on our mortgage with like 3 clicks of the mouse (Well Fargo). The payments will be added to the end of the mortgage. No interest penalties, no balloon payment, didn't have to show financial need or anything. Wow.

[Benny Profane]

Wells Fargo? Better check that they haven't opened five accounts in your name to make up for that.

[Dantheman]

Wow indeed. Any credit score implications? I'm still working (for now), but the temptation to hoard 3 months worth of payments just in case is strong if there's no credit rating hit (not that I have any plans to take out a loan any time soon, anyway).

[Name Redacted]

Wow indeed. Any credit score implications? I'm still working (for now), but the temptation to hoard 3 months worth of payments just in case is strong if there's no credit rating hit (not that I have any plans to take out a loan any time soon, anyway).

We have done the same thing on both of our homes but I'm pretty skeptical still. But yeah, three months no mortgage helps. I think that you have to show that you have had a loss of employment or something of that nature.

Homeowners hurt by COVID-19 can delay mortgage payments, but some say they're anxious and confused about the real cost
https://www.yahoo.com/finance/news/h...100101899.html

[altacoup]

I’m Wells Fargo on my mortgage. Also still working. But of gladly take the three months for now and if stuff gets back to normal I’d just put it right towards my principal then. Very curious as to the Wells Fargo requirements?

[snowaddict91]

I haven't made a payment on my refi yet, just closed a couple weeks ago, but it is through Wells Fargo. We are both still working but I'm also tempted to hold 3 months and then pay to principal or put it towards getting my truck paid off faster. Hmm.

[Dantheman]

Checked my mortgage co.'s site, definitely not as good as what WF is offering. Balloon payment or repayment plan. Probably still better than being a customer of those crooks at Wells Fargo

[yeahman]

This article explains it pretty well.

https://this.kiji.is/618490438084199...22757532812385

[altacoup]

Checked my mortgage co.'s site, definitely not as good as what WF is offering. Balloon payment or repayment plan. Probably still better than being a customer of those crooks at Wells Fargo

I was furious when I got the letter in the mail that Wells Fargo had bought out my mortgage from my original lender. Had no idea that was even possible but terms are the same.


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[snowaddict91]

I was furious when I got the letter in the mail that Wells Fargo had bought out my mortgage from my original lender. Had no idea that was even possible but terms are the same.


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They bought mine from my refinancer before I even made the first payment, I was pissed too. My last mortage went through 3 different lenders.

[concretejungle]

If our mortgage is WF there is no fucking way I am doing anything other than paying each month. Those guys will fuck you over six ways to Sunday if they can. My partner still has them for her personal bank and I mask a chuckle every time they fuck something up. Fuck them.

[altacoup]

Reading the linked article it says the law allows to deflect payment for a year, renewed every 90 days. Although lenders are asking for reason, the law doesn’t require you to give any reason. Just push back on them and say the law demands they accept the deferral. No interest penalties and you can chose how to repay missed payments. Lump some, added until end of mortgage, dispersed through out life of mortgage. For those fortunate enough to maintain a job this really turns into an government sponsored opportunity to pay down principal. Defer for a year, put each monthly payment in savings and pay down principal. If anything makes sense to ask for deferment if only to wait and see what other crazy rescue plans might come out.


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