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Thread: Real Estate Crash thread
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04-04-2020, 06:51 AM #8551
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04-04-2020, 07:13 AM #8552
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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04-04-2020, 08:45 AM #8553
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04-04-2020, 08:51 AM #8554Funky But Chic
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04-04-2020, 06:13 PM #8555Registered User
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looks like your sol benny
https://www.vaildaily.com/news/will-...l-estate-bump/
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04-04-2020, 06:33 PM #8556
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04-04-2020, 06:40 PM #8557
Holy shit, realtors, DAFUQ? (Been waiting for to use that word for about 6 months!)
The market is dominated by fat skis largely because young toughs want what they see in videos: organ donors hucking into heliski bowls. -Seth Masia
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04-04-2020, 07:20 PM #8558
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04-04-2020, 07:34 PM #8559
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04-04-2020, 07:47 PM #8560Registered User
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04-04-2020, 07:52 PM #8561
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.
off your knees Louie
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04-04-2020, 08:04 PM #8562
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04-04-2020, 08:43 PM #8563
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04-06-2020, 01:14 PM #8564
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.
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04-06-2020, 01:20 PM #8565
Wells Fargo? Better check that they haven't opened five accounts in your name to make up for that.
Last edited by Benny Profane; 04-06-2020 at 01:41 PM.
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04-06-2020, 01:22 PM #8566
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).
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04-06-2020, 01:26 PM #8567Registered User
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- Oct 2007
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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
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04-06-2020, 01:29 PM #8568
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?
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04-06-2020, 01:44 PM #8569
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.
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04-06-2020, 03:03 PM #8570
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
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04-06-2020, 03:06 PM #8571
This article explains it pretty well.
https://this.kiji.is/618490438084199...22757532812385
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04-06-2020, 05:02 PM #8572
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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04-06-2020, 05:06 PM #8573
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04-06-2020, 05:37 PM #8574
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.
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04-06-2020, 06:07 PM #8575
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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