Check Out Our Shop
Page 1090 of 1093 FirstFirst ... 1085 1086 1087 1088 1089 1090 1091 1092 1093 LastLast
Results 27,226 to 27,250 of 27313
  1. #27226
    Join Date
    Jan 2010
    Location
    your vacation
    Posts
    4,778
    Quote Originally Posted by Conundrum View Post
    Remember when Americans weren't fat and depressed, healthcare wasn't that expensive, claims were not that frequent nor as predictable as today, and health insurance was somewhat cheap? Was about 25 years ago when things started to turn.

    There's an analogy and some realism here. Insurance companies like turning a profit and nerds are pretty good at running numbers.
    spot on

    on another note

    got a client whose family is founder and majority shareholder of a regional bank they seem to be doing pretty well like a million bucks is nothing
    one of my ex's family sold their reginal bank off about ten years ago to a bigger bank that seemed to work out pretty well she's got about two million in stock for that deal they are also one of the largest landowners in the united states

    people don't really have a grasp of how much wealth some people have amassed

    the this guy is the best his family makes the trumps look like the trailer trash that they are


  2. #27227
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    10,587
    Apparently, that guy has over 20 kids.

  3. #27228
    Join Date
    Dec 2005
    Location
    STL
    Posts
    13,381
    Question for real estate tycoons.

    With rates through the roof, and people having 30 yr mortgages like I do at 3%. Isn’t this a good time to seller finance? Or can you actually transfer mortgage somehow?

    I get these postcards, and I assume thats their angle.

  4. #27229
    Join Date
    Nov 2002
    Posts
    8,961
    I think that would be more like Rent to Own like a sofa or big screen TV. Think about the title work and the lien positions. What's gonna happen to the buyer when you decide to go hookers and blow for life and quit paying the mortgage?

  5. #27230
    Join Date
    Feb 2015
    Location
    MA
    Posts
    4,547
    I’m not aware of a way to transfer or reassign a conventional mortgage. Inclined to say you can’t but I’m not sure.

  6. #27231
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    16,934
    You can seller finance with a mortgage in place, but all depends on the type of mortgage, clauses written into existing mortgage, etc. Call your current lender and ask them if you are eligible and if it's possible you would want to loop at RE attorney in as well and have the new contract written up to protect you as the seller.

  7. #27232
    Join Date
    Aug 2006
    Posts
    7,966
    I know you are a dirt pimp but this is ridiculous advice, at a minimum for any buyer willing to entertain it, and really for the "seller" involved as well.
    Live Free or Die

  8. #27233
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    14,016
    Quote Originally Posted by Self Jupiter View Post
    I’m not aware of a way to transfer or reassign a conventional mortgage. Inclined to say you can’t but I’m not sure.
    I mean - why would a bank ever want to allow this? Their loan is based on a *specific* piece of collateral. And the only time anyone would entertain this from a borrower's perspective is when market rates are higher than the current mortgage. Which again, begs the question - why would a bank ever consider this?

  9. #27234
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    14,016
    So are "land contracts" still a thing? My parents bought their farm back in the mid/late 70's on a land contract, and I presume it was because interest rates were ridonkulus at the time.

  10. #27235
    Join Date
    Feb 2008
    Posts
    2,829
    Quote Originally Posted by skaredshtles View Post
    So are "land contracts" still a thing? My parents bought their farm back in the mid/late 70's on a land contract, and I presume it was because interest rates were ridonkulus at the time.
    A friend asked if I would consider seller financing to sell our house to her. I laughed it off, seems like an unmitigated shit show.

  11. #27236
    Join Date
    Jun 2020
    Posts
    5,826
    NYTimea article about assumable mortgages (https://archive.ph/gwhfo):

    Click image for larger version. 

Name:	A4D99582-73D9-4F97-97FC-36A67E8A2E58.jpg 
Views:	44 
Size:	388.0 KB 
ID:	493639

  12. #27237
    Join Date
    Mar 2005
    Location
    Dystopia
    Posts
    21,457
    Yeah. No.
    Almost all Rez mortgages are bundled and sold off. Unpossible to assign.
    Even if it was a local bank portfolio loan, rates have gone up. They would rather finance the new rates.

    Interesting blurb that 23% are assumable. That’s shocking.

    However. Say it’s assumable. Are you released?

    PS. Seller finance? Fuck no. Hard no. Maybe ten k or some short term gravy. But if you have to foreclose the legal fees and lost payments will crush you.
    The only thing I would consider is a deed in lieu of foreclosure held in trust. But even that can be litigated and stuck court.
    I’ve just decided to be a middle aged somewhat depressed somewhat anxious fucktard until the end.

  13. #27238
    Join Date
    Oct 2002
    Location
    my own little world
    Posts
    5,931

    Real Estate Crash thread

    Assumable mortgages are a thing in that those words in that order describe something that theoretically exists, but it’s not really a thing. If you find one, cool, but don’t waste your time looking for one.

    It’s not because they’re bundled and sold, it’s because most investors explicitly don’t allow it for pretty good reasons and even if they did, your lender has zero motivation to make it happen for you.

    And unless it’s your great uncle or an old family friend or some such who owns some property free and clear and has some reason to help you out, land contracts aren’t much of a thing either.
    focus.

  14. #27239
    Join Date
    Apr 2006
    Posts
    7,988
    https://bozeman.craigslist.org/reo/d...746521294.html

    well shit is officially still bananas here

    would you like a rare opportunity to own a single wide in a floodplain w a 40 min commute to glitzy Bozeman Mt? act now, and hay, the seller says no insurance needed and seller financing may be an option. but make sure to have your ducks in a row, a thorough review of your shit will be happening

    jfc

  15. #27240
    Join Date
    Jan 2005
    Location
    Access to Granlibakken
    Posts
    11,338
    Lol
    Know of a pair of Fischer Ranger 107Ti 189s (new or used) for sale? PM me.

  16. #27241
    Join Date
    Dec 2005
    Posts
    2,340
    Any comments WRG? Who the fuck represents this type of sale? They should've at least talked about waterfowl opportunities and proximity to premier music venues and of course titty bars..

    Sent from my SM-S236DL using Tapatalk

  17. #27242
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    16,934
    Quote Originally Posted by AdironRider View Post
    I know you are a dirt pimp but this is ridiculous advice, at a minimum for any buyer willing to entertain it, and really for the "seller" involved as well.
    Not sure how it's ridiculous to advise someone to consult their lender and an attorney on something that is theoretically possible. It's largely out of the scope of my knowledge.

    Seller financing on a property owned outright? Yes, it is happening, but rarely.

  18. #27243
    Join Date
    Aug 2006
    Posts
    7,966
    Or you could just put down the realtor crack pipe and admit it is a terrible idea to even explore.

    This is a perfect example of why your career is going away. Every realtor's focus is just on getting a deal done and basically zero focus on looking out for your client's best interest.
    Live Free or Die

  19. #27244
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    3,778
    I thought this podcast was interesting- "The Possible Collapse of the US Home Insurance Industry"

    I expected a profile of a community in coastal Florida or a wildfire prone community in California, but allegedly a small town in Iowa is ground zero for insurance non-renewals.

  20. #27245
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,236
    Quote Originally Posted by Mustonen View Post
    Assumable mortgages are a thing in that those words in that order describe something that theoretically exists, but it’s not really a thing. If you find one, cool, but don’t waste your time looking for one.

    It’s not because they’re bundled and sold, it’s because most investors explicitly don’t allow it for pretty good reasons and even if they did, your lender has zero motivation to make it happen for you.

    And unless it’s your great uncle or an old family friend or some such who owns some property free and clear and has some reason to help you out, land contracts aren’t much of a thing either.
    If it is an existing FHA or VA loan it can be assumed by qualified buyer but that's it no conventional loans are assumable

  21. #27246
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    14,016
    Quote Originally Posted by Kevo View Post
    I thought this podcast was interesting- "The Possible Collapse of the US Home Insurance Industry"

    I expected a profile of a community in coastal Florida or a wildfire prone community in California, but allegedly a small town in Iowa is ground zero for insurance non-renewals.
    I suspect that derecho that went through Iowa a few years back really opened up some peoples' eyes as to what can be expected in the Midwest going forward.

  22. #27247
    Join Date
    Sep 2005
    Location
    Not in the PRB
    Posts
    33,271
    Sure is a good thing that global warming isn't a thing!
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
    "everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy

  23. #27248
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    14,016
    Quote Originally Posted by Danno View Post
    Sure is a good thing that global warming isn't a thing!
    tHaNkS AlOt, JoE BiDeN.

  24. #27249
    Join Date
    Dec 2005
    Location
    STL
    Posts
    13,381
    Thank you for the responses.

    Was told it goes up you’re credit too.

  25. #27250
    Join Date
    Oct 2002
    Location
    my own little world
    Posts
    5,931
    Quote Originally Posted by liv2ski View Post
    If it is an existing FHA or VA loan it can be assumed by qualified buyer but that's it no conventional loans are assumable
    Right. I shouldn’t say it’s impossible. But it narrows an already tough market to what I’d say is an untenable level, and even then you’d have to assume the market hasn’t priced it in. If the stars align, sure.
    focus.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •