Page 552 of 616 FirstFirst ... 547 548 549 550 551 552 553 554 555 556 557 ... LastLast
Results 13,776 to 13,800 of 15396
  1. #13776
    Join Date
    Aug 2020
    Posts
    410
    Also, since it hasnít been mentioned, this is typically spelled out in your mortgage documents, so you should review those before just trusting what the person on the other end of the phone tells you.

  2. #13777
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    23,842
    Quote Originally Posted by BCMtnHound View Post
    As much as this can suck personally, this is the sign of an equitable and successful negotiation.
    FWIW, I am in the natural resource extraction/wildland management sector and regularly sit at the table between granola munchers and cold-blooded capitalists, with a healthy side component of NIMBYism.
    I prefer to recreate alone.
    thro in the FN/ unceded lands/ tsilcotin decision and you either got a real headache or lots of workload forever depending on your POV
    Lee Lau - xxx-er is the laziest Asian canuck I know

  3. #13778
    Join Date
    Oct 2010
    Posts
    780
    Quote Originally Posted by montanaskier View Post
    Off the topic question:

    Can I get a new appraisal for my house then use the higher price to get rid of PMI?
    Some mortgages have a required amount of PMI time. When I was looking at low down payment mortgages most of them required 24mo of PMI even if it went over 80% Loan to value the day after sale.

  4. #13779
    Join Date
    Oct 2007
    Posts
    10,039
    Quote Originally Posted by montanaskier View Post
    Off the topic question:

    Can I get a new appraisal for my house then use the higher price to get rid of PMI? House was purchased for 650k, owe about 540k, would probably appraise for 1mill now. Iíd love to get that PMI money in my bank every month if possible.


    Sent from my iPhone using TGR Forums
    Damn dude, how old is your mortgage? You probably need to just refi and youíll lose the PMI in the process as well as get a lower payment, and lower rate. Chances are you wonít need an appraisal either. Unless Iím missing something and you donít want to refi for some reason.

  5. #13780
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    15,346
    Quote Originally Posted by old_newguy View Post
    Also, since it hasn’t been mentioned, this is typically spelled out in your mortgage documents, so you should review those before just trusting what the person on the other end of the phone tells you.
    The above is correct. Look for something like the below that spelled out the rules on your loan.

    Name:  Screenshot 2021-05-10 142659.png
Views: 350
Size:  223.3 KB
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  6. #13781
    Join Date
    Sep 2005
    Location
    PRB
    Posts
    25,930
    Quote Originally Posted by liv2ski View Post
    The above is correct. Look for something like the below that spelled out the rules on your loan.

    Name:  Screenshot 2021-05-10 142659.png
Views: 350
Size:  223.3 KB
    If that is the contract and I am reading it correctly, PMI can't be canceled even if an appraisal comes in hundreds of thousands higher?
    "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
    "I'd eat a bag of Dicks and wash it down with a Coke any day." - iceman

  7. #13782
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    15,346
    Nope, #4 refers to the appraisal being done. Granted, the wording sucks.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  8. #13783
    Join Date
    Sep 2005
    Location
    PRB
    Posts
    25,930
    Granted, I'm no contracts lawyer, but #4 sure doesn't read as if a borrower-provided appraisal can prove that PMI is no longer needed.
    "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
    "I'd eat a bag of Dicks and wash it down with a Coke any day." - iceman

  9. #13784
    Join Date
    Nov 2005
    Location
    Making the Bowl Great Again
    Posts
    13,243
    Quote Originally Posted by Falcon3 View Post
    Some mortgages have a required amount of PMI time. When I was looking at low down payment mortgages most of them required 24mo of PMI even if it went over 80% Loan to value the day after sale.
    I am not sure this is correct. My understanding is that federal law requires lenders to stop collecting PMI payments when your LTV is 78%, but the LTV is not based on current market price, it is based on the original appraisal.

    Edit: I agree with Danno. That's not what that says.

  10. #13785
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    14,099
    I hosted an open house this weekend for another agent. Really not necessary in this market, but was good to see who's out looking.

    One potential buyer was a couple in their late 40s/early 50s with their 20ish daughter looking for "starter homes" for her. The house (under contract basically right away) was listed at $630k lol.

    This is the America we live in. "Starter homes" worth 8-10x what our parents paid for their first homes.

  11. #13786
    Join Date
    Mar 2006
    Location
    Beaverton, OR
    Posts
    717
    Quote Originally Posted by Whiteroom_Guardian View Post
    I hosted an open house this weekend for another agent. Really not necessary in this market, but was good to see who's out looking.

    One potential buyer was a couple in their late 40s/early 50s with their 20ish daughter looking for "starter homes" for her. The house (under contract basically right away) was listed at $630k lol.

    This is the America we live in. "Starter homes" worth 8-10x what our parents paid for their first homes.
    I don't know....the starting pay for my parents profession has gone up 15x to match that 10x starter home price. Just one data point I know.

  12. #13787
    Join Date
    Mar 2006
    Posts
    17,443
    Houses in California up 100x since the early 70ís

  13. #13788
    Join Date
    Feb 2008
    Posts
    1,221
    Quote Originally Posted by 4matic View Post
    Houses in California up 100x since the early 70’s
    Yeah, that's literally true. Several of my aunts and uncles bought houses in the Bay Area suburbs for under $50k around 1970 +/- a bit. They've done pretty well for themselves, but on the other hand, they held on to the houses for 50 years too - it averages out to about 10% increase in value every year, which doesn't seem that crazy...at least until I checked out my own house and found out much my rate of appreciation has lagged theirs.

  14. #13789
    Join Date
    Nov 2005
    Location
    Down In A Hole, Up in the Sky
    Posts
    30,206
    My parents bought their first house in 1976 for $39k (Roland Park, Md). The zestimate now is about $850k.
    FWIW.
    They sold in 79, but I have no idea for how much.
    Then they bought a house in Westchester (5 bed 3 bath, walk to the train, etc) for $144k.
    Forum Cross Pollinator

  15. #13790
    Join Date
    Oct 2007
    Posts
    10,039
    Mom told me the other day that their first home in AL was $19K in the 70ís. It is now on the market for $39K. Guess California appreciated a little faster than Bama. Who knew?

  16. #13791
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    15,346
    Quote Originally Posted by 4matic View Post
    Houses in California up 100x since the early 70’s
    No, my mom bought a nice place in Glendale CA in 1975 for $60k. It is a $1.3M home now per Zillow.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  17. #13792
    Join Date
    Mar 2006
    Posts
    17,443

    Real Estate Crash thread

    Quote Originally Posted by liv2ski View Post
    No, my mom bought a nice place in Glendale CA in 1975 for $60k. It is a $1.3M home now per Zillow.
    900sf homes that sold for $8-$10k in crappy hoods are going for $800k+ now or more.

  18. #13793
    Join Date
    Sep 2010
    Location
    Tejas
    Posts
    7,788
    Quote Originally Posted by 4matic View Post
    900sf homes that sold for $8-$10k in crappy hoods are going for $800k+ now or more.
    I'll just say that they've gentrified the hell out of places like the LBC and Oakland. When I went to Oakland couple years back, the amount of man-bunned hipsters and trendy cafes there was jarring to say the least. NOT the places I remember from 20 years ago.

  19. #13794
    Join Date
    May 2006
    Location
    Eagle County
    Posts
    12,430
    Quote Originally Posted by Name Redacted View Post
    Damn dude, how old is your mortgage? You probably need to just refi and youíll lose the PMI in the process as well as get a lower payment, and lower rate. Chances are you wonít need an appraisal either. Unless Iím missing something and you donít want to refi for some reason.
    Turns out this is the way to go. Thanks for the input. I already had a low rate but looks like Iíll be able to get rid of PMI and be about 1200 less a month overall. Thatís a win.


    Sent from my iPhone using TGR Forums
    ROLL TIDE ROLL

  20. #13795
    Join Date
    May 2006
    Location
    Eagle County
    Posts
    12,430
    Quote Originally Posted by Name Redacted View Post
    Mom told me the other day that their first home in AL was $19K in the 70ís. It is now on the market for $39K. Guess California appreciated a little faster than Bama. Who knew?
    Bama is still really really cheap. You get on the coast or some nicer spots around Huntsville or Bham, and it gets more expensive but you can still find super cheap places and the places that are expensive are really BIG.


    Sent from my iPhone using TGR Forums
    ROLL TIDE ROLL

  21. #13796
    Join Date
    Oct 2008
    Location
    Wenatchee
    Posts
    9,206

    Real Estate Crash thread

    Quote Originally Posted by MontuckyFried View Post
    I'll just say that they've gentrified the hell out of places like the LBC and Oakland. When I went to Oakland couple years back, the amount of man-bunned hipsters and trendy cafes there was jarring to say the least. NOT the places I remember from 20 years ago.
    I lived in the east bay 20 years ago, you donít know what youíre talking about. The gentrification really took of in the early Ď90s. We moved on in 2003 because we couldnít handle the gentrification and outrageous housing prices. Thatís when the market really peaked in the bay. Things have increased but itís not like the run up of the lateí90s early aughts. Places were doubling in price after a couple years.


    Sent from my iPhone using TGR Forums

  22. #13797
    Join Date
    Oct 2007
    Posts
    10,039
    Quote Originally Posted by montanaskier View Post
    Turns out this is the way to go. Thanks for the input. I already had a low rate but looks like Iíll be able to get rid of PMI and be about 1200 less a month overall. Thatís a win.


    Sent from my iPhone using TGR Forums
    Awesome. $1200 is substantial.

  23. #13798
    Join Date
    Oct 2007
    Posts
    10,039
    Quote Originally Posted by montanaskier View Post
    Bama is still really really cheap. You get on the coast or some nicer spots around Huntsville or Bham, and it gets more expensive but you can still find super cheap places and the places that are expensive are really BIG.


    Sent from my iPhone using TGR Forums
    Yeah this was Talladega, apparently it was a nice neighborhood back then, but went downhill and stayed there. Kinda sad. Beautiful country in its own way.

  24. #13799
    Join Date
    Jan 2005
    Location
    cb, co
    Posts
    4,145
    Quote Originally Posted by montanaskier View Post
    Bama is still really really cheap. You get on the coast or some nicer spots around Huntsville or Bham, and it gets more expensive but you can still find super cheap places and the places that are expensive are really BIG.


    Sent from my iPhone using TGR Forums
    My brother is headed to Huntsville later this week for a vacation but also to look at rental investments. Sounds pretty cheap and Huntsville is expected to grow and has space force and some tech business.

  25. #13800
    Join Date
    May 2006
    Location
    Eagle County
    Posts
    12,430
    Quote Originally Posted by goldenboy View Post
    My brother is headed to Huntsville later this week for a vacation but also to look at rental investments. Sounds pretty cheap and Huntsville is expected to grow and has space force and some tech business.
    Huntsville is cheap but has some nice spots and itís growing like crazy. NASA has always been a big player there, and a nice school in UAH. We almost bought a rental house last year but the seller backed out last second. Always looking down that way.


    Sent from my iPhone using TGR Forums
    ROLL TIDE ROLL

Posting Permissions

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