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Started By
Message
re: Nearly a Million Americans Fear Losing Their Home to Foreclosure in the next two months
Posted on 10/20/22 at 9:57 am to RogerTheShrubber
Posted on 10/20/22 at 9:57 am to RogerTheShrubber
quote:
If you're in a good position, the opportunity will be incredible though. Good chance to position yourself well going forward.
This is kinda what scares me.. If a good opportunity presented itself, I could pick up some property and use it as a rental. My two biggest concerns are if the renters totally trash the place causing thousands or tens of thousands of dollars in damages, or the government continues to do stupid things like passing laws where renters or squatters have more rights than the owners..
0
Posted on 10/20/22 at 9:57 am to lsu777
quote:
having your house paid off is not something to brag about when interest rates less than a year ago were under 3% and inflation was over 5%. now inflation is closer to 8%, essentially those people braggin about having a house paid off left free money on the table. in the case of a house, its serious money.
The free money is the 2k a month he is saving by not paying a mortgage anymore.
Posted on 10/20/22 at 9:58 am to 0
quote:
The free money is the 2k a month he is saving by not paying a mortgage anymore.
tell me you do not understand inflation without telling me you dont understand inflation
:rotflmao:
Posted on 10/20/22 at 9:59 am to Broke
quote:I don't see a way out for the FED. Hike rates and shrink balance sheet to project USD hegemony and tame inflation on one side. Keep rates static and continued QE and run the risk of losing USD global status, and with continued inflation the USD becomes the Argentine Peso on the other side.
Well I think the FED are a bunch of fricktards. I mean who raises fricking interest rates in a recessionary environment? The last time we did that we got the great depression. But with that said, their data compilations are good.
I think they'll try to split the baby and thus kill the economy and keep inflation sky high. It's the FED way.
Posted on 10/20/22 at 10:00 am to Pauvetibete
quote:
And quite a bit of those people went 2 years without paying mortgages. To bad they weren't smart enough to save some of that.
^ This. A buddy of mine I work with went almost 2 years not paying his mortgage. Didn't save a dime of that money and when his bill came due he had to refinance and add it all to the backend of his mortgage.
I understand some folks get hit hard with things out of their control but a lot of people just have no concept of saving money. This same buddy isn't putting anything into his 401k cause "he will be dead by 60 anyways". I tell him he's an idiot and he just laughs
Posted on 10/20/22 at 10:00 am to lsu777
quote:
lsu777
You're kinda being an arse in this thread.
Posted on 10/20/22 at 10:01 am to GetCocky11
quote:
You're kinda being an arse in this thread.
you think?
Posted on 10/20/22 at 10:18 am to lsu777
You don't know shite about my situation. You spew shite on matters you have no idea on. No money on the table. In my portfolio. I understand money. Have quite a bit of it.
Retired at 57. Comfortably. You on the other hand are still working waiting on the windfall to help you out. Enough of your shite.
the Dave Ramsey line was good though.
Retired at 57. Comfortably. You on the other hand are still working waiting on the windfall to help you out. Enough of your shite.
the Dave Ramsey line was good though.
Posted on 10/20/22 at 10:18 am to alpinetiger
quote:
don't see a way out for the FED. Hike rates and shrink balance sheet to project USD hegemony and tame inflation on one side. Keep rates static and continued QE and run the risk of losing USD global status, and with continued inflation the USD becomes the Argentine Peso on the other side.
I think they'll try to split the baby and thus kill the economy and keep inflation sky high. It's the FED way.
Tell me one single monetary move they have left in order to fix the economy..........Yeah
Posted on 10/20/22 at 10:22 am to canyon
quote:
You don't know shite about my situation. You spew shite on matters you have no idea on. No money on the table. In my portfolio. I understand money. Have quite a bit of it.
Retired at 57. Comfortably. You on the other hand are still working waiting on the windfall to help you out. Enough of your shite.
good for you buddy
seriously its awesome you are retired, but still makes more sense to have taken out a mortgage last year. now if you have determined for you that it is better for piece of mind to not have one and money left on the table be damned...cool. its worth it for you.
in that case, really wasnt talking abotu you i was more trolling some of the idiots on here that think any amount of debt is bad and only paying cash is good at a time that inflation is 8%.
and i was being an arse and obtuse....pretty much trolling but also trying to get some on here to understand and maybe think critically about things.
:cheers:
Posted on 10/20/22 at 10:27 am to Steadyhands
Yes but resorting to foreclosure means you can’t make the payment and can’t sell it for what you owe. Hence the stupid financial decision
Posted on 10/20/22 at 10:27 am to GetCocky11
quote:
Don't buy houses you can't afford just because rates were low.
This.
I fail to see how raising rates now correlates to people already behind on payments
Posted on 10/20/22 at 10:31 am to lsu777
quote:
im not being a douche
First posts in thread
quote:
maybe for you ....ssssssssssshhhhhhhhhhhhhhiiiiiiiiiiiittttttttttttttt.... I see opportunity. hoping it hits the florida gulf coast and the tenn mountain region around gatlinburg and SW missouri the hardest. Got vacation rentals i need to snatch up.
quote:
imagine being so inept with money that you think this is a good thing when less than a year ago a 30 year morg was below 3% and inflation is well over 5%
now imagine bragging about how inept you are :rotflmao: :rotflmao:
Totally not douchey. Dude you spazz out on here daily with posts like these.
It's hilarious you constantly mock people on here for having things paid off.
Posted on 10/20/22 at 10:44 am to stout
Posted on 10/20/22 at 10:47 am to Deactived
quote:
It's hilarious you constantly mock people on here for having things paid off.
He’s living the American dream in his McMansion crammed into that corner lot.
Posted on 10/20/22 at 10:59 am to redstick13
quote:
It's hilarious you constantly mock people on here for having things paid off.
not even close. i have plenty of things paid off. i laugh at those that insist its a great financial decision or should i say was as right now its a pretty good decision with current rates.
im just making fun of those that get on here that are poor yet get on here and preach about how dumb taking out certain loans are.
if you want to pay something off....go ahead, just do preach at others about how dumb they are with debt if you dont want to be called out on it.
quote:
He’s living the American dream
100% fact
quote:
crammed into that corner lot.
close enough but by choice
quote:
McMansion
:rotflmao:Posted on 10/20/22 at 11:05 am to lsu777
Where do you suggest investing the cash from the mortgage you take out on your paid off home that's costing 3% per year. The S&P? Gamestop? Ornamental Gourd futures?
Posted on 10/20/22 at 11:06 am to lsu777
quote:
im just making fun of those that get on here that are poor yet get on here and preach about how dumb taking out certain loans are.
All the other poster said was he was glad his properties were paid off
Posted on 10/20/22 at 11:09 am to stout
quote:
Nearly a Million Americans Fear Losing Their Home to Foreclosure in the next two months
Bidens* America
Posted on 10/20/22 at 11:09 am to jchamil
Hey man that completely justifies calling him a retard!!
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