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re: 7.7% of Mortgages Now in Forbearance

Posted on 5/9/20 at 12:53 pm to
Posted by Hamma1122
Member since Sep 2016
22573 posts
Posted on 5/9/20 at 12:53 pm to
Gotcha
Posted by Dawgwithnoname
NE Louisiana
Member since Dec 2019
4278 posts
Posted on 5/9/20 at 12:54 pm to
quote:

The number of people renting before this was already hitting record numbers.


This shows how unintelligent we have become as a society.

"Do I want to invest in something for my future or my landlord's?" well, mortgages are scary, so I'll let Mr. Landlord worry about that and I'll pay the note for him.

Morons.
Posted by Powerman
Member since Jan 2004
175708 posts
Posted on 5/9/20 at 12:59 pm to
quote:


Pics?

She's very attractive but not posting her pics on a public forum
Posted by dgnx6
Member since Feb 2006
91718 posts
Posted on 5/9/20 at 1:07 pm to
quote:

Good time to buy a house then or the complete opposite?




Wondering this too. I know nothing of this stuff. I don't want to take advantage of people's misfortune, but frick it's not my fault houses were too expensive when I finally got out of school and started working full time.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 5/9/20 at 1:07 pm to
quote:

This shows how unintelligent we have become as a society.

"Do I want to invest in something for my future or my landlord's?" well, mortgages are scary, so I'll let Mr. Landlord worry about that and I'll pay the note for him.

Morons.


I don’t think you realize the point you’re making here. Nor do you address the more transient nature of our younger generations who are of home buying age.
Posted by BearsFan
Member since Mar 2016
1286 posts
Posted on 5/9/20 at 1:09 pm to
quote:

I don’t think you realize the point you’re making here. Nor do you address the more transient nature of our younger generations who are of home buying age.



Yes. People don't all work for one company in one town for 30 years anymore.
Posted by dgnx6
Member since Feb 2006
91718 posts
Posted on 5/9/20 at 1:09 pm to
quote:

This shows how unintelligent we have become as a society.

"Do I want to invest in something for my future or my landlord's?" well, mortgages are scary, so I'll let Mr. Landlord worry about that and I'll pay the note for him.

Morons.


I am? I live and work in Nola. Was never going to be permanent. I just didn't see a point in buying a $400k home when I'm single and a fricking hurricane could come anytime and make it unliveable.
Posted by HECM62
NOLA
Member since May 2016
550 posts
Posted on 5/9/20 at 1:10 pm to
I agree 100%. When I got out of college, my goal was to save as much as I could towards a down payment. Did it in 2 years. People today don’t get it.
Posted by Powerman
Member since Jan 2004
175708 posts
Posted on 5/9/20 at 1:10 pm to
quote:

Nor do you address the more transient nature of our younger generations who are of home buying age.



Mobility is certainly more important now than ever

I'm actually thinking of selling my house and renting for that very reason
Posted by jclem11
Chief Nihilist
Member since Nov 2011
10040 posts
Posted on 5/9/20 at 1:11 pm to
quote:

This shows how unintelligent we have become as a society.

"Do I want to invest in something for my future or my landlord's?" well, mortgages are scary, so I'll let Mr. Landlord worry about that and I'll pay the note for him.

Morons.


Oversimplistic take leaving out all the nuance. Just what I come to the OT for.

Stupid poors just need to work harder and pull themselves up by their bootstraps like I did.
Posted by chalmetteowl
Chalmette
Member since Jan 2008
55428 posts
Posted on 5/9/20 at 1:15 pm to
quote:

And we did it to ourselves.

Our citizens, in a blind panic, marched right to this cliff and threw themselves over, while telling the government “thank you”.
so this isn’t happening to the rest of the world?
Posted by chalmetteowl
Chalmette
Member since Jan 2008
55428 posts
Posted on 5/9/20 at 1:19 pm to
quote:

Yes. People don't all work for one company in one town for 30 years anymore.
the point you’re really trying to make is that people have less ability to guarantee that they’ll make $50,000ish a year than they used to. Even the ones who are educated and go-getters
This post was edited on 5/9/20 at 1:20 pm
Posted by Scruffy
Kansas City
Member since Jul 2011
78053 posts
Posted on 5/9/20 at 1:22 pm to
quote:

so this isn’t happening to the rest of the world?
That doesn’t defend it as a good idea.

The fact that everyone decided on the wrong course of action does not justify it in any way.
Posted by Scruffy
Kansas City
Member since Jul 2011
78053 posts
Posted on 5/9/20 at 1:24 pm to
(no message)
This post was edited on 6/9/20 at 1:31 pm
Posted by Jinglebob
Member since Jan 2020
948 posts
Posted on 5/9/20 at 1:25 pm to
If it saves one 85 year old with diabetes life.

You monster.

Owning a home is a privilege, being able to live in a nursing home until age 95 is a right.
Posted by lsuconnman
Baton rouge
Member since Feb 2007
5588 posts
Posted on 5/9/20 at 1:31 pm to
quote:

My husband works for a loan servicer. He is working out our home currently. Nearly every call is related to forbearance. I asked him how often he dealt with these calls in the past. He said maybe 2 a month pre COVID, now it's about ten a day. We are in trouble as a nation


There’s probably a lot of people being proactive. If you can pause your mortgage payments without penalty, why wouldn’t you? Also, if it looks like you can’t pay your bills, who knows what kind of bailout might be available in the near future.
Posted by HempHead
Big Sky Country
Member since Mar 2011
56775 posts
Posted on 5/9/20 at 1:32 pm to
quote:

Waiters at say a high-end steak house pulling in $100K is pretty common in some cities. I know the ones at Capital Grille in Vegas kill it.



I made more money bartending at North River during law school than I make as an attorney.
Posted by tirebiter
7K R&G chile land aka SF
Member since Oct 2006
11051 posts
Posted on 5/9/20 at 1:36 pm to
It's not like there weren't a lot of bad operators in the nursing home sector, death rates from poor quality of care were well known. Doubt the virus has made a big impact that wasn't going to happen. Actually might lead to improved future care.
Posted by KemoSabe65
70605
Member since Mar 2018
7558 posts
Posted on 5/9/20 at 1:39 pm to
I have a billion $ zimbawe note on my desk at the office so I’m a billionaire.
Posted by OMLandshark
Member since Apr 2009
120445 posts
Posted on 5/9/20 at 1:40 pm to
quote:

So, in other words we took a situation that was going to be bad, made it SIGNIFICANTLY worse, and it may end up having a housing crisis worse than 2007 piled on top of it.

Great.

Amazing.

Well done, everyone.

You did it.

Couldn’t have asked for a better job from our citizens and politicians.


Yep. The government sucks at everything. If this situation can’t convince you to go libertarian, nothing will.
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