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re: It's that time again How much that mortgage payment going up next year?
Posted on 12/11/24 at 9:07 am to PhiTiger1764
Posted on 12/11/24 at 9:07 am to PhiTiger1764
quote:
And for those with less than 20% equity, which is a lot of people, escrow required, not a choice. Thanks for admitting that.
You said they don’t have a choice lol. They do. Put 20% down and you don’t have to escrow. Never heard of a bank making you escrow if you put 20% down. If they did you should use another bank.
2
Posted on 12/11/24 at 9:08 am to Jcorye1
No mortgage, but I just got homeowners renewal. Metairie lakefront- $10,300. Citizens insurance, nobody else will write policy.
Posted on 12/11/24 at 9:13 am to notsince98
quote:
Did you mean escrow?
Of course he means escrow. Which gets paid as part of the monthly mortgage payment….. don’t be obtuse.
Posted on 12/11/24 at 9:15 am to Aguga
quote:
You said they don’t have a choice lol. They do. Put 20% down and you don’t have to escrow. Never heard of a bank making you escrow if you put 20% down. If they did you should use another bank.
Are you saying that no one should ever buy a home with less than 20% down or are you just dense? Or both?
Putting under 20% is a thing that happens, often. These people escrow and have no choice.
If you think people should never buy a home with less than 20% then that’s a different conversation - stupid one, but different.
Posted on 12/11/24 at 9:15 am to ghost2most
quote:
It's only going to get worse. Whether you believe in man made climate change or not, the climate is changing. I don't know why - maybe just a normal cycle, but regardless, there are more extreme storms. Live near the coast or water? Prepare for floods. Live in a dry climate, prepare for wild fires. Live in the interior, prepare for tornadoes. West coast - earthquakes, tsunamis and volcanoes. Not really anywhere to hide these days
Dear sweet baby Jesus save us from these anxiety ridden narcissists who believe that the world was perfectly safe and peaceful until the last 30 years.
Posted on 12/11/24 at 9:16 am to stout
quote:
If my rate wasn't so low, I would just pay the house off vs worrying about my monthly payment going up to cover the escrow
If your principal balance is low compared to the original loan amount, you can probably request to have escrow removed and just pay the insurance and property taxes yourself instead
Posted on 12/11/24 at 9:17 am to JohnnyKilroy
quote:
Who is the CEO of your homeowners insurance company?
Posted on 12/11/24 at 9:18 am to Henry Jones Jr
quote:
frick off
Climate is static in your world?
Posted on 12/11/24 at 9:19 am to GetCocky11
quote:
Just work harder.
You shouldn't have bought something you couldn't afford.
My first house had a 13% interest rate, suck it up.
Maybe try downsizing and putting in some sweat equity.
High quality bait
Posted on 12/11/24 at 9:23 am to VanRIch
quote:
Where did he say he couldn’t afford it? Just because someone can afford something doesn’t mean they shouldn’t be upset if the cost goes up. Gas went up. I can afford it but I’d like it to go down. This is dumbass take.
There are a group of boomers who post "suck it up, maybe you should manage your money better" type posts any time anyone brings up some economic issue. And we always get the "I walked uphill both ways in the snow" type retorts from them
Posted on 12/11/24 at 9:28 am to Aguga
quote:
Put 20% down and you don’t have to escrow
Genius, then the homeowner has to save what would have gone into escrow to pay taxes and insurance anyway. And if you don't escrow, wives will find a way to spend it anyway.
Posted on 12/11/24 at 9:30 am to LemmyLives
quote:
Genius, then the homeowner has to save what would have gone into escrow to pay taxes and insurance anyway. And if you don't escrow, wives will find a way to spend it anyway.
I’m not sure why we are giving a pass to being fiscally responsible. When you escrow you have a lot more flexibility with your money and insurance coverage.
Posted on 12/11/24 at 9:34 am to Aguga
quote:
When you escrow you have a lot more flexibility with your money and insurance coverage.
I don’t really need flexibility for money that is coming due within the next 12 months and handling your own insurance payments doesn’t change anything about the mortgage company’s coverage requirements.
Posted on 12/11/24 at 9:36 am to Aguga
20% down doesn’t mean you don’t have to escrow, it means you don’t have to pay PMI insurance
Posted on 12/11/24 at 9:46 am to ghost2most
quote:
there are more extreme storms.
Compared to when? This is an asinine statement considering Earth's history of storms.
quote:
Live near the coast or water? Prepare for floods.
What coast? Which areas?
quote:
Live in a dry climate, prepare for wild fires.
Or, you know, do controlled burns and clear brush from the forests. Majority of America's wildfires are preventable.
quote:
Live in the interior, prepare for tornadoes.
How is this any different from any other time in history?
quote:
West coast - earthquakes, tsunamis and volcanoes.
Earthquakes - It's called fault line, genius. Nothing to do with weather.
Tsunamis - See above
Volcanoes - 1) Pacific islanders are only affected, and extremely rare. 2) Again, dummy, not weather related, but geographic related.
Posted on 12/11/24 at 9:47 am to JohnnyKilroy
Climate naturally changes and has since the Earth formed. Humans have no major impact on that
Posted on 12/11/24 at 9:49 am to FLBooGoTigs1
I have no idea why, built my homeowners insurance went down $500, so my mortgage will be cheaper this year
Posted on 12/11/24 at 9:49 am to Henry Jones Jr
quote:
Climate naturally changes and has since the Earth formed.
So then why did you tell someone to frick off for simply saying that climate is changing?
The poster you told to frick off never claimed climate change was man made
Posted on 12/11/24 at 9:49 am to FLBooGoTigs1
Amazingly it looks like mine is going DOWN a few hundred bucks. I did switch homeowners half way through this year which looks like paid off. Flood and property taxes stayed the same/went up though.
Posted on 12/11/24 at 9:57 am to JohnnyKilroy
quote:
I don’t really need flexibility for money that is coming due within the next 12 months and handling your own insurance payments doesn’t change anything about the mortgage company’s coverage requirements
It does make it easier to shop and change insurance every year.
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