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Bar Ran Dun posted:I’m worried about American’s gentrifying Portugal says man gentrifying Portugal. was my favorite England is doing it too
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Mar 18, 2023 06:29
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Bar Ran Dun posted:I’m worried about American’s gentrifying Portugal says man gentrifying Portugal. was my favorite darn them to heck
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Mar 18, 2023 08:36
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Yes I believe you can still have mortgage insurance (PMI) on a jumbo mortgage loan. It is a non-conforming loan so the lender can gently caress around a bit more with the numbers, but if you only put 5% down instead of 15-20% you may find yourself paying an extra $150 monthly. Do the math to determine if that's better or worse than waiting and saving. I am not an expert, please do your own comparison
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Mar 18, 2023 11:02
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I finally got windows in my $4,000 house after a 9 month wait, still waiting on water and gas tho..
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Mar 18, 2023 14:29
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palindrome posted:Yes I believe you can still have mortgage insurance (PMI) on a jumbo mortgage loan. It is a non-conforming loan so the lender can gently caress around a bit more with the numbers, but if you only put 5% down instead of 15-20% you may find yourself paying an extra $150 monthly. Do the math to determine if that's better or worse than waiting and saving. I am not an expert, please do your own comparison thank you r/personalfinance it’s less than 2k a year. that’s two thirds of a month of rent. paying pmi means you can actually get a house, you’ll never save 20%, and if you do somehow manage to amass $100,000, the interest rates will be even worse and you’ll lose all that in the first <10 years of repayments.
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Mar 18, 2023 15:03
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I don’t know if it’s my area, the finance calculators I’m using being poo poo, or what, but PMI here is more than 2/3rds of a month of mortgage. your overall point is well taken though, better to get in now with PMI than wait and be forever locked out.
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Mar 18, 2023 16:38
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housing prices should be higher
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Mar 18, 2023 16:40
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Ornery and Hornery posted:I don’t know if it’s my area, the That's crazy. Pmi is less than 5% of each monthly payment for us , but we do have really high ptoperty taxes so maybe that's part of it? It is kind of funny how much whining there was about the SALT changes trump did but it's mostly gone now Speaking of mortgage insurance, I found this on the ihda website The Illinois Homeowner Assistance Fund (ILHAF) provides up to $60,000 in mortgage assistance to eligible homeowners — paid directly to the servicer, taxing body or other approved entity. Eligible = in default or missing a bunch of payments or some such. Almost worth trying for a strategic default to get that kind of money. But just shows what a joke PMI is when it's supposed to cover the risk of default that this covers way easier mastershakeman has issued a correction as of 16:46 on Mar 18, 2023 |
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Mar 18, 2023 16:41
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*correction - I meant that the ANNUAL SUM of the PMI is higher than 2/3s of 1 month of mortgage
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Mar 18, 2023 16:58
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PMI mostly makes me wonder what the interest rate is supposed to cover if not risk of default?
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Mar 18, 2023 17:07
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Buffer posted:PMI mostly makes me wonder what the interest rate is supposed to cover if not risk of default? Inflation But yeah ask the same thing about student loans (especially the higher interest rate grad loans) lol
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Mar 18, 2023 17:13
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Buffer posted:PMI mostly makes me wonder what the interest rate is supposed to cover if not risk of default? their profit
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Mar 18, 2023 17:14
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Ammanas posted:100 billion bailouts for banks, 0% interest loans for big business, but 7% for consumers Yeah, interest rates aren't going anywhere now that they've "saved" the banks and all the noise around a pivot is some combination of cope and intentional manipulation. Housing prices won't necessarily always go up (although they mostly will), but affordability will always go down. Rates are also probably going to stay high for a while, which might legitimately lead to a crisis if a lot of people are overbuying with the intention of refinancing over the very short-term. I've already seen mortgage companies offering things like first-year interest rate discounts, too, which is going to trap even more people. Anyway, the fact that close to a quarter of the market is investors is a pretty good explanation for how so many expensive homes are still going up and selling. Those cash buyers guarantee buyers for existing homeowners, so there are plenty of people who can easily keep climbing the property ladder even if there aren't any traditional buyers that can afford their homes.
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Mar 18, 2023 17:23
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Twerk from Home posted:I'm in this same situation and it's honestly a little upsetting to me. I realize my extreme privilege to have been able to buy a house 6 years ago for half the price of now, then refinance it 3 years ago at insanely low interest rates, but also a lot of that is just that I'm getting older. very much the same situation here. constantly feels like I'm on the bottom rung of a rope ladder attached to a helicopter that is definitely not flying in a manner I have 100% faith in.
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Mar 18, 2023 17:49
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DR FRASIER KRANG posted:very much the same situation here. you have NO REASON to believe in this system anymore. it's a mass delusion.
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Mar 18, 2023 18:12
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Bar Ran Dun posted:I’m worried about American’s gentrifying Portugal says man gentrifying Portugal. was my favorite i'm worried about america petrifying
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Mar 18, 2023 18:15
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you best start believing in capitalism you're in it
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Mar 18, 2023 18:34
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I hope something happens but for as skeezy as a lot of the mortgage/finance industry is right now, it still seems like it’s not even close to the 00’s poo poo like NINJA loans
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Mar 18, 2023 19:05
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Ornery and Hornery posted:I hope something happens but for as skeezy as a lot of the mortgage/finance industry is right now, it still seems like it’s not even close to the 00’s poo poo like NINJA loans Yeah but ninjas haven’t been trendy for quite a while. They’re probably figuring out how to make ZOMBIE loans a thing
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Mar 18, 2023 19:14
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https://twitter.com/BusinessInsider/status/1637188180070875137?s=20
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Mar 18, 2023 23:56
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Bar Ran Dun posted:I’m worried about American’s gentrifying Portugal says man gentrifying Portugal. was my favorite I think it would be funny if former colonial powers were all colonized by other cultures
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Mar 19, 2023 05:46
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Spergin Morlock posted:I think it would be funny if former colonial powers were all colonized by other cultures I think I'd prefer that the dipshit American mortgage broker with a wife ten years younger than him got hit in the head with a brick instead, but I may be biased.
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Mar 19, 2023 05:53
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the Portugal one is the “graffiti” artist.
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Mar 19, 2023 06:12
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Pittsburgh Fentanyl Cloud posted:I think I'd prefer that the dipshit American mortgage broker with a wife ten years younger than him got hit in the head with a brick instead, but I may be biased. we can have both!
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Mar 19, 2023 08:20
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mastershakeman posted:that seems like a lot of work for an eagle scout don't they usually make mailboxes or some poo poo I redid the landscaping for a senior center. They'd had problems with people ripping out the plants and irrigation stuff to resell, so we went with bare gravel, rocks, and cacti.  Far as I know, it's still there.
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Mar 22, 2023 03:48
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Jedi425 posted:I redid the landscaping for a senior center. They'd had problems with people ripping out the plants and irrigation stuff to resell, so we went with bare gravel, rocks, and cacti. little old ladies falling over and getting stuck on a cactus. perfect
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Mar 22, 2023 16:20
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Mar 25, 2023 23:05
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lol it's such poison. housing is purely for investment purposes and not for a place to live.
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Mar 25, 2023 23:52
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not to diminish this at all but it’s everywhere every single town and up is infected with this 
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Mar 26, 2023 01:05
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Yeah I will rather stay in a hostel than ever sleep in an Airbnb
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Mar 26, 2023 01:08
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Celexi posted:Yeah I will rather stay in a hostel than ever sleep in an Airbnb Hostels are on Airbnb now
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Mar 26, 2023 08:38
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airbnbs used to be a cheaper option than a ~C hotel room (aloft, Courtyard) with some extra space, but now somehow they're the same price as a B- hotel (Sheraton/Delta tier) with fewer amenities even though there's 100x as many as there were in 2016. I don't even remember the last time I used one, probably 2016
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Mar 26, 2023 09:20
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when I did my backpacking trip you could book Airbnb's in (decrepit) hotels for $40 a day I left that place when my roommate disappeared and the pipes burst and they wouldn't give me a discount lol
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Mar 26, 2023 12:44
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They hide half the price of airbnbs behind fees that only show up once you try to book one. I've actually tried to stay at one a few times but could never afford the actual price once it showed up. I don't really understand how there are still so many of them and who is staying in them for those prices.
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Mar 26, 2023 16:10
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not only do they all have cleaning and other fees tacked on now, but many also come with specific orders to clean up before leaving, including taking out the trash, doing any dishes, cleaning the sheets, etc. If you don't do it all, they charge you even more. it's so loving ridiculous and I don't know of anyone who uses them anymore, but someone must. landlord brained poo poo
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Mar 26, 2023 16:14
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i remember when i visited paris in 2016 i stayed in this tiny little room with a very tiny bathroom, probably 100-150 SF total, but all I needed. very close to the eiffel tower and it was $30/night
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Mar 26, 2023 17:27
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Airbnb's are ridiculously priced and way more than they used to be, but so are hotels pretty much anywhere I have been for the last 15 years? Like I can't remember the last time I paid less than 200/night and there are also a ton of hidden taxes there. Not even for nice places. They both suck and have suffered insane inflation, and like everything else I have no idea how people afford it
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Mar 26, 2023 17:31
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*~*Whi$tfully Dreamy~*~* to have discretionary money
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Mar 26, 2023 18:15
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actionjackson posted:i remember when i visited paris in 2016 i stayed in this tiny little room with a very tiny bathroom, probably 100-150 SF total, but all I needed. very close to the eiffel tower and it was $30/night I was there in October 2015 and stayed in a similar room. It was in Place d' Italie and cost $95/night. It was one of the few rooms in the city under $100/night, and I booked it months in advance. Funny how I had to book a hotel room on the outskirts of Madison, WI last June and everything in that cluster was $180+/night. Just booked really nice rooms/apartments in Krakow/Budapest/Vienna/Prague for half that price or less. lol
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Mar 26, 2023 19:02
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Hotel costs are like half of the reason I go camping so often. It's the only affordable way to travel.
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Mar 26, 2023 19:23
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