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Millions of Americans Expect to Lose Their Homes as Covid Rages


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Also was watching a show and supposedly the covid mortgage relief is not making you Scott free the nonpayment are going on your credit report as non payment even though it is supposedly a govenment program deal ?

But it was a Nbc story so take it with a grain of sand . Prob just some bullshit heart string drama with a lot of missing parts about the people supposedly getting screwed 

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Around here people have flocked out of NY and NJ since March like we haven't seen since pre-2008.  Paid more than asking prices for used houses, and now can't build new ones fast enough.

Where's all the money coming from?  School taxes alone are anywhere from $4,000-$10,000 plus/year on what they're buying.  And who bought their shit in the city?  

Gonna be interesting in the next 2 years.  I see another forclosure process around the corner.

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2 minutes ago, steve from amherst said:

Fuck no. Taxes are too high here. 

Yeah, I hear ya'.

Where does someone go:

Affordability?

Climate? 

Taxes?

Politics?

Environmental concerns?

Available housing/land?

Recreational opportunity?

Level of population..too high?

Traffic woes?

 

I  have a old family friend, just dumped half a mill, storm-proofing their place off Ft. Myers. 

 

Lot to consider.

 

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25 minutes ago, steve from amherst said:

I wanted Monroe. Cheap taxes because eversource has 2 dams there. But wife wants to be within 45 min of Louden . Ill prolly end up in Gilmanton Iron works.

My helper has a second home in that area. Goes up quite often. Lives in Salisbury, but likes the family place up there. Has12 acres. 

Wife just retired also, don't know if they will move up permanently, but I know he really likes it up there, and probably would. 

 

Me personally................have been obsessed with Winni, since 1987. Don't know if or when that will ever play out. I know, 33 years, but there were mitigating circumstances. 

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1 minute ago, Polaris 550 said:

My helper has a second home in that area. Goes up quite often. Lives in Salisbury, but likes the family place up there. Has12 acres. 

Wife just retired also, don't know if they will move up permanently, but I know he really likes it up there, and probably would. 

 

Me personally................have been obsessed with Winni, since 1987. Don't know if or when that will ever play out. I know, 33 years, but there were mitigating circumstances. 

Too many people around there for me. Stepdaughter and grandaughter are in Louden. Family in Barnstead area. I think Gilmanton will work.

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27 minutes ago, racer254 said:

Biden will save us all.  LOL

So it's late in the fourth quarter. My ( R ) teams down by 6 million points give or take. 42 seconds on the clock. Do I take a knee or keep fighting? Asking for my friend Donald J Trump.

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8 hours ago, Ez ryder said:

Also was watching a show and supposedly the covid mortgage relief is not making you Scott free the nonpayment are going on your credit report as non payment even though it is supposedly a govenment program deal ?

But it was a Nbc story so take it with a grain of sand . Prob just some bullshit heart string drama with a lot of missing parts about the people supposedly getting screwed 

that is not true.  You do have to pay it back but it does not effect credit.  

If your in a Covid relief program your loan is noted as in forbearance so as lenders we an apply the proper protocol if they want a new loan but it does not effect credit if paid on time once payments restart.  Our requirement as a lender is pretty much a person who did the forbearance has to be back on track with 3 payments made.   Too many people who did not need it applied for forbearance because of the news scaring them.  

Right now this country could easily absorb any foreclosures that will happen given the tight RE market so if we are going to foreclose now is the time to get cracking.  In those low inventory market anyone who loses their house to foreclosure is a moron because they could easily sell and salvage their credit.  

 

 

Edited by Angry ginger
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24 minutes ago, steve from amherst said:

Too many people around there for me. Stepdaughter and grandaughter are in Louden. Family in Barnstead area. I think Gilmanton will work.

I know my helper likes it up there, so yeah. Hall Hill Road. Woods, farms, fields. Not too crowded. 

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Going to be alot of cheap stuff in a few years.  Everything these idiots have been buying and won't be able to afford will be astonishing. 

Hate to be one of those guys, but I am licking my chops waiting for the deals to come....

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Just now, Legend said:

Going to be alot of cheap stuff in a few years.  Everything these idiots have been buying and won't be able to afford will be astonishing. 

Hate to be one of those guys, but I am licking my chops waiting for the deals to come....

It appears to be the same shit right before 2008, I see alot of people with 40k+ vehicles and toys for every season, there's no way these people own all that shit free and clear. When the shit hits the fan most of these people will throw their hands in the air and cry,  saying "what happened"?  It's astonishing  how so many people have to learn the hard way. 

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2 minutes ago, snoughnut said:

It appears to be the same shit right before 2008, I see alot of people with 40k+ vehicles and toys for every season, there's no way these people own all that shit free and clear. When the shit hits the fan most of these people will throw their hands in the air and cry,  saying "what happened"?  It's astonishing  how so many people have to learn the hard way. 

Just like Donny does and did :snack:

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2 minutes ago, snoughnut said:

It appears to be the same shit right before 2008, I see alot of people with 40k+ vehicles and toys for every season, there's no way these people own all that shit free and clear. When the shit hits the fan most of these people will throw their hands in the air and cry,  saying "what happened"?  It's astonishing  how so many people have to learn the hard way. 

Unfortunately we bought our house in 2007. So it was worth quite a bit less then we paid for it for awhile. I won't be making that mistake again. Was alot younger then too.....

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1 minute ago, Legend said:

Unfortunately we bought our house in 2007. So it was worth quite a bit less then we paid for it for awhile. I won't be making that mistake again. Was alot younger then too.....

As I told a coworker when we discussed her buying a house that she closed on last week.  Right now any buy has to be considered a lifestyle buy because the easy money in RE value gains is gone.  She made more on what she's selling and in exchange paid more for what shes buying.  With 10+ years left before her kids will be gone it is IMO not a bad thing to do.  Anyone buying a house for a short period of time right now is foolish.  If i could convince the wife to sell I'd rent and wait to buy 2 houses when the market dips. 

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