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GoUSC
ParticipantI don’t buy “really flakey”. There is such a lack of personally responsibility in today’s society. So let me get this straight:
1. Buys a house he couldn’t afford.
2. Probably went into a toxic loan.
3. Either never read the loan documents or did read them, realized they were crap but assumed he could refinance.
4. Decided to stop paying his bills.
5. Got many noticed over 10 months but decided to tell the lender “Go To Hell” and continued to not payment.
6. Lender foreclosed on his deliquent ass.And now you/he feel he is entitled for $100k in equity? Get real.
ParticipantI have noticed a certain arrogance to the Prudential realtors I have met and discussed properties with. I wish you best in luck in closing (I am sure you will) but we in the RE biz all know how hard it can be to get things closed…
ParticipantI have noticed a certain arrogance to the Prudential realtors I have met and discussed properties with. I wish you best in luck in closing (I am sure you will) but we in the RE biz all know how hard it can be to get things closed…
ParticipantI disagree. I have developed several commercial properties on leased land and have noticed little to no different on the perm. loan rates. On a 99 year lease, there is no loss in property value after 30 years. It’s only when you get down to 20, 15, 10 years remaining on the ground lease that is becomes an issue. The last deal I did was a 30k sf retail project on a ground lease to the City of San Diego expiring in 60 years. The perm. loan rate was at market.
It might be completely different for residential housing but I doubt it. There are several residential projects in San Diego (Blackstone comes to mind) that are on long term leases that I know people have gotten typical loan rates on.
ParticipantI disagree. I have developed several commercial properties on leased land and have noticed little to no different on the perm. loan rates. On a 99 year lease, there is no loss in property value after 30 years. It’s only when you get down to 20, 15, 10 years remaining on the ground lease that is becomes an issue. The last deal I did was a 30k sf retail project on a ground lease to the City of San Diego expiring in 60 years. The perm. loan rate was at market.
It might be completely different for residential housing but I doubt it. There are several residential projects in San Diego (Blackstone comes to mind) that are on long term leases that I know people have gotten typical loan rates on.
ParticipantThey never seen to address the affordability index. They can say this but that still means the majority of the people can’t afford to buy the homes and there are no more speculators or investors from out of town buying homes anymore.
ParticipantThey never seen to address the affordability index. They can say this but that still means the majority of the people can’t afford to buy the homes and there are no more speculators or investors from out of town buying homes anymore.
ParticipantInvesters are dumping them and moving to treasuries and other safe investments. Not surprising but I am not getting excited over it until it starts impacting the rest of the market.
ParticipantInvesters are dumping them and moving to treasuries and other safe investments. Not surprising but I am not getting excited over it until it starts impacting the rest of the market.
ParticipantWell technically a government would never default on their T-Bills. They will just print more dollars to pay them off. Of course that dollar would be worth nothing at that point.
ParticipantWell technically a government would never default on their T-Bills. They will just print more dollars to pay them off. Of course that dollar would be worth nothing at that point.
ParticipantThanks very much! I knew diversification had some part in it… 🙂
ParticipantThanks very much! I knew diversification had some part in it… 🙂
ParticipantI don’t even think this thread deserves to continue. She is in a jam and coming to you asking for handout. Money and friends (or friends of friends) never mix. Humbly say no and move on. You will get burned.
Perfect example I know someone who loaned his (now ex) wife’s father $50,000 for his business. In exchange he was to be paid 12% interest and got a deed to the house. Now they are divorced, the guy stopped paying interest, and my friend is in line behind the first and second trust deed’s who’s balance owed is more than the house is worth. He isn’t going to see a penny.
Run don’t walk away from this.
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