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| 12:59 PM | ||
| Users Online Now: 2,037 (Who's On?) | Visitors Today: 737,703 | |
| Pageviews Today: 1,291,363 | Threads Today: 419 | Posts Today: 8,667 |
| 12:59 PM | ||
Tidal Wave' Of Delinquent Mortgages Set To Surpass Great Recession | |
| Anonymous Coward User ID: 71596998  United States05/18/2020 08:46 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 78445863 United States05/18/2020 08:47 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 72554708 United States05/18/2020 08:53 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward (OP) User ID: 71596998 United States05/18/2020 08:57 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 78927427 United States05/18/2020 09:03 AM Report Abusive Post Report Copyright Violation | [link to www.zerohedge.com (secure)] Quoting: Anonymous Coward 71596998 With nearly 4 million homeowners in some type of mortgage forbearance plan - representing 7.54% of all mortgages, delinquencies are set to eclipse the great recession which peaked at 10%. According to a new report from UK-based forecasting firm Oxford Economics, 15% of homeowners will fall behind on their monthly mortgage payments in a 'tidal wave' of delinquencies. An while the pace of requests for forbearance has slowed in recent weeks - however that could change. "Although the pace of forbearance requests slowed this week, call volume picked up — which could be a sign that more borrowers are calling in to check their options now that May due dates have arrived," said Mortgage Bankers Association chief economist, Mike Fratantoni. Human Nature 101: If you offer people free money they will apply for it, whether they truly need it or not. If you offer people free food, they will show up to get it, whether they need it or not. If you offer people forbearance on their financial obligations, they will apply for them, whether they need them or not. The number of applicants is not indicative of a growing problem, its only indicative of human nature. In the old Soviet Union, if people saw a line, they would go and stand in in without even knowing what the line was for.  |
| Anonymous Coward User ID: 78695251 United States05/18/2020 09:27 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 61629722 United States05/18/2020 09:31 AM Report Abusive Post Report Copyright Violation | I guess my question is, how many of those are on the mortgage plan because they can, and not because they have a legitimate need? Quoting: GA Girl Right here, fuck that 3 payments going to the back of the loan 23 years from now. Only an idiot would pay their mortgage now. I don't want anything tacked on. I want it paid off so I continue to pay. |
| hatch battener User ID: 59485936 United States05/18/2020 09:37 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 78695251 United States05/18/2020 09:46 AM Report Abusive Post Report Copyright Violation | I guess my question is, how many of those are on the mortgage plan because they can, and not because they have a legitimate need? Quoting: GA Girl Right here, fuck that 3 payments going to the back of the loan 23 years from now. Only an idiot would pay their mortgage now. I don't want anything tacked on. I want it paid off so I continue to pay. Unless you die before you pay it off then you lost 2X. Take it now and enjoy it. |
| Anonymous Coward User ID: 61629722 United States05/18/2020 09:48 AM Report Abusive Post Report Copyright Violation | I guess my question is, how many of those are on the mortgage plan because they can, and not because they have a legitimate need? Quoting: GA Girl Right here, fuck that 3 payments going to the back of the loan 23 years from now. Only an idiot would pay their mortgage now. I don't want anything tacked on. I want it paid off so I continue to pay. Unless you die before you pay it off then you lost 2X. Take it now and enjoy it. I'm leaving it to my kids..more for them |
Tess.
 User ID: 78431975  Ireland05/18/2020 11:04 AM  Report Abusive Post Report Copyright Violation | Civilisation is at a crossroads "Unfortunately the Barbarians dwell among us and our country is grown so weak and pathetic that the Barbarians must be appeased in the name of diversity and cultural sensitivity" ~ Allison Pearson |
| Anonymous Coward User ID: 75773625 United States05/18/2020 11:06 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 78886157 United States05/18/2020 11:07 AM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 78695251 Right here, fuck that 3 payments going to the back of the loan 23 years from now. Only an idiot would pay their mortgage now. I don't want anything tacked on. I want it paid off so I continue to pay. Unless you die before you pay it off then you lost 2X. Take it now and enjoy it. I'm leaving it to my kids..more for them Funny thing is that you're leaving them a liability ! Taxes will keep going up ! |
| Anonymous Coward User ID: 61629722 United States05/18/2020 11:08 AM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 61629722 I don't want anything tacked on. I want it paid off so I continue to pay. Unless you die before you pay it off then you lost 2X. Take it now and enjoy it. I'm leaving it to my kids..more for them Funny thing is that you're leaving them a liability ! Taxes will keep going up ! your not a math wiz..I have a lot of equity in it. They can sell and cash out..or keep..their call |
| Anonymous Coward User ID: 78320030 United States05/18/2020 11:09 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 78320030 United States05/18/2020 11:11 AM Report Abusive Post Report Copyright Violation | |
| Flying Elvii
User ID: 68199120 United States05/18/2020 11:11 AM  Report Abusive Post Report Copyright Violation | I guess my question is, how many of those are on the mortgage plan because they can, and not because they have a legitimate need? Quoting: GA Girl Right here, fuck that 3 payments going to the back of the loan 23 years from now. Only an idiot would pay their mortgage now. This.... You are an idiot if you did not take advantage of not paying the mortgage for three months, No matter your finances. |
| Anonymous Coward User ID: 78925642 United States05/18/2020 11:14 AM Report Abusive Post Report Copyright Violation | [link to www.zerohedge.com (secure)] Quoting: Anonymous Coward 71596998 With nearly 4 million homeowners in some type of mortgage forbearance plan - representing 7.54% of all mortgages, delinquencies are set to eclipse the great recession which peaked at 10%. According to a new report from UK-based forecasting firm Oxford Economics, 15% of homeowners will fall behind on their monthly mortgage payments in a 'tidal wave' of delinquencies. An while the pace of requests for forbearance has slowed in recent weeks - however that could change. "Although the pace of forbearance requests slowed this week, call volume picked up — which could be a sign that more borrowers are calling in to check their options now that May due dates have arrived," said Mortgage Bankers Association chief economist, Mike Fratantoni. i don't know why, but i was short on money and my fucking god every....single...step of the way, you are going through some shabooboo , trying to make it as difficult as possible, what in the fuck, or some LYING f*ggot or some evil bitch,the banks send the loan off to collections, the collections organizations of these banks are absolute CRIMINAL FILTH, |
| Anonymous Coward User ID: 78778252 United States05/18/2020 11:22 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 78785183 United States05/18/2020 11:45 AM Report Abusive Post Report Copyright Violation | I guess my question is, how many of those are on the mortgage plan because they can, and not because they have a legitimate need? Quoting: GA Girl According to Moody's analytics,around 15 million households, may stop paying if the US economy remains closed through the summer or beyond. so,they stop payin and we,the people,the tax payin people are stuck w/their bills? again ? |
| Anonymous Coward User ID: 76538212 United States05/18/2020 11:47 AM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 78695251 Unless you die before you pay it off then you lost 2X. Take it now and enjoy it. I'm leaving it to my kids..more for them Funny thing is that you're leaving them a liability ! Taxes will keep going up ! your not a math wiz..I have a lot of equity in it. They can sell and cash out..or keep..their call You're just leaving them a reason to dislike each other later. I'm a retired estate layer secretary. I can't possibly count how sour disputes turn after a parent dies One will want to keep "Dad's" home but the other will want to cash out, eventually lawyers get called in and the estate winds up completely being liquidated just to pay attorney's fees. It's wise to have a clause stating that in the case of dispute by inheritors then state your final decision. You could even choose to have the home be put up for lease to a rental manager and provide life long income percent to each inheritor and they would never worry about property taxes or house repairs. |
| Anonymous Coward User ID: 78214803 United States05/18/2020 11:49 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 76077369 United States05/18/2020 11:53 AM Report Abusive Post Report Copyright Violation | |
| jkm1864
User ID: 77810344 United States05/18/2020 12:03 PM Report Abusive Post Report Copyright Violation | I guess my question is, how many of those are on the mortgage plan because they can, and not because they have a legitimate need? Quoting: GA Girl Right here, fuck that 3 payments going to the back of the loan 23 years from now. Only an idiot would pay their mortgage now. My loan is current and I've been laid off since February so I can't understand why people are backed up. Pussy Grabber Extraordinaire |
| Anonymous Coward User ID: 77376498 United States05/18/2020 12:19 PM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 61629722 I don't want anything tacked on. I want it paid off so I continue to pay. Unless you die before you pay it off then you lost 2X. Take it now and enjoy it. I'm leaving it to my kids..more for them Funny thing is that you're leaving them a liability ! Taxes will keep going up ! They can sell it and split the lump sum (after years of appreciation added on) Not a bad deal..I didn't get shit from MY parents. |
| Anonymous Coward User ID: 77699866 United States05/18/2020 12:21 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 77846190 United States05/18/2020 12:34 PM Report Abusive Post Report Copyright Violation | My renters both have jobs and received $3400 in stimulus funds. They aren't paying me. It's going back to the bank even if I have to endure a full foreclosure. Rental properties are only worth it if they are paid off and if you have more than ten properties. Never again. Too long a story, but I never intended to become a landlord. At least I have a home with income and I count that as a blessing in these times. |
| Anonymous Coward User ID: 78921389 United States05/18/2020 12:54 PM Report Abusive Post Report Copyright Violation | [link to www.zerohedge.com (secure)] Quoting: Anonymous Coward 71596998 With nearly 4 million homeowners in some type of mortgage forbearance plan - representing 7.54% of all mortgages, delinquencies are set to eclipse the great recession which peaked at 10%. According to a new report from UK-based forecasting firm Oxford Economics, 15% of homeowners will fall behind on their monthly mortgage payments in a 'tidal wave' of delinquencies. An while the pace of requests for forbearance has slowed in recent weeks - however that could change. "Although the pace of forbearance requests slowed this week, call volume picked up — which could be a sign that more borrowers are calling in to check their options now that May due dates have arrived," said Mortgage Bankers Association chief economist, Mike Fratantoni.  |
| Anonymous Coward User ID: 71408772 United States05/18/2020 01:00 PM Report Abusive Post Report Copyright Violation | |
| dodger007
User ID: 77690112 United States05/18/2020 01:06 PM  Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 76984449 United States05/18/2020 01:06 PM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 61629722 I don't want anything tacked on. I want it paid off so I continue to pay. Unless you die before you pay it off then you lost 2X. Take it now and enjoy it. I'm leaving it to my kids..more for them Funny thing is that you're leaving them a liability ! Taxes will keep going up ! People pay taxes no matter what. If taxes go up so does rent. A house at least increases in value. And money is made when you sell. |
