My wife and I sleep in the same room her parents used, and her Mom died in. Took me about two weeks to get past it but it's fine now.Weirder when they do the nasty in the same room.
House Buying Thread
House Buying Thread
House Buying Thread
So my buddy buying the Florida house's saga continues. His lender didnt lock in a 5.75 % rate a few weeks ago, at his direction. Almost like they gambled - is this legal? - anyway, they gambled and he lost. He has it in writing, emails, etc to lock in on a day in mid-May at 5.75% and they promised him rates were going down. He didn't care - wanted locked in. All they were concerned with was remote work and if he had that approved. Almost like a stalling tactic? So they called him early last week and said yep, your rate is now 7.2% and they had to lock in Friday cause they close this week. He's talked (read, yelled loud AF) to them, and they weer able to buy his rate down to like 6.45, and he has to pay $3200 for that. This ups his cash at close and overall P&I payment by like $400. As I understand, he can't walk away as he will lose earnest money, and the lender wont budge, the seller wont push close. It sounds like an absolute terrible spot to be in because the lender thought rates would go down and they never did. I'm sure I'm missing a ton of details, but yeah. Buying houses should not be this difficult.
House Buying Thread
Oh and to make matters worse, he apparently unloaded ~50 shares of NVDA to pay for closing.. on May 8
-
- Posts: 11598
- Joined: Thu Apr 30, 2015 3:27 pm
House Buying Thread
sounds like your friend needs to
House Buying Thread
Florida...
House Buying Thread
Yeah, he said he has a consult tomorrowsounds like your friend needs to
House Buying Thread
Upon reading the story I immediately wondered if there is a RESPA violation here. Those are good cases to take as an attorney because they're fee-shifting, with little risk for the plaintiff.
Is this PA?
Is this PA?
-
- Posts: 27631
- Joined: Wed Mar 25, 2015 3:03 pm
House Buying Thread
Sounds like TILA violations, except that cause this is a rich guy, the loan is above the thresholdUpon reading the story I immediately wondered if there is a RESPA violation here. Those are good cases to take as an attorney because they're fee-shifting, with little risk for the plaintiff.
Is this PA?
House Buying Thread
He lives in PA right now and is purchasing the home in Florida. Not sure any of the details on the lender, the agent is obv in Florida.Upon reading the story I immediately wondered if there is a RESPA violation here. Those are good cases to take as an attorney because they're fee-shifting, with little risk for the plaintiff.
Is this PA?
House Buying Thread
Am I correct that the threshold is $57,200?Sounds like TILA violations, except that cause this is a rich guy, the loan is above the thresholdUpon reading the story I immediately wondered if there is a RESPA violation here. Those are good cases to take as an attorney because they're fee-shifting, with little risk for the plaintiff.
Is this PA?
So poor guys like us are above it too?
-
- Posts: 27631
- Joined: Wed Mar 25, 2015 3:03 pm
House Buying Thread
No, mortgage loans is 500k. I think that 57 is for like auto loans and other unsecured, non real estate loansAm I correct that the threshold is $57,200?Sounds like TILA violations, except that cause this is a rich guy, the loan is above the thresholdUpon reading the story I immediately wondered if there is a RESPA violation here. Those are good cases to take as an attorney because they're fee-shifting, with little risk for the plaintiff.
Is this PA?
So poor guys like us are above it too?
House Buying Thread
RESPA, if it applies, is a federal law so he's covered either way. But it's obviously easier to litigate closer to the defendants.He lives in PA right now and is purchasing the home in Florida. Not sure any of the details on the lender, the agent is obv in Florida.Upon reading the story I immediately wondered if there is a RESPA violation here. Those are good cases to take as an attorney because they're fee-shifting, with little risk for the plaintiff.
Is this PA?
House Buying Thread
I'm officially looking for my first place (townhouse).
I hate this.
The cheaper stuff requires too much work/has a reason it's cheap. The stuff at the higher end of my range are overpriced for what they offer/how much work is needed/have terrible HOA/maintenance fees (the most recent one my agent sent me was $485 a month!)
I hate this.
The cheaper stuff requires too much work/has a reason it's cheap. The stuff at the higher end of my range are overpriced for what they offer/how much work is needed/have terrible HOA/maintenance fees (the most recent one my agent sent me was $485 a month!)
-
- Posts: 60982
- Joined: Sun Oct 04, 2015 2:00 pm
- Location: FUCΚ! Even in the future nothing works.
House Buying Thread
Yeah, this is an awful time to be buying a house if you're the buyer.
House Buying Thread
Still better than when I originally started looking (very softly) pre-COVID and early 2021.
House Buying Thread
Just curious, why a townhouse?
-
- Posts: 60982
- Joined: Sun Oct 04, 2015 2:00 pm
- Location: FUCΚ! Even in the future nothing works.
House Buying Thread
Is it? My house is apparently worth $120-150k more now than it did at any point in 2020 depending on which site you use (RedFin typically winds up being the most accurate, so $120k there).
House Buying Thread
Is it? My house is apparently worth $120-150k more now than it did at any point in 2020 depending on which site you use (RedFin typically winds up being the most accurate, so $120k there).
I think it's more "the market isn't as crazy/things aren't going for $50k over asking now".
Affordability (at least, in the area I'm looking, it seems like the only options are townhouses), and there's only me. I don't need a ton of space.Just curious, why a townhouse?
House Buying Thread
Buy a house on a golf course.
-
- Posts: 19483
- Joined: Wed Mar 25, 2015 5:02 pm
- Location: Monroeville, PA
House Buying Thread
I just checked red fin and it shows are house worth about 90k more than we paid for it in June of 2020, and with our down payment and what we've paid off already we are probably about 120k+ even if that is a very rough estimate.
This is a crappy time to buy now though with interest rates and homes still priced higher than what they should be (IMO).
This is a crappy time to buy now though with interest rates and homes still priced higher than what they should be (IMO).
-
- Posts: 19782
- Joined: Wed Mar 25, 2015 7:33 pm
- Location: Iodine State
House Buying Thread
lol mine is worth $303 more than what we paid for it 11 months ago. OK then.
-
- Posts: 11598
- Joined: Thu Apr 30, 2015 3:27 pm
House Buying Thread
House down the street from us went for sale less than a week ago and is already under contract. Listed price was more than $200k than we bought ours for 8 years ago. Not as big of a jump as other places but still 66% increase.
-
- Posts: 19483
- Joined: Wed Mar 25, 2015 5:02 pm
- Location: Monroeville, PA
House Buying Thread
House down the street from us went up 3 days ago, and is under contract for 350k. It has one more bedroom than our house and a bit more sq footage, but is not updated much at all. Just crazy all around.
-
- Posts: 35741
- Joined: Tue Mar 24, 2015 2:06 pm
- Location: All things must pass. With six you get eggroll. No matter how thin you slice it, it's still baloney.
- Contact:
House Buying Thread
My parents purchased the family farm in 1993 for $110,000. From all the normal sites, looks like it'd sell for ~$350,000. I'd imagine most houses or land have about tripled in that time. Maybe more, maybe less.
Average national salary in 1993: $26K. I'd imagine that salaries should track with home price, so 78K national average today right? I'm seeing somewhere between 55 and 60K as today's average?
The price of EVERYTHING seems to be outpacing salary. Eventually no one will be able to afford to live a "normal" American life.
Average national salary in 1993: $26K. I'd imagine that salaries should track with home price, so 78K national average today right? I'm seeing somewhere between 55 and 60K as today's average?
The price of EVERYTHING seems to be outpacing salary. Eventually no one will be able to afford to live a "normal" American life.
Who is online
Users browsing this forum: JC2, RonnieFranchise and 230 guests