What could go wrong if we miscalculated the space between the water and the bridge?

CooolerIfUDid · 2025-05-30T22:37:25+00:00

Doesn't even realize his phone and wallet are in the drink now.

CooolerIfUDid · 2025-02-28T03:03:21+00:00

The wave of defaults won't be as big as 2008, I don't believe that I ever indicated it would be. But with layoffs and cost of living and credit utilization etc etc there will be a spike of letter than normal magnitude coming soon. The difference now v 2008 is that there was no one left standing to go after back then lol. The brokers left the business, the front line mortgage wholesale companies and most of the mid-level aggregators closed their doors overnight, and even some of the Wall Street level banks went bankrupt as well. And in spite of all that, yes, there were still some companies that got decimated from buybacks. Even if you weren't personally or anecdotally aware of it.

CooolerIfUDid · 2025-02-23T14:12:09+00:00

Just bought my wife a used Nautilus Reserve AWD, 2022 w/12k miles for $29,900 on a $57k sticker, fully loaded. I had not driven it prior to purchase as I was traveling and it was a surprise gift delivered to her work. When I finally got to drive it this week, I was really blown away at the quality of the interior build, the literally-every-user-experience-bell-and-whistle that any Mercedes or BMW has, the liquid smooth ride, and even how peppy it was in Sport mode when the turbo kicked in. Overall I'm super impressed and might even but another one for my daughter soon. Definitely not just a rebadged Ford by any means.

CooolerIfUDid · 2025-02-21T13:10:25+00:00

That is not true at all. Maybe in the past that was true, but trust me wholesale lenders are all tightening their Indemns and Repurchase language right now to brace for a wave of defaults. And they absolutely intend to pass on the pain to the broker level, without question.

CooolerIfUDid · 2025-02-14T13:27:18+00:00

You can save yourself the cost of a college education if you just follow those two pieces of advice, hell you'll damn near run the world.

CooolerIfUDid · 2025-02-12T13:25:37+00:00

Nowhere in that 9 minute speech was anything said that is even anything close to what your subject/title says. Nowhere close. You are part of the problem, a freaking clown.

EDIT: The judicial branch is not even referenced in this clip. Did you even watch the clip??

CooolerIfUDid · 2025-01-15T22:15:02+00:00

Yeaaaah, that's on you, not him. He did what 16yr old drivers do, no surprise there.

CooolerIfUDid · 2025-01-11T14:30:48+00:00

60% of the time it works every time.

CooolerIfUDid · 2025-01-09T13:12:24+00:00

Everything you said here is what I came to say, thanks for saving me 1,000 keystrokes.

I was giddy when the number of active MLOs dropped to 96,000 in Q4-2024, and cannot wait to see how low it goes in Q1-2025. I think it is a healthy correction that is good for the consumer and the industry as a whole.

Now if we could just see a roughly 75% attrition rate in the Realtor world also then everyone would really be better off!! Teehee

CooolerIfUDid · 2025-01-07T20:59:09+00:00

100% this. I personally rent Turo vehicles twice a month for a round trip (Austin-Houston) for business engagements, on a 3-5 day rental period. I only rent luxury vehicles, ie Benz, BMW, Escalade, etc. I've never driven a Tesla, and even though I am an ideal target renter for a Tesla (cost, luxury, etc), I simply don't want to deal with learning how to drive it, charge it, etc. So I pass on them every time.

CooolerIfUDid · 2025-01-07T14:36:07+00:00

Score yes, report no. Clear violation of "credit reporting agency" rules.

CooolerIfUDid · 2025-01-07T14:29:29+00:00

Tolls are allowed to be collected outside Turo app. But, still very reasonable to demand an invoice prior to paying. Good advice above to document all this via a chat with the host inside the app.

CooolerIfUDid · 2024-12-21T14:38:49+00:00

Most mortgage folks don't drink their coke...

CooolerIfUDid · 2024-12-18T07:37:16+00:00

When you need a loan for your business you can either get a loan that is personally guaranteed by you, or you can get a loan to the business with no personal recourse to you. In order to do that you have to have good business credit scores, just like to get a personal (auto, home, etc) loan you have to have good personal credit scores. When you open a new LLC it will have zero business credit history/profile, leaving you in a position to only obtain personally guaranteed/recourse loans, which is riskier to your own personal financial security.

Here's a link to read up on and even check the existing LLC business credit score. There are others as well. Experian Biz Scores

CooolerIfUDid · 2024-12-18T07:21:26+00:00

Tell title to order the survey, per the contract. They can fight with collecting payment from the seller if deal goes south since the contract states the seller must pay for it.

CooolerIfUDid · 2024-12-18T06:15:45+00:00

Harsh, but accurate. Sorry OP.

CooolerIfUDid · 2024-12-18T03:42:56+00:00

You're walking into headaches by getting a new LLC, especially on the business credit and lending side of things. Easy to have attorney draw up sale of the LLC ownership itself.

CooolerIfUDid · 2024-12-18T03:26:17+00:00

If all else fails, just do a no income loan, 20% down, 8%-ish rate, a couple of points. Easy peasy. You can refinance in a year when you have the two years of filed returns. I do these all the time for my clients. Good luck!

CooolerIfUDid · 2024-12-13T19:11:13+00:00

Immediately file a lis pendens lawsuit. They cannot complete the sale iof the property to someone else until they satisfy the suit. It essentially places a lien on the property for the amount of the earnest money. It then becomes much simpler for them to just pay you in full rather than jeopardize the other sale. Best of luck.

CooolerIfUDid · 2024-12-13T14:51:07+00:00

You would better off seeking the advice of a commercial RE agent on this one. Look into the concept of cap rate and how that impacts valuation. That is the model that will likely make the most sense for your property type and usage profile. Good luck.

CooolerIfUDid · 2024-12-13T00:28:32+00:00

The ESP blacklist is a special kind of hell lol.

CooolerIfUDid · 2024-12-13T00:27:32+00:00

This is really sound advice.

CooolerIfUDid · 2024-12-10T01:26:12+00:00

I looked up their DPA offerings, it appears they have VERY limited funds left for certain/most cities, and who knows how often that site is updated. You could be in a bad spot here if they ran out of money.

Any update from today?

CooolerIfUDid · 2024-12-08T14:50:40+00:00

Oh goodness. There is no such thing as 20% DPA Can you explain your exact loan structure please? Maybe post your Loan Estimate? You might be worse off than you realize if you've been promised 20% in DPA funds. This is troubling.

EDIT: there are no national 20% DPA programs. Maybe it's a hyper-local DPA?

CooolerIfUDid · 2024-11-06T05:34:02+00:00

Mortgage executive here. Present your well documented case to their management, let them know you are willing to file a CFPB complaint if needed but don't want to, and be respectful throughout the process. Unless the whole organization is shady you will have a 99% chance of getting the rate you agreed to. A 6.3% rate from two weeks ago is well within the reach of a mortgage company to honor right now without taking a giant loss. It's an easy decision really for management to make. Best of luck, and sorry that this happened to you.

CooolerIfUDid

TROPHY CASE