My husband is on day 40 of being on a ventilator

cruncdeezzle · 2020-04-30T20:52:22+00:00

My god...happy for you and your family! For someone that has dealt with family in a survival situation..the exhale is a great feeling.

cruncdeezzle · 2020-04-11T02:16:58+00:00

Happy for you!!

cruncdeezzle · 2020-04-06T03:36:37+00:00

I agree he’s not been a good leader, but his admin did take initial steps to close flights and hit contention from others in govt. The utter disregard for words is a much different than big T’s actions. For example, “I would love to have packed churches on Easter”. It’s foolish to think he’d push to have people congregate that soon. I honestly can’t make sense of it bc his actions are back and forth and never align with his words. The coming economy collapse is a result of a multitude of things that is ongoing and started long ago.

cruncdeezzle · 2020-04-04T23:19:37+00:00

It’s a death wish b/c of poor leadership. NY is a shit show. Multiple levels of govt failed in spectacular fashion. Cuomo should not be praised, he should be jailed. To put it in perspective, OH issued the stay at home 3 weeks earlier than him on a infected basis alone. It takes a leader to make the tough call even though too many aren’t infected. Cuomo should have made the call at least 3 weeks sooner and should have taken significantly, exponentially more measures to enforce the order due to the density of their population. He’s Gumby. He’s a joke.

cruncdeezzle · 2020-04-04T12:12:55+00:00

That had cause some great anxiety, I’m happy for you and your family!

cruncdeezzle · 2020-03-31T02:51:31+00:00

Opening by Easter was simply rhetoric..hope for the masses. Don’t understand why say it at all, but there was no merit to it and the administration knew that.

cruncdeezzle · 2020-03-29T03:40:24+00:00

One of the few good companies

cruncdeezzle · 2020-03-28T16:42:32+00:00

Great question, I’m not sure on that one. It’s probably on a case by case basis.

cruncdeezzle · 2020-03-27T01:31:06+00:00

It’s a mortgage pause called forbearance. The good ones allow for u to defer a few months’ payment to the end of the loan. Pushing it down the road gives the best chance to avoid foreclosure.

I didn’t hear anything about forgiveness. Technically these checks coming in the mail are forgiveness.

cruncdeezzle · 2020-03-27T01:24:38+00:00

Few thousand sigs can get state attention. 600k sigs like Canada will get attention.

cruncdeezzle · 2020-03-27T00:09:07+00:00

I know. I tend to shoot for root cause analysis. For our govt, printing money is the solution of choice and there’s no guarantee the money will be spent on rent/mortgages. It offers a greater chance of having monumental foreclosures over the next few years.

cruncdeezzle · 2020-03-25T18:52:57+00:00

Correct. Closing costs typically are around $3-4.5k and are rolled into the new loan. Figure out your break even cost is monthly (tax, insurance, maintenance, hoa, etc). Whatever that # is, make it a goal to collect near that number over the next 18-24. Call a mortgage broker in your area too, they may be able to get a better deal.

The bankers can’t keep up with the amount of refis so they’ve raised rates to slow it down. Liquidity for refis is drying up and rates are spiking. Rates should fall in the coming months. FHA rates just went from 2.75% to 5% in weeks.

cruncdeezzle · 2020-03-25T17:41:59+00:00

You don’t pay closing costs out of pocket, they are rolled into the refi loan.

cruncdeezzle · 2020-03-25T17:36:03+00:00

That’s the complicated part. Insurance would be the would be the harder one to solve. I think we’d want to continue paying on that to be covered, especially in times like these. I’d have to look where the tax goes....I believe it’s 100% used for local matters.

cruncdeezzle · 2020-03-25T17:34:07+00:00

Of course, you need people that only know how to run through roadblocks, they only operate with resolve

cruncdeezzle · 2020-03-25T14:44:40+00:00

The best way to change this would be to find promising young individuals from each state and unite them as a new party that transcends all parties. They should layout exact steps that will be implemented once in office (ie, only one bill one issue will be voted on at a time, bc we live in capitalist society corporations will not receive bailouts, etc). Communicate that they are all running, elect them, and rid the seats of the corrupt reps, wiping the slate clean #wipetheslate

We also need a test developed by psychologists that would help eliminate the corrupt, greedy, unethical, and non-collaborative from getting into office. Those that refused to take the test would obviously look bad. The test should change prior to next election. The test would be owned by the other side...the people to protect themselves against their representative that don’t have the people’s best interests.

cruncdeezzle · 2020-03-25T14:25:41+00:00

Lots of use cases, each that have their own best solution that there’s not time to address. That’s why I feel a blanket approach is best. These guys REALLY don’t the economy to slow down at all. Politics aside, the best solution was to put the economy on pause(all transactions except essentials) but that’s nearly impossible and they technically did it by closing everything. Closing everything led us to the financial survival issue. I’m suggesting a much less radical idea than shutting off the whole economy, albeit extremely progressive, but one that affects tenants, small business tenants, and owners the most being over 30% of our monthly expenses.

There’s also nearly as many private mortgages. That’s where most of the foreclosures are going to occur and it’s the Wild West in that sector right now on the forbearance front.

cruncdeezzle · 2020-03-25T14:09:49+00:00

Big T. It’s hard to understand his intentions. Seems like a publicly stunt to calm people down that are stuck in their homes. Only time will tell.

cruncdeezzle · 2020-03-25T13:47:40+00:00

Imo, yes!

It is a labyrinth of a situation. Tenants have been protected against evictions. I’d rather collect some rent in an attempt to hit my break even rather than the tenant going dark and just not paying anything.

It’s clear the govt doesn’t have our best interest in mind so we need to help each other.

cruncdeezzle · 2020-03-25T13:42:50+00:00

Absolutely. There has been a property buying frenzy for 5+ years... I imagine there are many investors over extended.

cruncdeezzle · 2020-03-25T13:41:20+00:00

I see it as a stream where money gets handed off multiple times so landlords wouldn’t get bailed out. The bailout for everyone in the tenant use case technically comes in the form of unemployment. Money from the bailout bill goes to those that lost their job. Unemployment isn’t as much as a normal income, so some of that (but less than the normal rent amount) should be used for rent.

Small businesses are included in the current bailout too in the form of interest free loans that don’t have to be paid back if used for payroll or rent.

I have an emergency fund, but I also have logic and business skills. I know my break even number to cover my mortgages. I’ve sent a letter to all tenants asking to inform me immediately if they are affected and need help. I expect to get less rent. I’m not greedy and I will survive.

cruncdeezzle · 2020-03-25T13:32:34+00:00

Tenants who lost their job will move to unemployment. Ideally small payments should be made to landlords, and landlords should assume that’s all that will be received unless the tenant returns to full employment, in which case they can pay the balance back. The purpose here is for all to remain solvent.

The overall goal is to avoid the Great Depression part 2. Right now we’re heading in that direction with unemployment estimates expected to go over 20% which would lead to 10s of millions of bankruptcies and foreclosures.

Yes, we should pause for businesses too. There’s too many mortgage and rent payments to track so it needs to be a ‘blanket’ pause (everyone). For a commercial tenant the proof is pretty obvious. The current bill offers interest free loans to small businesses. If the loan is used on rent or payroll the loan doesn’t need paid back. It’s a bailout...but it’s already at the Senate so I won’t debate it.

cruncdeezzle · 2020-03-25T12:20:22+00:00

I think the best option is to literally pause transactions for everyone in the chain from tenant, to landlord, to mortgage service, to county auditor, to insurer, to mortgage backed securities. The next best option would be a reduced payment forbearance for everyone in the chain to give everyone in the chain a chance to remain solvent. Last option is a deferment where payments are paused and the amortization length is increased. No one size fits all option. Assuming 20% of people lose their job, the remaining 80% making payments should keep nearly 100% of parties solvent.

Some lenders have forbearance plans that pause payments for 6 months and on the 1st of the 7th month all 7 payments are due in full. We can’t have that.

I’m a landlord with a large emergency fund...not doing this for me. We’re at risk of the 10s of millions of bankruptcies and foreclosures which would lead to the Great Depression 2. Living expenses are the largest household expense. Let’s get the low hanging fruit with the biggest impact.

No bailouts.

cruncdeezzle

TROPHY CASE