Відео

It's not illegal. You owe it. You owe it. Nothing is free

I have been in my nice four-bedroom house for 50 years and I would never sell it because it is a gathering place for my children who live nearby and for my grandchildren. My mortgage is paid off and I have an army of reliable and honest handymen whom I have cultivated over the years. Reviewing all of my monthly expenses, I could only afford to rent a one-bedroom apartment with my income and I would never buy a condo for the same reasons that Jackie explains, most importantly the rising condo fees. I know people in this situation who were priced out by rising HOAs and had to go into senior housing.

What's wrong with some financial entity trying to collect on an unpaid debt? These people took out a loan and didn't pay it back. If the bank said your "zombie" loan would be forgiven, why didn't these people ask the bank for a piece of paper stating that (signed and notarized)? Anybody can say anything but without ironclad proof that the bank "said" so, the debt is still outstanding, unless there are laws forbidding the collection of debt because of legal issues like statutes of limitations. After all, these people DID borrow the money. It's a matter of making you cross your "T"'s and dotting your "I"'s. If you thought the loan was going to "go away" because the bank "said so", you thought wrong, as people are finding out. Anybody that did an 80/20 loan bought something they couldn't afford.

I have 110 year old home and none of those things are true in my house.

Here in Europe (non-EU and EU countries in the Balkans), we have so many cases of some debt collecting company that bought some debts from banks but also some micro-loan company that went into bankruptcy, and they are adding some crazy interest rates and making from 400-500 euros suddenly people have 9000 euros of debt to them, thus is just an example of what they do. People are fighting that mostly by loans being over 10 years old and therefore expired, but also by the fact that they were not notified nor agreed to their debt being sold to third party. Hope people in US can use similar concept in law to defend themselves

A lot of homeowners that had a modification are unclear of what the terms are. The primary lender cannot forgive the 2nd mortgage even if it's with the same company. These are different loans and are handled independently. I have had cases where the primary modified and the second mortgage declined modification when it was with the same bank. So unless you got something in writing outside of your primary modification paperwork expect to still owe the debt. And if a debt was charged off you owe it, if a debt was forgiven you will know because the IRS will come looking for their cut. Under HAFA people could get out of the taxes, but that's long gone now. Many people who didn't read their mortgage documents in 2006 also didn't read their modification paperwork in 2011.

thats great they should have their old loans paid back , they have equity so refiance and pay off your debt. no free ride. just like a tax lein you dont pay you get OUT

@ 4:43 You're not using that 8mm filter correctly.

people or sheeple will never admit their stupidity on signing on bad deals just like commercial real estate selling for $2million that was bought for $200 million in 2016 . LOLOLOL what a crock of s-it ! When will the sheeple wake up ??????????????????????????? LOLOLOLLO

Then you get one nut that sues the assn every few months.

I am from Texas I am going buy my house cash and the house market getting ready to pop also soon .

Thank you Jackie. I watched you today on Jen’s channel.

Okay...you used charged off and forgiven interchangably(@10:12)....however, they do not mean the same thing. So....are these people dealing with "charge offs" which is unpaid debt that is still owed, or are they forgiven...at which point there would be very clear documentation stating the terms that need to be met for a loan to be forgiven. They can't be both.

The home value market is outrageous. Why are houses that are 40 year old doubled in value in the last 4 years.

Moral of the story don't buy a house you can't afford. If you have no money to put down you can't afford the house

I, tonyotag, am NOT an attorney. Such advise below is just precautions when it comes to getting a serious thing like a home loan forgiven. I get the confusion of the homeowner, not so much of the lending firm that buys the note backed by a lien. That is the key, homeowners that have been told that the loan is forgiven, then get a letter saying so and demand that the lien on record is satisfied (at the courthouse.) Then have your attorney check the title to see if the lien (of that specific note) has been taken off the title or deed. Additionally, many lenders are not organized or sometimes a mom/pop investor just buys a bulk package of notes from a bank or other lender and it becomes their responsibility to collect the debt. When you, the homeowner, calls in or the former owner of the note or lender calls the homeowner, do they know who they are talking to (yes, I am talking about both parties on the line) I can see the confusion set in on what was said. The typically conversation between old and new lender trading mortgage notes can sound like a price negotiation of when the payment is made and when....so does a homeowner to lender.

Moral of the story: Always pay off ALL your debts in a timely manner. Never trust that something is charged off unless you have it in writing.

“This time isn’t like a 2008 crash” then proceeds to present evidence of a 2008 crash 🤣

Essentially, the original lender is telling the home owner that the 20% loan is charged off and forgiven, but then they are selling the loan to a different bank or mortgage company. That second company has not been told that the first company told the buyers they had forgiven the loan. Then it becomes a chain reaction of that loan being charged off and sold, charged off and sold, until it gets to a company that will not charge it off and forgive it. Why are lenders allowed to create these predatory situations with people who they very well know cannot afford the house. That situation should be illegal? Why do buyers take on these crazy types of loans (especially ARM loans) if they cannot afford to make the payments?

It started with price fixing…. It won’t cost me anything MORE… because …I learned a special word…NO.

FLORIDA likely made #1 on the list now. 1000% increase in listings😳home owners insurance is crazy.

What difference does the ownership type of a flipped house make? A flipped house is a flipped house, whether it's owned by an LLC or an individual. It's best to avoid purchasing a flipped house regardless of the ownership type.

Florida has a homestead exemption that can be applied for after residing in the dwelling for a year and another one after turning 65. These exemptions are transferable from1st home to the 2nd home also (after 2 years). The problem in Florida and probably most states is the hosing market prices are now high and so will be the tax assessment.

Was an arm involved? Libor ?How many times was second sold off?

Hopefully these folks have a letter from the bank saying the 20% loan was forgiven. If it's in writing, can't imagine how the bank would win. If not, could be problematic.

Is this happening just with 80/20 mortgages?

I live in one that is jacking up the lot rent in Maryland the owners live in California and don’t care bout the residents in the trailer park. It’s a very small trailer park and the lot rent is at $897.20 a month it’s a total rip off

Tha's why I always say titles and deeds cannot be gotten until the original owner is notified. I know of someone who rented in a house that got foreclosed on without the owners knowledge.

The latest news from the Fed seems to have them cutting rates in September, kind of sort of maybe. Then it's off to the races for housing prices again...with no real correction.

What has happened in the past few years when a homeowner with one of there mortgages sells their home? I would think they would have shown up in a title search and would have to be taken care of for the deal to go through.

I bought my present home with CASH. So no mortgage. The money came from the sale of my past house. When I bought it was a good time to buy and I was very lucky to sell the house for two and a half times for what I paid for it. I feel sorry for people who need a mortgage AND A LOAN in order to buy a house.

The information on this channel is not correct . Seek professional advice in your local area.

Does no one read their closing documents? It should have said in the re-fi what happened to the second mortgage.

Lol Classic movie evil dead scared the heck out of me growing up.

Just found your channel and I’m looking to buy and this is very useful.

"lLong-term" locals who have been there for years don't want you to be there. Yeah, all five of those "lon-term" locals that still live there.

3 years, 4 banks, 4 realtors. Sub 800 Credit scores and steady multiple stream income for 6+ years. Always some 🐂 💩 right around closing that firces me to bsck out if the deal. Ownership is NOT for me. Im fine with that. Its frazy hiw realtors sre still telling people "this is the best time to buy!"

OK…so for 10 years we owned a park model mobile home in a resort in 😢Sarasota Florida and loved it. Was it a house? Sort of. The reason we sold and left was multiple. Prices going up( we rented the lot) traffic doubled ,expenses going up,insurance , etc , sad we really enjoyed it. Not the Mobil homes fault. We were in a closed ,gated park. Cost of Heat A/C power all ok not Hi at the time. Sorry you find so much against these . Cost of a House way over Middle class means.

If the seller is offering a higher compensation to the buyer´s broker, and the written-buyer-broker agreement states a lower percentage, the amount in the buyer-broker agreement prevails. Again, even if it´s lower than the amount offered by the seller.

$600 monthly lot rent for a top rated mobile home park in bucks County. Up to $1,000 for other (crappier) parks in bucks County. It's ridiculous out here.

Can you make an opposite video? What kind of home should you buy?

I was wondering about the foundation if it was real brick or if it was just like a facing.... And then I thought it might have been just a weird foundation because the top was siding.....

As soon as she "it has an axle that runs the length of the house"' I knew she was clueless.

Love you girls thank you so much for posting. It was very informative and helpful.

Point is, both newer and older homes have problems. And you will need $$$$ for maintanence and repairs..

I hate flippers.

asbestos was commonly used up into the '80s in a lot of places in the US

Location makes all the difference in the affordability aspect. I agree that manufactured homes have gone up drastically in price, but when you consider the cost of building a new home, you can get into a manufactured(mobile home) for less, for the same square footage. It was years ago, but my parents bought a double wide, lived in it 35 years and sold it for more than they paid for it. All that being said, my wife and I are building a new home, which cost more than the same size mobile home, but it is what we want and want to leave to our children when we die.

I really value what you said in this video. Very good information Jackie, thank you so much!

not just about building more homes- it’s also about making housing affordable so that people will move, preventing corporations from buying up starter/affordable homes and then making them rentals instead, and re-zoning so that land space can be used for higher density housing instead of just single family suburban residences