About 5 years ago I sold a modest house in CA that was almost paid for. I paid cash for a smaller and more modest house in the Midwest. Yes, it's older and has needed and still needs work but much of that could be done over a few years. Certain things like HVAC's, painting, gutters, windows, etc are going to need to be done at times regardless of where one lives.
A friend of mine almost lost his business in 2007-8,9. A lot of customers lost bc people couldn't pay their bills when the housing market fell. His other friends stated they were giving back the Suburban, the Deniali, handing back the keys to the houses.. Go forward a few years, those very same people were the first to purchase the big cars and houses bc "nothing down". He just shook his head and said......they learned absolutely nothing from loosing everything. A lot of people live for today and don't look long term. Sad reality.
they have unhappy citizens trying to reclaim theri country, and unhappy invaders who aren't getting their way. This is the problem between globalist politics, natural born citizens who want individualism, and a lice infection colliding.
Thanks Matt. I moved in 2006 and sold my old home for 2.5 times what I paid for it. I bought a new home and paid half of the price up front so I have a low payment. I refinanced and have a super low payment now. I LEARNED FROM LAST TIME. Thanks Matt!
In all my years on this earth 🌎, 48 of them… i have never heard of anyone saying, I’m glad i took out a an adjustable mortgage… it’s always my arm adjusted up and my payment increases were way more than I could pay.. often adjusting thousands of dollars higher in the payment, forcing them to just walk away from the house and give the keys back to the bank…
From my experience, it's very rare to find an honest ethical person in the financial industry. Many lost their retirement funds in certain accounts when the economic failure hit several years ago. Very sad for them they worked/saved for decades and for some it was all they had in savings. They were forced to keep working, some 60-70 yrs old. Not good.
I have had 5 home loans and NEVER a ARM. We should get rid of the amortized home load it is a scam, make home loans simple intrest $7000 per year on every $100,000 of the loan , loans would be paid off much quicker and not 50% going to the bank the first 7 years. .
When I purchased my condo in 2010, the only way I could afford it was having a credit union give me 2 loans. One of them was an ARM. I basically had to pay that one off in 5 years or get it refinanced. I was lucky that rates were still low within those 5 years and I ended up refinancing and consolidating the loans. Due to many promotions at my company I paid the full thing off in 2018. Looking back though, I didn't know how bad it could have turned out. Those loans are ridiculously terrible.
Collectivism requires, on its face, to put the least capable in charge because they are the most controllable. That way, those REALLY in power can always push their agendas throughthem through fear - fear of them losing their "government job" and becoming one of their peopns...or even worse, being handed TO those they hurt, without the protection of having risn to the level of their incompetence.
I live in a homestead cabin near Joshua Tree on 2.5 acres I bought in 2001 for 10k while working in OC. Taxes are less than 1k. Timing is everything. Good luck everyone✌️
In Canada, we get to renegotiate our mortgages on average every 3 to 5 years. This give us again the choice between fixed or variable. In short, whatever is best at the time. What's the new artwork behind you? Thanks Matt! 👍
Right before the GFC they were giving out Alt-A or option 4 loans for primary residences to home buyers whose first language was not English. If paying interest only, the lowest amount, the loan becomes a negative am and it automatically resets I recall at 3 years, so the monthly payment will triple. There is no escrow account on these loans so the borrower thinks their taxes are being paid when the bank is paying them and demands reimbursement. It was really a mess back then. Makes me angry because lenders were giving those out like candy on new home builds when they were meant for investors and they did not disclose this but told borrowers "don't worry, you can refinance." Well, we know what happened next.
going to EUROPE with THE FAMILY? What a wise decision! Specifically...FRANCE? WOW! Brilliant timing. HOW many videos between you, JN, iAllegedly, Prepared Homestead, American Homestead, Pinball, PATARA, all discuss the horror that is Europe right now? Brilliant tactical decision!
Thanks Carl I will remember to get your input next time before I make travel plans. lol I agree Europe has problems just like the US has problems (and worse in many respects). That should not prevent one from living life or having experiences. My timing is dictated based more on the school schedules but I believe sufficiently prior to US election chaos. No crystal ball here. I have never said on my videos not to travel and to stay holed up in your home. One can be prepared and also live life imo.
There are a lot of people who are fully aware of these loans and don't really care about the ramifications because they just want what they want. If they are truly not aware, it is still not an excuse. You can look up everything with a click of a mouse. Do your due diligence. I see many people in my neck of the country who were around in 2008 back once again, dreaming and scheming. Bottom line if you can't get a conventional loan, you can't afford it. Even with a conventional loan it will be hard depending on what happens in your life.
Never ever ever get ARM mortgages know what your paying each month If you can’t pay your mortgage on the lesser salary in the household you don’t do it
i never wanted to buy a rental property. Why? The tenants, and the fact that i would be "on the hook" at any time - if something failed. But mainly, the people.
This Hernandez character is clueless and living beyond her means. If one must have a mortgage do a 15 year fixed. In many cases it is best to rent, live very frugally and save to pay cash or a huge down payment. Anymore no Europe in the summer unless going to a remote area. I go May/mid June and Sept/Oct.
![АЛАУДИНОВ у Скабеевой: эти их ВСУ нас НЕ ДОГОНЯТ 😁 [Пародия]](http://i.ytimg.com/vi/an0anqU4WGQ/mqdefault.jpg)
The fact that this channel doesn't have 2 million subscribers is a reflection of how many people are unaware of the dangers they face.
House paid off. No consumer debt… batten down the hatches!
Yesssssss!
I am in the same situation,,I keep prepping more because I know my son will not have it as good as I had,, keep prepping for the children
And food & taxes?
Just got ANOTHER letter from my mortgage service company to do a cash out refinance. Guess where it went?
About 5 years ago I sold a modest house in CA that was almost paid for. I paid cash for a smaller and more modest house in the Midwest. Yes, it's older and has needed and still needs work but much of that could be done over a few years. Certain things like HVAC's, painting, gutters, windows, etc are going to need to be done at times regardless of where one lives.
A friend of mine almost lost his business in 2007-8,9. A lot of customers lost bc people couldn't pay their bills when the housing market fell. His other friends stated they were giving back the Suburban, the Deniali, handing back the keys to the houses.. Go forward a few years, those very same people were the first to purchase the big cars and houses bc "nothing down". He just shook his head and said......they learned absolutely nothing from loosing everything. A lot of people live for today and don't look long term. Sad reality.
Um..most everyone
Be cautious throughout Europe. The political landcape is changing which has made for unhappy rioters.
they have unhappy citizens trying to reclaim theri country, and unhappy invaders who aren't getting their way.
This is the problem between globalist politics, natural born citizens who want individualism, and a lice infection colliding.
Thanks Matt. I moved in 2006 and sold my old home for 2.5 times what I paid for it. I bought a new home and paid half of the price up front so I have a low payment. I refinanced and have a super low payment now. I LEARNED FROM LAST TIME. Thanks Matt!
In all my years on this earth 🌎, 48 of them… i have never heard of anyone saying, I’m glad i took out a an adjustable mortgage… it’s always my arm adjusted up and my payment increases were way more than I could pay.. often adjusting thousands of dollars higher in the payment, forcing them to just walk away from the house and give the keys back to the bank…
From my experience, it's very rare to find an honest ethical person in the financial industry. Many lost their retirement funds in certain accounts when the economic failure hit several years ago. Very sad for them they worked/saved for decades and for some it was all they had in savings. They were forced to keep working, some 60-70 yrs old. Not good.
I paid my house off 4 years ago 👋🏻👋🏻👋🏻👋🏻
was it trying to blackmail you ?
SINCERE CONGRATULATIONS
@@kellynorvell5714 thank you!!
I have no debt at all, and I still wonder if I’m ready for what’s coming.
Taxes taxes taxes..lets hope they stay affordable 😮
I have had 5 home loans and NEVER a ARM. We should get rid of the amortized home load it is a scam, make home loans simple intrest $7000 per year on every $100,000 of the loan , loans would be paid off much quicker and not 50% going to the bank the first 7 years. .
Great information Matt, thanks for another insightful video
Thanks for watching Nicole 👍
When I purchased my condo in 2010, the only way I could afford it was having a credit union give me 2 loans. One of them was an ARM. I basically had to pay that one off in 5 years or get it refinanced. I was lucky that rates were still low within those 5 years and I ended up refinancing and consolidating the loans. Due to many promotions at my company I paid the full thing off in 2018. Looking back though, I didn't know how bad it could have turned out. Those loans are ridiculously terrible.
I just got back from Las Vegas. The casino business is booming and economy there.
Hernandez sounds 100% incompetent.
Collectivism requires, on its face, to put the least capable in charge because they are the most controllable. That way, those REALLY in power can always push their agendas throughthem through fear - fear of them losing their "government job" and becoming one of their peopns...or even worse, being handed TO those they hurt, without the protection of having risn to the level of their incompetence.
I live in a homestead cabin near Joshua Tree on 2.5 acres I bought in 2001 for 10k while working in OC. Taxes are less than 1k. Timing is everything. Good luck everyone✌️
I have 2 acres in Lucerne Valley I paid 8k , put in a well and solar . No payments
In Canada, we get to renegotiate our mortgages on average every 3 to 5 years. This give us again the choice between fixed or variable. In short, whatever is best at the time. What's the new artwork behind you? Thanks Matt! 👍
Good advice Matt.
Hi MATT Have a great 4th of JULY to you and your family. . Great video .
Hey Shell 👋🤓
@@oxtalks
Right before the GFC they were giving out Alt-A or option 4 loans for primary residences to home buyers whose first language was not English. If paying interest only, the lowest amount, the loan becomes a negative am and it automatically resets I recall at 3 years, so the monthly payment will triple. There is no escrow account on these loans so the borrower thinks their taxes are being paid when the bank is paying them and demands reimbursement. It was really a mess back then. Makes me angry because lenders were giving those out like candy on new home builds when they were meant for investors and they did not disclose this but told borrowers "don't worry, you can refinance." Well, we know what happened next.
going to EUROPE with THE FAMILY?
What a wise decision!
Specifically...FRANCE?
WOW! Brilliant timing.
HOW many videos between you, JN, iAllegedly, Prepared Homestead, American Homestead, Pinball, PATARA, all discuss the horror that is Europe right now?
Brilliant tactical decision!
Thanks Carl I will remember to get your input next time before I make travel plans. lol
I agree Europe has problems just like the US has problems (and worse in many respects). That should not prevent one from living life or having experiences. My timing is dictated based more on the school schedules but I believe sufficiently prior to US election chaos. No crystal ball here.
I have never said on my videos not to travel and to stay holed up in your home. One can be prepared and also live life imo.
@@oxtalks obeservational commentary is not direction. Free to do what you want, adn accept the outcomes.
Have fun...take mace.
Good evening. Safe travels. ENJOY !
There are a lot of people who are fully aware of these loans and don't really care about the ramifications because they just want what they want. If they are truly not aware, it is still not an excuse. You can look up everything with a click of a mouse. Do your due diligence. I see many people in my neck of the country who were around in 2008 back once again, dreaming and scheming. Bottom line if you can't get a conventional loan, you can't afford it. Even with a conventional loan it will be hard depending on what happens in your life.
Why take out ARM when interest rates were 3 %
It was 3% on the ARM, probably closer to 5 or so on a fixed rate.
Very good insight and advice, thanks
Never ever ever get ARM mortgages know what your paying each month
If you can’t pay your mortgage on the lesser salary in the household you don’t do it
BULLION OVER BONDS!
Hi Ox,
Are you traveling to Paris, France? I'd love tho hear about the riots? Be safe!
Too many people try to buy a house as a way to get rich.
i never wanted to buy a rental property. Why? The tenants, and the fact that i would be "on the hook" at any time - if something failed.
But mainly, the people.
i think you've got potential.
This Hernandez character is clueless and living beyond her means. If one must have a mortgage do a 15 year fixed. In many cases it is best to rent, live very frugally and save to pay cash or a huge down payment.
Anymore no Europe in the summer unless going to a remote area. I go May/mid June and Sept/Oct.
Thanks again Matt!
It’s a reverse crash!
B
How's the ninjas course going, I would like to buy the home buyers course, we'll see what happens....
Misremembered?
Please dont waist time talking about your job.
Only idiots buy a house with an ARM loan.
enjoy europe !!
Talk faster