All Forum Posts by: Account Closed

If you're talking about end of Fannie Mae (and others) conservatorship, then there could be significant changes to how conventional mortgages are structured in the US (ie, you might see less 30 year fixed). It could also lead to an increase in the cost of a mortgage which could (1) price more people out of the market and (2) as a result lower the price of properties. The positive flip side to this would be more renters needing places to live since they're prices out.

All of this, however, is totally speculative. I by no means intent to make a political statement, but.... As with all things related to the government, this will not be a fast process (and could be changed again in a future administration). The government's involvement in the housing market is deep and invasive - despite the current administartion's intent to move toward undoing the conservatorship, there are many who want to maintain control - the process won't be a clean and fast one. I may well be wrong, but I would never bet on DC moving quickly on anything (except congressional payraises).

There's no moral issue with owning any type of real estate in the same way there's no issue with whether I turn a light switch on or off - it's morally neutral. The moral issue is involved with you as the owner - how will you treat your tenants? Will you respect them and follow through with your responsibilities as a landlord? Regarding the idea of selling them the prospect of owning a (even depreciating) unit, the choice is theirs - they have the freedom to determine whether they should or should not. No matter what socio-economic level, I think people can make the best decisions for themselves. This is one of the virtues of a free market. You're offering to sell them a place to live, not crystal meth. 

Trading health insurance for saving additional dollars is a very risky proposition. Just my opinion, but I wouldn’t do it. You might save a large amount per month, but when a major health event happens, you’ll be in the hook for far more than the dollars you’re saving. My 5 year old broke his arm last year and I’m amazed how expensive it was - even with great health insurance. I’m actually still getting bills for it - couldn’t imagine what it would be like if I had to pay for everything. There are better ways to reach your goal.

The line “It just keeps going up” is making me a bit uneasy here. I wouldn’t hold onto the property based on that assumption. Should you sell the property, how much more efficiently could the capital be utilized in a market that typically cash flows more on a monthly basis?

Thanks. Promise was made not verbally but via email the realtors name and time included. I've been told that per the Electronic Signatures in Global and National Commerce Act of might be binding.

No photo confirmation for repair work was promised via email with name and tinestamp

I should clarify that seller is unwilling to return EMD.

I have been under contract for a house in OKC as an out of state buyer. The contract has been followed regarding inspection and provision of needed remedies. Seller agreed to all of them as well as to providing photo documentation of repaired work before closing. Our closing date was set to Apr 30, but my signing was scheduled for today. The seller (via his agent) failed to provide photos confirming finished work but assured me it was done. Obviously this was not adequate to hear before signing loan docs, so I cancelled and requested earnest money back.

Seller is claiming repairs were made before closing but has not provided photos that were promised (over email).

Any case here? Thanks.

@ali boone - I unsubscribed from it - not due to negative news though. The podcasts are almost entirely commercials and I didnt find the content distinctive or any different from other sources. Not the best use of valuable time.

@John Underwood

Apologies for not including the link:

https://www.sc.edu/study/colleges_schools/law/academics/experiential_learning/clinics/veterans_legal_clinic/index.php