tag:blogger.com,1999:blog-5936637281134795592.post7760870866966159347..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: Underwater mortgages a sign of the times? Mortgage Broker radio advertisement targets underwater mortgage holders.Unknownnoreply@blogger.comBlogger15125tag:blogger.com,1999:blog-5936637281134795592.post-37858165423222534762013-06-26T14:48:43.290-07:002013-06-26T14:48:43.290-07:00Dan Cayo meet Angela Calla meet Tony SopranoDan Cayo meet Angela Calla meet Tony Sopranoone-upnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-27785720181868023402013-06-26T12:50:02.406-07:002013-06-26T12:50:02.406-07:00you did not just downplay having an underwater mor...you did not just downplay having an underwater mortgage in an ultra low interest rate environment !!!!<br /><br />sooo many implications... if only it were as easy as "just keep making the payments"<br /><br />ha. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-20135132662997503722013-06-26T03:32:45.195-07:002013-06-26T03:32:45.195-07:00Being underwater matters in renewals, changing len...Being underwater matters in renewals, changing lenders and re-finances --- basically in any instance where a property needs to be approved and an appraisal happens.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-54846334877562562372013-06-25T18:20:18.894-07:002013-06-25T18:20:18.894-07:00What about renewal time? If you are underwater you...What about renewal time? If you are underwater you don't qualify for that nice rate you had when you were prime mortgage broker fodder. Now the rules have tightened, no other lender will touch you, the current lender knows they have you over a barrel and will stick you with every last 1/10% interest they can. Of course Angela can find a way for you to keep your house, actually other lenders will consider you at some rate, but those days of 3%...?<br /> <br />KD and Hamburger Helper three nights a week just changed to six and three-quarters and that weekly nice restaurant is now the monthly Whitespot.<br /><br />Yes, if they demonstrate an ability and willingness to continue to pay they will not be kicked out, but it will really cost them, and most in that situation won't have much wiggle room to begin with.alexcanuckhttps://www.blogger.com/profile/08605337369229736033noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-12403225099255313642013-06-25T16:46:18.364-07:002013-06-25T16:46:18.364-07:00If I was running a bank, I would care a lot if the...If I was running a bank, I would care a lot if the loan is more than the asset it is backing. Did we not just experience this not 5 years ago in a small country called the U.S.?<br /><br />Seeking Knowledge...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-61777087910128753532013-06-25T15:25:52.000-07:002013-06-25T15:25:52.000-07:00An excellent topic for her, ahem, "mortgage s...An excellent topic for her, ahem, "mortgage show" ... which is no more than a paid infomercial for her company's services. Just like the One Percent Realty guy's show.<br /><br />Can't recall if she does the "let's take random questions from Joe Public" bit, but I may call in and ask your very question. <br />For our education (and for s***ts and giggles), of course. :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-87370401836516920292013-06-25T13:32:20.754-07:002013-06-25T13:32:20.754-07:00I wonder what interest rate the bank will give som...I wonder what interest rate the bank will give someone when they renew their mortgage and the principle is higher than the assessed value? Will bank give prime rate?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-86951830657477310582013-06-25T13:01:09.506-07:002013-06-25T13:01:09.506-07:00what is the time of CKNW 980 AM broadcast she tal...what is the time of CKNW 980 AM broadcast she talks about Underwater mortgages ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-6628196461556901842013-06-25T11:05:24.445-07:002013-06-25T11:05:24.445-07:00When I listen to that radio show, Angela and Manny...When I listen to that radio show, Angela and Manny Bazunas are all over each other congratulating her on "saving" clients thousands in monthly carrying costs. I got to thinking, if someone can save thousands in mortgage costs, then what is there debt level at? Even if 1 million mortgage, a 1% savings is relitively insignificant in monthly savings, so why does Angela not show the math behind what she does. And if a person has a 1 million mortgage, they hopefully have a brain, as they must have to work a fairly high paying job to carry such debt, but how can they be so stupid and be paying thousands more then they need to monthly?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-12927253485860501812013-06-25T09:51:11.844-07:002013-06-25T09:51:11.844-07:00Guess we're going to witness whether or not RE...Guess we're going to witness whether or not RE owners will be able to continue to make their payments as interest rates become less predictable than they have been. Carny has left the building.<br /><br />And it's not insignificant that the general consensus about RE is becoming more bearish right about now. The rise of the local market was underpinned by spin and animal spirits. Obviously.<br /><br />How many ads have you heard in the past 10 years that even addressed the possibility that you might end up underwater if you buy over-priced property?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-31478706015869140782013-06-25T09:41:23.438-07:002013-06-25T09:41:23.438-07:00So if you have negative equity what is Angela goin...So if you have negative equity what is Angela going to do for you? Has she got a crooked appraiser on speed dial? Davehttps://www.blogger.com/profile/08956155381690841710noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-56494380852974848922013-06-25T09:39:40.807-07:002013-06-25T09:39:40.807-07:00If you are forced to sell your home (marriage, div...If you are forced to sell your home (marriage, divorce, moving to new city, loss of income etc) then it makes a huge difference.<br /><br />Say you have a $1 million mortgage and you can only sell your home for $950K. Now to close the sale you need $50K + $30K for realtor and other fees. That $80K puts a lot of people well into bankruptcy / foreclosure.<br /><br />If your mortgage was $900K in the same scenario you still lose the same amount of money overall but you get a cheque on closing. BIG DIFFERENCE!!!<br /><br />An ObserverAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-9115108816088243392013-06-25T09:16:25.639-07:002013-06-25T09:16:25.639-07:00Not sure I understand the relevance. If the owners...Not sure I understand the relevance. If the owners continue to make their payments, the value is insignificant. Bank doesn't care. Only becomes an issue if the owner can't make their payments. In and of itself, value being simply below mortgage is insignificant.... As to the ad, hey if it attracts business, go for it, but the chicken little rant you've be on lately may not serve you well. #JustsayingDarthTurnerhttp://www.greaterfool.ca/noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-86856110687906075622013-06-25T09:15:50.875-07:002013-06-25T09:15:50.875-07:00There is money to be made in Foreclosures. Ask any...There is money to be made in Foreclosures. Ask any lawyer or repossession worker.<br /><br />http://resources.lss.bc.ca/pdfs/pubs/Cant-Pay-Your-Mortgage-eng.pdfAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-45632666368781480002013-06-24T21:16:28.885-07:002013-06-24T21:16:28.885-07:00HELOCs will kill some people; and add in all the o...HELOCs will kill some people; and add in all the other debt that's piled up in many households. It's a debt time-bomb.Anonymousnoreply@blogger.com