SeattleRain@lemmy.worldM to Housing Bubble 2: Return of the Ugly @lemmy.worldEnglish · 1 month agoLandlord wants tenant to assume 11k/month mortgage on Penthouse. Tenant currently paying 6k/month rent.lemmy.worldimagemessage-square6fedilinkarrow-up110arrow-down13
arrow-up17arrow-down1imageLandlord wants tenant to assume 11k/month mortgage on Penthouse. Tenant currently paying 6k/month rent.lemmy.worldSeattleRain@lemmy.worldM to Housing Bubble 2: Return of the Ugly @lemmy.worldEnglish · 1 month agomessage-square6fedilink
minus-squarecm0002@lemmy.worldlinkfedilinkEnglisharrow-up12arrow-down1·1 month agoHow do they have a 1.9m balance with monthly payments of 11k but have a maturity date of just 18 months away??
minus-squarejordanlund@lemmy.worldlinkfedilinkEnglisharrow-up6arrow-down2·1 month agoWTF takes out a 60 month mortgage? $11K/mo. x 60 = 660,000, so at the end you have a balloon payment of 1.2 million?
minus-squareSeattleRain@lemmy.worldOPMlinkfedilinkEnglisharrow-up7arrow-down2·1 month agoThis is in Canada. They don’t offer 30 year fixed mortgages generally.
How do they have a 1.9m balance with monthly payments of 11k but have a maturity date of just 18 months away??
WTF takes out a 60 month mortgage?
$11K/mo. x 60 = 660,000, so at the end you have a balloon payment of 1.2 million?
This is in Canada. They don’t offer 30 year fixed mortgages generally.