[Normal]

Mortgage rates are high, but the newest assault on the market is the “forbearance “ wave that has hit its closing point. Borrowers aren’t paying up at a rate as high as 50%. Title offices are already reporting serious concerned on this stem of the market.

[CoachKandSportsguy]

Originally Posted by Randall55

Maybe it is the mortgage interest rates?

yes, but not for these houses, but for the buyer of the homes which the future TV resident is trying to sell to leave before buying in TV.

[justjim]

Originally Posted by Bogie Shooter

Driving around is a good way to gather information.........................

Congrats! Number one sarcasm post so far on this thread.

[Randall55]

Originally Posted by CoachKandSportsguy

yes, but not for these houses, but for the buyer of the homes which the future TV resident is trying to sell to leave before buying in TV.

This is true for some but not all. I know many who own a home here and one out of state. It is difficult to buy a second home when interest rates are high. Plus, one can earn substantial interest if they invest the money instead of paying cash for a home.

[Randall55]

Originally Posted by justjim

Congrats! Number one sarcasm post so far on this thread.

It is only good sarcasm if it is based on what a poster ACTUALLY STATED. It is a lame remark when the poster stated she spoke to a realtor and he gave her a list of discounted homes.

[Randall55]

Originally Posted by Normal

Mortgage rates are high, but the newest assault on the market is the “forbearance “ wave that has hit its closing point. Borrowers aren’t paying up at a rate as high as 50%. Title offices are already reporting serious concerned on this stem of the market.

I am not up to date with forbearance. Are many skipping payments? Is it costing more money in the long run?

[Bill14564]

Originally Posted by Randall55

It is only good sarcasm if it is based on what a poster ACTUALLY STATED. It is a lame remark when the poster stated she spoke to a realtor and he gave her a list of discounted homes.

Originally Posted by margaretmattson

Take a drive and see for yourself.

Seems like that is what the poster ACTUALLY STATED.

[Randall55]

Originally Posted by margaretmattson

I went to look at new homes with my daughter. There is a LARGE inventory of homes. Quite a bit have price reductions. The realtor said it was to close out some neighborhoods. If you are looking for a discounted home, this may be a good time to buy.

This was her first post. Another poster wanted to know how many homes and in comparison to what. Drive by and see for yourself is a great response.

The term "drive by" is not always literal. Sometimes, it is slang. As in, "I'll drive by later, hope to see you there!"

[Boffin]

Originally Posted by Normal

The Villages has dropped more new home prices this week in the poorly selling Village of Lake Denham. Check out 7026 Baysinger Path.

A definite warning for Villages retirement considerations.

If you are cinsbuying, the writing isn’t just on a YouTube wall. The rubber has met the road.

Nope.

[Bill14564]

Originally Posted by Randall55

This was her first post. Another poster wanted to know how many homes and in comparison to what. Drive by and see for yourself is a great response.

The term "drive by" is not always literal. Sometimes, it is slang. As in, "I'll drive by later, hope to see you there!"

So I should step into her head and read what she meant rather than what she wrote. Sorry, mindreading is not one of my superpowers.

[Normal]

Originally Posted by Randall55

I am not up to date with forbearance. Are many skipping payments? Is it costing more money in the long run?

A forbearance and a deferment are basically two types of relief for mortgages

The forbearance program is an agreement between the homeowner and lender to temporarily pause or reduce mortgage payments. Any missed payments are required to be repaid once the forbearance period ends. All extensions are now used up. Home sales have been affected when title companies have attempted to close for a sale of a pre owned home.

The deferment is different. A borrower basically just paused on payments and started back up at a later date. The close of the loan was just extended.to a new date.

Just be aware, it exists and it will soon become more than relevant. For some reason California and Nevada are just starting to feel these effects before other states. I’m not sure why. Title companies report problems. Commercial is a larger issue than residential.

[Randall55]

Originally Posted by Bill14564

So I should step into her head and read what she meant rather than what she wrote. Sorry, mindreading is not one of my superpowers.

Mindreading may not be your super power, but taking things out of context is a different thing. Twice, in your posts, you eliminated her words about speaking with a realtor.

[Randall55]

Originally Posted by Normal

A forbearance program is an agreement between the homeowner and lender to temporarily pause or reduce mortgage payments. Any missed payments are required to be repaid once the forbearance period ends. All extensions are now used up. Home sales have been affected when title companies have attempted to close for a sale of a pre owned home.

The deferment is different. A borrower basically just paused on payments and started back up at a later date. The close of the loan was just extended.to a new date.

Just be aware, it exists and it will soon become more than relevant. For some reason California and Nevada are just starting to feel these effects before other states. I’m not sure why. KC and Chicago offices are already working management plans. First American, Old Republic National and Chicago Title all report problems.

I understand what a forbearance is. I am not up to date with how many homeowners have skipped payments. Apparently, there must be many if title companies are reporting problems. Honestly, I haven't heard anything about this in the news.

[Bill14564]

Originally Posted by Randall55

Mindreading may not be your super power, but taking things out of context is a different thing. Twice, in your posts, you eliminated her words about speaking with a realtor.

Here is the full post

Originally Posted by margaretmattson

Take a drive and see for yourself. I am not the first to notice and post that quite a bit of newly constructed homes have been sitting empty for months. My post was for new buyers. If they want a discounted home, now may be the time.

I guess I’m not real good at reading between the lines either.

Yea, in ANOTHER post she mentioned that SHE had talked to a realtor. However, that was not the advice she gave to others in THIS post.

[Randall55]

Originally Posted by margaretmattson

I went to look at new homes with my daughter. There is a LARGE inventory of homes. Quite a bit have price reductions. The realtor said it was to close out some neighborhoods. If you are looking for a discounted home, this may be a good time to buy.

Again, this is her FIRST post. Can you see the words " the realtor said it was to close out some neighborhoods?" Or, do you just want to keep avoiding that statement? It seems like you would rather continue a silly argument instead of simply reading.