@SeattleRainM to Housing Bubble 2: Return of the Ugly English • 3 months agoLandlord wants tenant to assume 11k/month mortgage on Penthouse. Tenant currently paying 6k/month rent.imagemessage-square6arrow-up110arrow-down13
arrow-up17arrow-down1imageLandlord wants tenant to assume 11k/month mortgage on Penthouse. Tenant currently paying 6k/month rent.@SeattleRainM to Housing Bubble 2: Return of the Ugly English • 3 months agomessage-square6
minus-square@cm0002linkEnglish11•3 months agoHow do they have a 1.9m balance with monthly payments of 11k but have a maturity date of just 18 months away??
minus-square@jordanlundlinkEnglish4•3 months 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-square@SeattleRainOPMlinkEnglish5•3 months 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.