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Forum » My neighbour just killed himself because his house interest rate increased again srs
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Thread: My neighbour just killed himself because his house interest rate increased again srs

post 1669431793 10-13-2022, 03:39 PM
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My neighbour just killed himself because his house interest rate increased again srs

They did it again,

They increased his interest again and this was his limit...he finally killed himself.

He sold his car in the last few months and and even cancelled his CrossFit membership srs

Stay safe homecels
post 1669431843 10-13-2022, 03:41 PM
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He had an ARM when we had sub 3% rates to fix into?
post 1669431873 10-13-2022, 03:41 PM
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Either living in Canada or has an ARM.
post 1669432303 10-13-2022, 03:49 PM
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That's not going to help him pay his mortgage next month

Good move dropping crossfit though
post 1669432673 10-13-2022, 03:57 PM
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assuming op is someone who posts constantly about mortgagecels and how its coming to an end for homeowners because he is a rentcel coping with paying 2x peoples mortgage and he doesnt understand fixed interest rates are what 100% of miscers have on their mortgage
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post 1669433123 10-13-2022, 04:06 PM
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Just LOL at anyone who didn't lock into a fixed rate when they were sub 3%. I can't even imagine missing out on that. LOL
post 1669433143 10-13-2022, 04:06 PM
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Originally Posted By Arem24⏩
He had an ARM when we had sub 3% rates to fix into?
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1669433163 10-13-2022, 04:06 PM
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post 1669433663 10-13-2022, 04:14 PM
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Post deleted by user
Original Ruckus
post 1669435063 10-13-2022, 04:38 PM
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Originally Posted By Jestbrah⏩
assuming op is someone who posts constantly about mortgagecels and how its coming to an end for homeowners because he is a rentcel coping with paying 2x peoples mortgage and he doesnt understand fixed interest rates are what 100% of miscers have on their mortgage
Why do you look at the housing market in a vacuum? Do you think a low fixed rate means anything if the value of your house drops by more than that amount? You know deflation proceeds rate hikes right? That's what the fed is doing.

Do low fixed rates mean anything if your job was supported by dovish monetary policies? How are you going to pay off that house that you bought at 20% above current market values.
post 1669435193 10-13-2022, 04:39 PM
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They don’t care, they want most of us dead…
post 1669435463 10-13-2022, 04:44 PM
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Originally Posted By frmrpro⏩
Why do you look at the housing market in a vacuum? Do you think a low fixed rate means anything if the value of your house drops by more than that amount? You know deflation proceeds rate hikes right? That's what the fed is doing.

Do low fixed rates mean anything if your job was supported by dovish monetary policies? How are you going to pay off that house that you bought at 20% above current market values.
where i bought historically and by ALL predictions will continue to rise even above peak covid numbers.

Also I bought at the biggest dip. Also the lowest interest. When committing to a 6 figure loan I found it best to be intelligent about my decision making and think about the future.

Even considering 2008, the prices of homes have continually increased year to year where I bought so yeah, im good.
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post 1669435563 10-13-2022, 04:46 PM
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but but but he could have easily sold it for 2-3x times the price he paid... wtf???
post 1669435603 10-13-2022, 04:46 PM
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he sure showed them

if your gonna go out do it in style like killdozer
post 1669435863 10-13-2022, 04:51 PM
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Original Ruckus
post 1669435913 10-13-2022, 04:53 PM
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Lol at adjustable rate mortgages

Just Fuking lmao
post 1669435943 10-13-2022, 04:54 PM
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Originally Posted By Jestbrah⏩
where i bought historically and by ALL predictions will continue to rise even above peak covid numbers.

Also I bought at the biggest dip. Also the lowest interest. When committing to a 6 figure loan I found it best to be intelligent about my decision making and think about the future.

Even considering 2008, the prices of homes have continually increased year to year where I bought so yeah, im good.
Ya, you're good, but not those who found themselves caught up in the frenzy and and whose income relied on suppressed interest rates..

My comment applies mostly to people who say it's never a good idea to rent. Such comments are too broad. Many people need to move because the demand for their services aren't sustainable in one area for too long, and that advice is detrimental since moving costs are substantially heightened when buying..

and since the bank has a lien on a mortgaged property I never understood the pride aspect of it that this forum fetishizes.
post 1669436793 10-13-2022, 05:18 PM
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If the only thing keeping this guy alive was a low interest rate on a house, he likely had other problems as well. Depending on the state, he could have squatted for a long amount of time just to stick it to the bank.

Also, why didn’t he lock in a rate? Who goes for variable interest on a loan like this?
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post 1669436993 10-13-2022, 05:23 PM
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Originally Posted By Jestbrah⏩
where i bought historically and by ALL predictions will continue to rise even above peak covid numbers.

Also I bought at the biggest dip. Also the lowest interest. When committing to a 6 figure loan I found it best to be intelligent about my decision making and think about the future.

Even considering 2008, the prices of homes have continually increased year to year where I bought so yeah, im good.
I remember people saying that in 2008. Lol.

Whoopsie.
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post 1669438323 10-13-2022, 06:00 PM
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Imagine a government that forces you into a contract that is subject to changing interest rates. Should we liberate Canada?
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post 1669439253 10-13-2022, 06:21 PM
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Originally Posted By IPoopStandingUp⏩
Just LOL at anyone who didn't lock into a fixed rate when they were sub 3%. I can't even imagine missing out on that. LOL
Yeah, that was really a no brainer for people who already owned and could have refiananced.
post 1669439283 10-13-2022, 06:22 PM
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Sad story OP, sorry about your neighbor.
post 1669439413 10-13-2022, 06:24 PM
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what type of payments did he start making initially and how much did he have to make now?
post 1669439763 10-13-2022, 06:30 PM
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Lol @ ARMtards.srs
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post 1669440003 10-13-2022, 06:35 PM
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Personally I would have just taken the 7 year hit to my credit report and rented, but whatever floats your boat i guess.
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post 1669440383 10-13-2022, 06:42 PM
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That’s so sad!
post 1669441953 10-13-2022, 07:14 PM
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In Canada currently if you have a variable rate a lot of people who bought in 2019-2021 are hitting their thresholds, which means not only is all your payment going to interest and nothing to principal, but the bank can either demand a much higher monthly payment or a lump sum. And they had already massively overpaid to begin with.

Imagine watching interest rates continue to rise and getting asked for an extra 2k a month when you're already house poor. Only option is to take on a second job even though you supposedly own a massive asset.
post 1669442253 10-13-2022, 07:20 PM
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Same mortgage payment since 2016 crew. Feels good mayne. Will have house completely paid off by end of 2023 and will be completely debt free. Already have some ideas for small businesses and looking at buying some rural acreage.

JFLOL at the constant cope threads on here. I don’t even knock on renters…I was once there myself. But these cope threads, while cringe, still bring the lulz.
post 1669443413 10-13-2022, 07:49 PM
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Another mortgagecel bites the dust.
Poor guy probably just wanted to offload his house but he'd have just been the third listing on his block in the past two months. Such is life.
Your schtick sucks and it screams insecurity.
post 1669443593 10-13-2022, 07:56 PM
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Imagine reaching retirement age, must have lived a really pointless chit tier numb existence to still be functional at retirement age SRS

ded fkn srs
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