waahhh wahhhh the babby millennial crying that he fell for the 4 more years of high school without getting any worthwhile degree so now he's working at home depot to pay of his debt and it's all the boomer's fault because they had it better and it's all the zoomer's fault because they remind you you're getting older. grrrr punk rock dude, knock over that trash can!
ooohh good one. you get that from facebook or reddit?
5 months ago
Anonymous
Go outside and take a breath of fresh air okay buddy
5 months ago
Anonymous
we say "touch grass" now old-timer. now please don't get that reverse mortgage on your studio apartment for funko pops so your grandkids have to live in an Amazon lifepod
5 months ago
Anonymous
Put down mommy’s iPad and look someone in the eyes, it will do you some good
I know eye contact is hard for you but you can do it
5 months ago
Anonymous
really pulling out the greatest hits. do you have a joke book next to the rocking chair you're sitting in
Smoothbrain here. Could someone pls explain (preferably in greentext) what a reverse mortgage is exactly and why it's bad? Is it the banks buying your house but paying you in monthly installments or something?
yes and you can still live in it. Its basically taking out a loan against your paid off house that you know you will never be able to pay back. and so when you expire they get the house
It's essentially the bank betting on you dying before they have to pay you the property value of your home. But either way they'll make sure to make up whatever losses they had on the markup for when they put the house on the market again
>offer banks your house in exchange for monthly payments >banks take possession of your house when you die >leave nothing to your kids >wealth disparity increases
yes and you can still live in it. Its basically taking out a loan against your paid off house that you know you will never be able to pay back. and so when you expire they get the house
>be old >bank offers you set amount of money every month for the rest of your life >die >house now belongs to bank
Wouldn't it be better to mortgage the house, getting the entire value lump sum up front. Then use that lump sum to pay the new mortgage as well as be able to whatever you want because you have several hundred in cash. Whereas with a reverse mortgage they just give you a few thousand a month right?
>Hey bank I want a mortgage >Ok what's your income? >Uh I'm retired >You got 10 seconds to leave before I pull the gun out from under my desk and kill you
On top of what everyone else said, there can be some clauses in the contract that can frick you over before you die. Like the property has to maintain its value or else the bank can take it before your death.
>hire junkie to firebomb the house >"whoops looks like your property value dropped... guess i'm gonna have to take the house without paying you any more, thats the rules!"
dude, you don't want my house. it's falling apart, has lead lined plumbing, sits next to a toxic runoff ditch and is mostly made of concrete and angry ghosts
So basically, one of the fastest growing industries in America is care homes for the elderly. How am I supposed to cash in on this? Any Cinemaphile anon in? Preferably one that will not have its shit sued into extinction.
>parents have a large property >A fricking dilapidated shed in my area costs $1.5million >A 3 bed townhouse is $1.2 million >Save up 300k >Hire an architect and a GC >Building a whole fricking house on the property (with permits) for under $500k
Builders are absolute rapists on prices. I'm getting variances all over the place for vinyl flooring for a frickin 2000 sqft place. Some butthole quoted 100 grand. I guess that's a "frick off" price. Building at its lowest, nobody wants to work.
Oh I didn't watch the video. All the roofers here are indians and Chinese, so I guess it's just a white tax. But they charged more reasonably than the floor people. Frick I might just do it myself flooring is easy I've installed hardwood 4 times now.
>Building at its lowest, nobody wants to work.
Most places want the easiest jobs they're already tooled out for with huge margins. You really have to search and talk to a lot of people to find the ones who want to do real jobs. It's a good thing you were smart enough to recognize a frick off price when you saw it. Most don't and end up with legally noncompliant work for premium top of the field prices. It took me years to accumulate my contact list of reliable skilled specialists and unfortunately I just lost both my appliance/vehicle electrical guys this last year. Both had to retire due to health issues and it looks like they're not long for this world.
GC is telling me things are fricking weird too, but I don't know them well so I dunno if they're pulling my chain. Seems like every trade is sitting on the sidelines waiting for the government to subsidize everything and nobody wants to commit for the rest of the year, which is what I frickin need
It's just a loan. You can trust them too.
It's not his first rodeo, he's scammed a lot of people out of their inheritance.
lol. i missed this thread. been weeks even months.
I don’t think a reverse mortgage is a good idea sir, what of my children’s inheritance
Boomers would prefer to give it to friendly tv man they recognise than their own family
TV man was never as hateful as boomer's children
What are you talking about
This has ALWAYS been a one sided war of boomers shitting on millennials
waahhh wahhhh the babby millennial crying that he fell for the 4 more years of high school without getting any worthwhile degree so now he's working at home depot to pay of his debt and it's all the boomer's fault because they had it better and it's all the zoomer's fault because they remind you you're getting older. grrrr punk rock dude, knock over that trash can!
We speak English here
ooohh good one. you get that from facebook or reddit?
Go outside and take a breath of fresh air okay buddy
we say "touch grass" now old-timer. now please don't get that reverse mortgage on your studio apartment for funko pops so your grandkids have to live in an Amazon lifepod
Put down mommy’s iPad and look someone in the eyes, it will do you some good
I know eye contact is hard for you but you can do it
really pulling out the greatest hits. do you have a joke book next to the rocking chair you're sitting in
OK boomer
Sell your home to Magnum PI.
>knock knock
>who's there
>not your house, because i took it
>then what were you knocking on
>atheists btfo
This guy got to kiss prime Courteney Cox
Did she ride the womb broom?
I don't own, I rent for twice the mortgage and despite that I don't qualify for loan
Make YOUR retirement, MY retirement.
https://web.archive.org/web/20210921004017/https://www.youtube.com/watch?v=se4F65YONiQ
Why wouldn't you do this if didn't have kids? It's not like you'll need your house once you're dead.
Contributing to the end of home ownership in the US. These fund groups aren't going to sell the property anytime soon.
Not my problem.
Selling your house to the bank drives housing prices higher for the younger generation.
Smoothbrain here. Could someone pls explain (preferably in greentext) what a reverse mortgage is exactly and why it's bad? Is it the banks buying your house but paying you in monthly installments or something?
yes and you can still live in it. Its basically taking out a loan against your paid off house that you know you will never be able to pay back. and so when you expire they get the house
>be old
>bank offers you set amount of money every month for the rest of your life
>die
>house now belongs to bank
It's essentially the bank betting on you dying before they have to pay you the property value of your home. But either way they'll make sure to make up whatever losses they had on the markup for when they put the house on the market again
>offer banks your house in exchange for monthly payments
>banks take possession of your house when you die
>leave nothing to your kids
>wealth disparity increases
Wouldn't it be better to mortgage the house, getting the entire value lump sum up front. Then use that lump sum to pay the new mortgage as well as be able to whatever you want because you have several hundred in cash. Whereas with a reverse mortgage they just give you a few thousand a month right?
>Hey bank I want a mortgage
>Ok what's your income?
>Uh I'm retired
>You got 10 seconds to leave before I pull the gun out from under my desk and kill you
It's antisemetic to not let them kill you so you have to stay
On top of what everyone else said, there can be some clauses in the contract that can frick you over before you die. Like the property has to maintain its value or else the bank can take it before your death.
>hire junkie to firebomb the house
>"whoops looks like your property value dropped... guess i'm gonna have to take the house without paying you any more, thats the rules!"
dude, you don't want my house. it's falling apart, has lead lined plumbing, sits next to a toxic runoff ditch and is mostly made of concrete and angry ghosts
Ghosts are good insulation anon.
?t=10
>retirement's a time for me to enjoy your money
kek
>a little wobbly.
lofl
>your home
>it's where i wanna be and where i wanna stay
So basically, one of the fastest growing industries in America is care homes for the elderly. How am I supposed to cash in on this? Any Cinemaphile anon in? Preferably one that will not have its shit sued into extinction.
>forgets the Vax
not going to be much to play with in a few years anon.
May as well not worry about money at all then. Thanks for the useless fricking advice you moronic homosexual.
My pleasure c**t!
reminder that Family Guy did an episode on this recently
I can't. I don't own it.
Many older Americans, a little wobbly.
>parents have a large property
>A fricking dilapidated shed in my area costs $1.5million
>A 3 bed townhouse is $1.2 million
>Save up 300k
>Hire an architect and a GC
>Building a whole fricking house on the property (with permits) for under $500k
Builders are absolute rapists on prices. I'm getting variances all over the place for vinyl flooring for a frickin 2000 sqft place. Some butthole quoted 100 grand. I guess that's a "frick off" price. Building at its lowest, nobody wants to work.
I'm literally getting 80 grand in federal grants for the project and the builders don't have to pay taxes here so uh
so what?
Oh I didn't watch the video. All the roofers here are indians and Chinese, so I guess it's just a white tax. But they charged more reasonably than the floor people. Frick I might just do it myself flooring is easy I've installed hardwood 4 times now.
Oh well then I'm not reading your post
>kids don't want to work no more, they just want their iphone and avocado toast!
Die soon boom boom
>Building at its lowest, nobody wants to work.
Most places want the easiest jobs they're already tooled out for with huge margins. You really have to search and talk to a lot of people to find the ones who want to do real jobs. It's a good thing you were smart enough to recognize a frick off price when you saw it. Most don't and end up with legally noncompliant work for premium top of the field prices. It took me years to accumulate my contact list of reliable skilled specialists and unfortunately I just lost both my appliance/vehicle electrical guys this last year. Both had to retire due to health issues and it looks like they're not long for this world.
GC is telling me things are fricking weird too, but I don't know them well so I dunno if they're pulling my chain. Seems like every trade is sitting on the sidelines waiting for the government to subsidize everything and nobody wants to commit for the rest of the year, which is what I frickin need
Boomers and fricking over the people around them with insane financial decisions, name a more iconic duo.
Omniman is real?
What's he gonna do with all those houses?