First time home buyers are blown out by looking at Amortization schedule

[Sonu_Patel]

Recently my friend living legend moved to Texas and closing a little over a Million dollar home.. 

Despite paying 40% down payment the monthly mortgage payment is $6500. 

he is crying only $500 is going towards Principal. 

 

[Aquaman]

anna market analysis nov report eyyale enti

 

me report kosam @Ravi860 @perugu_vada waiting

[Sonu_Patel]

19 minutes ago, Aquaman said:

anna market analysis nov report eyyale enti

 

me report kosam @Ravi860 @perugu_vada waiting

last week varaku 8.5% maintain chesaru interest rates.. ipudu around 7.8 undi.. 

Housing Market is still relatively good because of low inventory and people spending emi taggadam ledu.. 

Good locality and well priced homes are going under contract immediately..

Greedy sellers with no proper home maintenance are at risk now. 

 

[Aquaman]

1 minute ago, Sonu_Patel said:

last week varaku 8.5% maintain chesaru interest rates.. ipudu around 7.8 undi.. 

Housing Market is still relatively good because of low inventory and people spending emi taggadam ledu.. 

Good locality and well priced homes are going under contract immediately..

Greedy sellers with no proper home maintenance are at risk now. 

 

Ya, good school areas lo even with higher rates sales are still happening but bit slow

[nag]

2 hours ago, Sonu_Patel said:

Recently my friend living legend moved to Texas and closing a little over a Million dollar home.. 

Despite paying 40% down payment the monthly mortgage payment is $6500. 

he is crying only $500 is going towards Principal. 

 

Vacchinava.. neeko good news.. more and more fintech companies are reducing the work force by at least 5%..  hope.. nee kadupu sallabadathi iga.. 

[VictoryTDP]

2 minutes ago, nag said:

Vacchinava.. neeko good news.. more and more fintech companies are reducing the work force by at least 5%.. 50% hope.. nee kadupu sallabadathi iga.. 

appudu fire thagguthadi

[Moon_Walker]

From Blind

Hello,

My friend was a Software Engineer at Meta and was laid off in Spring 2023. He has been unable to find a job since then and is now being forced to sell the $1.475 million dollar house he bought in Carnation, WA in early 2022 and they have been in the house for 1.5 years. It particularly sucks even more because he was able to lock in a mortgage rate of 3%.

His wife has a job but she has a normal job and earns only $56k annually.

The only silver lining they have is that have not yet started their family.

My friend and his wife pulled themselves out of poverty due to his job in Tech and they were finally happy that they now had a real estate asset that would keep them out of poverty. Now that same asset will push them back in because they'll be selling at a loss.

I feel for my friend because I can't help him out of this jam as I was also recently laid off.

My TC: Was $140k -> $0
Friend's TC: Was $270-ishk -> $0

 

[kakatiya]

Ofcourse.  On a 800,000 home with 8% interest is close to 1.7 million. 

[Paamu]

1 hour ago, Moon_Walker said:

From Blind

Hello,

My friend was a Software Engineer at Meta and was laid off in Spring 2023. He has been unable to find a job since then and is now being forced to sell the $1.475 million dollar house he bought in Carnation, WA in early 2022 and they have been in the house for 1.5 years. It particularly sucks even more because he was able to lock in a mortgage rate of 3%.

His wife has a job but she has a normal job and earns only $56k annually.

The only silver lining they have is that have not yet started their family.

My friend and his wife pulled themselves out of poverty due to his job in Tech and they were finally happy that they now had a real estate asset that would keep them out of poverty. Now that same asset will push them back in because they'll be selling at a loss.

I feel for my friend because I can't help him out of this jam as I was also recently laid off.

My TC: Was $140k -> $0
Friend's TC: Was $270-ishk -> $0

 

Meta lo job poyaka malli job raaleda..... or high expectations unnaya...... money management lo failed I think. Chala places lo invest chesi untaru - full story evadu chepparu

[kakatiya]

15 minutes ago, Paamu said:

Meta lo job poyaka malli job raaleda..... or high expectations unnaya...... money management lo failed I think. Chala places lo invest chesi untaru - full story evadu chepparu

Only W2 jobs .he might be on visa