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/biz/ - Business & Finance


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14478520 No.14478520 [Reply] [Original] [archived.moe]

>Boomer parents bought a house for 300k USD when they were both 27
>Now 60 and want me to take it over
>"Sure, how much is left on the loan?"
>310k USD
HUH, HOW IS THIS FUCKING POSSIBLE?
HELP ME UNDERSTAND THE BOOMER MINDSET.

>> No.14478545

>>14478520
It might be an interest only mortgage

>> No.14478643

>>14478545
Why'd you do that? I thought buying a house was all about in the end actually owning it.

>> No.14478652

Are your parents negroids?

>> No.14478672

>>14478652
Huwhite.

>> No.14478679

>>14478520
have you seen locust eating a field until there is nothing left, destroying any future for crop growth...thats a boomer

>> No.14478726
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14478726

>>14478679
>let's blame our parents and not the jew that is printing money from thin air

>> No.14478749

the house is probably worth a shit tone more than 310k

>> No.14478813

>>14478749
This

>> No.14479069 [DELETED] 

>>14478652
Only whites let themselves get scammed like this. Niggers got burned on too many sawdust mixed cocaine so they're careful

>> No.14479083

>>14478726
>no no, boomers never do wrong, it's jews/lizards/Martians who is to blame when they fuck it up!
Ok boomer

>> No.14479114

>>14478520
>33 years
>300k house
>calculate for inflation and appreciation
>house is worth around $3-4MM
>won’t pay $310k to get $3MM

Moron.

>> No.14479455
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14479455

>>14479114
>inflation on the principal of your loan

>> No.14479472

>>14478520
Maybe they bought it, then took out a second mortgage or something when the house was worth millions.

>> No.14479486

>>14478520
home equity loans

>> No.14479487

>>14478520
So how long left on the loan or do you have to refinance it for another 30 year term?

>> No.14479502

>>14479472
Must be this.

>> No.14479519

>>14479455

I the house was worth $300k 35 years ago and it's in a non-shit area it should be worth upwards of $1m today.

>> No.14479811

>>14479519
If his parents took a 300k mortgaage 35 years ago then the principal on their mortgage today would be 300k discounting whatever they paid off. It would never be $1m unless they took out multiple, recent mortgages.

>> No.14479956

>>14479811
We aren’t talking about the loan you absolute fucking brainlet. We are talking about the value of the house. OP could sell the house pay the entire loan off and have a few million to play with. Shut the fuck up, it’s an obvious LARP anyway.

>> No.14479962

>>14479811
He's saying the value of the house would be 1 mil, not the amount owed on the mortgage.

>> No.14479983

>>14478749

It's magical thinking. The house is the same but older, your money is just devalued.

>> No.14480069

>>14478520
If they paid $300k for it 33 years ago, they would have to have bought incredibly badly for it not to be worth multiples of that now

>> No.14480098

>>14479983
That logic doesn't apply to land and other natural monopolies. There are a shitton more people on this Earth than 30 years ago.

>> No.14480144
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14480144

>>14478726
>>14479083
You're both partially right, Der Juden offered the Boomer a trade: A life of hedonistic excess in exchange for their childrens future prospects. To which, the Boomer gleefully accepted.

>> No.14480153

>>14478652
Black people are smarter than to fall for a scam like that. They're more likely to stick with renting out of laziness and bad credit. Only a white person could do something as stupid as what OP describes.

>> No.14480157
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14480157

>>14479956
>>14479962
I thought that OP was expressing frustration at his parents' unpaid mortgage, OP may only have 300k to pay but surely OP's parents paid a loooooot of interest by now, and at a time when 300k USD had more purchasing power than it does now.

>> No.14480197
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14480197

>>14478679
>>14478726
faggots

>> No.14480328

>>14478520
Because all around us are the symptoms of a disease. Our forebears lacked the intelligence and the grit to resist the diabolical plans of a tiny elite. They fell for every trick. They never thought about you. Now you have no choice but to comply. Apathy. They let it all go. You were sold.

>> No.14480682

>>14480328
At least I still have my foreskin

>> No.14480726
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14480726

>>14478726

>> No.14480737

>>14478520
its only worth paying if theyre going to die in the next 10 years

>> No.14480762

>>14479486

This


Lots brainlets here.

Your parents are retards btw

>> No.14480886

>what is a second mortgage

>> No.14481328
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14481328

>>14479069
no, it's just that niggers don't even understand when they are being scammed so they don't complain

>> No.14482402

>>14481328
>niggers don't complain
ebin

>> No.14482923
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14482923

>>14482402
they only complain when they can understand, like when they can't afford chicken

>> No.14483035

>>14478520
What is the value of the home in the last fair market assessment? Your parents probably refinanced the home years ago to take it some equity. But I would wager that the house now is worth far more than 300k.

>>
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