A community for discussing and documenting the second great housing bubble.
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.
So the landlord is loosing 5k a month? No wonder they want to sell.
Not really losing. They just have a tenant paying half the loan.
The owner gets free 6k a month for their investment in the house.
Also wtf 6k a month rent??????????
Also wtf 6k a month rent??????????
That's the bit that got me. At first I was like, 6K per year rent? Although 11k is going to be a shock it's not extortionate, especially for a penthouse!