If landlords can’t pay back loans on office buildings, the lenders will suffer. Some banks are trying to avoid that fate.
Hard times are likely ahead for a lot of people. Mind your expenses and plan to save where possible just in case. Apologies for having a doomer outlook; I’m very cynical about capitalism, especially in the USA.
lol how tight would it be if I could buy my own mortgages off of the bank for a discount
Depends on how likely your bank thinks you are to default on your mortgage…
Tell your bank, you’ve lost your job, going to prison, and you’re newly divorced with large alimony payments. /s obviously.
… hold on, let him cook
They’ll just wait for him default then sell it to a corporation or greedy landlord. You can’t buy a house because they buy them up.
They’re fixed rates, maybe that’s a good idea!
You joke but when you default on a loan they will eventually offer to settle at a lower amount
At the expense of your credit score tanking and never being able to recover.
Your credit will eventually recover, and you already have a house!
Oh no you get a lower score in a stupid game