Government Backed Second Mortgages Approved! More American Debt

[@aprilgentile5438]

Why would anyone use equity from their home to pay off unsecured debt ! Your home should not be used as a piggy bank.

[@cholman57]

why not ? what good is equity if you can't use it ?

[@aprilgentile5438]

@@cholman57 are using your property, which is a secured debt to pay off. Unsecured debt is not a smart decision. Because then, if you default on your new debt, your default thing on your home if you default on credit cards, which are unsecured, your home isn’t at risk.

[@BigTomInTheBasement]

​@@cholman57its great for low risk situations, but of you're already drowning it's best not to risk your house too.

[@bobbiecrider6964]

@@cholman57 I would not go deeper into debt. There are other ways to pay your unsecured debt besides cashing in on the home. If I go into debt for 2 grand I pay that two grand to zero balance. It's impractical, don't replicate by borrowing more.

[@gimcrack555]

@@cholman57 So you live in debt? I been debt free since the age of 36. I'm 60 and still debt free. Been paying cash and living with in my means for those many years. To me all debt is bad. No such thing as good and bad debt. At least in my book.

[@DPhasely]

People are going to pay off those credit cards and get right back in credit card debt, so they will have to pay a 2nd mortgage plus the new credit card debt.

[@ravenr876]

I burned mine

[@starrystarrynight6281]

You got that right!

[@bigvalley4987]

You are absolutely right. A financial channel that I listen to always say time will be on your side. You just have to chip chip paying down your debt. With your wages and earnings. And try to save a dollar.

[@MF-ml8eh]

You are absolutely right! It's like someone who got a gastric bypass, The brain was not changed so they fatten back up, The same goes for those that borrow to pay off their CC debt, They are back in the same boat a couple years later, But worse because now they have the CC debt plus the second and they are staring down the barrel of a BK.

[@user-cj4rm7em7x]

Ask your Self, Who Will Gain From these Deceitful Acts. They Are Setting People Up To Fail!!

[@windywalling]

It's all being run out of the City of London with the Bolshevik banking families the beneficiaries.

[@user-vb8yf8be3l]

Who do you mean.. People go to a bank to borrow money to buy a house they beg for the loan , Then the house goes down in value and the owners think they are owed something by the bank

[@ladycactus110]

I agree! The seductive ads for useless and/or overpriced possessions and the predatory lender practices are irresistible for an ignorant, gullible, puerile public that’s being told every day “you DESERVE this.” It’s part of cultivating a subtle victim mentality. The profiteers know exactly what they are doing. And it’s part of a bigger plan. Caveat emptor! Repent! The EnD is NeAR😊

[@lisalove8526]

Mortgage = Death contract. Back in the days when we had debtor prisons I think people understood what getting into debt really meant. In current times it has become so easy to walk away from your debt with ZERO repercussions, I have friends who do this and 7 years later get into a whole another round of debt. Until the credit spigot tightens nothing will change, IMHO.

[@leslieandren798]

Yes, that is literally what a mortgage translates to from French. A death contract!

[@Ironmom-momsolo]

This will never change under our debt based currency system, debt is considered currency, so they will continue to squeeze until there is absolutely nothing left to take

[@Christine-777]

@@leslieandren798 I had to check this out. This is what I found. 😬😣 Does mortgage mean death pledge in French? The word mortgage comes from the Old French word “morgage”, which directly translates to “dead pledge”. (The prefix of the word, “mort”, means dead, while the suffix, “gage”, means pledge.)

[@eddieloujones2673]

Just caught the end of the live but my gosh. They are doing everything to prop this thing up. The one thing that could have helped was to keep rates high so it's too expensive to tap equity and people will sell to bring more inventory to the market. Now they are opening the spigot of low rates but only for second mortgages! Why are taxpayers subsidizing homeowners who have already seen the greatest home appreciation in my lifetime. They are trying to stem the pop in the bubble. All this is not the sign of a healthy economy. Just imagine how much debt is out there. People are going to get crushed if this pendulum swings the other way. These are such strange times. Never seen anything like this in my lifetime.

[@nonexistent5030]

Get used to it. THIS is the new normal.

[@hollymartin3291]

Then you must be young, as this all happened in 2008. And here we are again.

[@juanresendiz56jr]

Definitely remember 08. If I knew then what I know now I would have bought 1 or 2 houses and then sat on them and sold them later on. If this is a repeat of 08 I’ll be ready this time!!

[@mg-by7uu]

Homeowners may have seen their house appreciate by 50% since 2019 but if they sold it the money would buy 50% less stuff

[@bobbiecrider6964]

Hey, Sold all my properties in Texas 2008. Debt free ever since. BTW Today Females own most of the personal debt In America. There will be no debt jubilee forthcoming. Crash and Burn how sad Most Men don't need her but she needs him.

[@LC-777]

Financial Debt 1:31:00 Leslie so eloquently describes the rise and fall of nations due to debt; How it may mirror the current situation in America. Good job.

[@DeCarlisle]

What has been is what will be, and what has been done is what will be done, and there is nothing new under the sun. Ecclesiastes 1:9

[@JimmyLeeJr]

My favorite part about the same predictable thing happening over and over is the truly insane conspiracy theory that this is all an accidental coincidence. All the graduates of the Ivy leagues, all the bank owners, all the organized criminal syndicates are just all accidentally becoming absurdly wealthy while accidentally engineering a brutal collapse for us little people. They are feasting on us, by accident. And they never accidentally alleviate or fix this btw, every single small action only serves to further this agenda that helps them and hurts us. And they never intended any of this.

[@bobbiecrider6964]

Cup of divine fury, destruction of wealth, certain judgement inevitable. Justifiable judgement. There will be no jubilee coming, protect the innocent. Isaiah 51:17

[@bobbiecrider6964]

Just remember The females own most of the personal debt In America and they vote.

[@toddkobylarz4758]

100% insanity.

[@civilguardk9llc551]

Oh but wait there's more. Just imagine when the value of their property drops. They transferred debt to debt to initiate more credit card debt on a fiat dollar with inflation on a continuance. Hmmm what program is next to bailout the car industry?

[@livingwholewithnicole]

I work for a company as a money coach that helps families get out of debt and build wealth at no cost to them. The amount of negative budgets by extreme amounts that I have seen lately is mind blowing! 2 families in the past few weeks are just over 2k negative a month! What is getting these people by from what I have witnessed is either tapping into savings from old home sale or credit cards. All of this will run out!

[@jameskeefe1761]

Horrifying. We know the key to getting people out of poverty is building generational wealth in asset protection trusts, this can involve "good" debt to buy good businesses but not bad debt (non income generating assets)

[@wxieqdsiwevbks]

Whoa.... That is scary!! I hope you can help them figure out better financial planning!

[@gsdlover8967]

HI Todd I received a letter yesterday form American express informing me that they are changing my interest from 16.99 APR to 37.99% APR and if I reject these changes they will close my account 😂.. my credit is 850 so yes things are bad. 🤔

[@10317]

Damn. And the government turns s blind eye to this predatory lending?! Close the account

[@gsdlover8967]

@@10317 if I close it it would affect my credit score 😒 but I am not worry I don't use credit cards if I can't pay it off each month 😊

[@bigvalley4987]

I received that same letter. But I avoid carrying debt that I am unable to pay off in 45 days.

[@alphaomega1351]

A first mortgage is bad enough. The price of real estate is literally based on how much credit a bank 🏦 will provide rather than what consumers actually earn and save. The entire goal of all the debt is to keep you enslaved until the day you end. 😳

[@Joce123]

Seriously..look into velocity banking to pay off a 30 yr mortgage in 7 years.. It would be very smart for young people to live at home with their parents until they can afford to buy a house for cash if not 100% at least 75% cash... People also have to consider the cost of a vehicle.. Having the cash to pay for a brand new inexpensive car makes sense... Living with parents might mean that wherever you get your job out of college that parents are moving to that city with the college grad

[@joeshmoe7899]

​@@Joce123 what jobs? Corporations have stated they are no longer hiring white males.

[@GigiEmbrechts]

Lack of education is our own fault, we don’t even teach our young simple finance in school??? WTH

[@krackerToo]

Hosea chp 4 vs 6 Shalom

[@10317]

Gigi I totally agree.

[@ChristineGerbino]

Our parents taught us. ❤️

[@daneengibson7336]

They want people to lose their house. 2030 you will own nothing. Blackrock can then buy it.

[@niurkaguzman48]

No one in charge want 350 million bosses

[@Smuscles7]

Homes are simply so unaffordable. Pre covid avg monthly payments with tax/insurancee $1,600-$2,000 now on a 400k houses with 20% down (80k which many dont have). which is aalso a shack at 400k most places. Monthly payment is well over $3,000 wage growth did not keep up...

[@alyross2850]

Apparently in some states at least, taxes and insurance have unlimited potential to rise. How can people who are using their equity to live on, pay yet another additional large bill or two? Plus the HELOC bill? I would like to see Air B&B bust, shaking loose all of those potential family homes. I won’t feel bad for investors, large or small. But I’m not looking forward to people losing their primary homes, even if they overbought just to look rich to their neighbors (who they don’t even know).

[@sb5969]

This whole thing is batshit and the people its meant to be marketed to are the same ones who will never see the insanity of it, or their own choices. The movie idiocracy is looking real simpsonish

[@stevenshorten6184]

The American Homeowner has an infinite trust fund now. You can endlessly borrow against your home and then refinance later. All the while, the wealth gap will be so far apart that younger generations will simply cease to exist.

[@jameskeefe1761]

Its no trust fund, Borrowing from your house results in an erosion of capital due to the cost of the interest and the fact it is not income generating unless you invest it. real trust funds generate income.

[@user-vb8yf8be3l]

In 19 58 and 1960ties in Silicon Valley you could buy a new house for 99 down and 99 a month I bought my first house on Newhall Av in SanJose for 14 000 in 1968 My mortage including taxes was 135 a month I was also a carpenter and contractor and built and worked on many custom houses in the bay area, I bought 3 acre in south SJ for 7500 in 1971 and built a 3000' house for 20 dollars a sq ft today it is 600 to 800 and a mansion will cost 1000 t0 3000 a sq ft Property taxes a a house bought today is 25 to many more thousands a year

[@nancygreen8186]

The government keeps kicking the can down the road and Americans are going to wind up with broken legs.

[@karenjensen2345]

We just got back from a British Isles cruise. 🚢 in England, Scotland and Ireland they are issuing 100 year loans for houses!!!! And all the offers are sealed bids so it is still almost impossible to buy anything. We have it bad but Canada and Holland only have 7 year loans and then they "recalibrate them" and they are always higher and people are defaulting.

[@msingleton]

Everyone mad about Biden’s student loan forgiveness should be absolutely screaming about this. Governments backing HELOCs is absolutely insane.

[@johnnyonthespot9370]

If it were actually forgiveness nobody would be mad it’s the government paying off government loans with tax payer money what should’ve been done instead is negotiate fair tuition rates with the institutions themselves and not use tax payer money to “forgive“ some people’s debts while the rest of America has to pay for their own what about the people who worked 3 jobs and sacrificed to pay their way through college or pay off their loans early where is there “forgiveness”

[@daviddaugherty1011]

The government is the owner of the student loans. Regardless, only a fraction of the loans were forgiven. ​@@johnnyonthespot9370

[@peachyguy1936]

They shouldn’t be predatory loans. It’s my understanding that the interest on the loan starts at the time the loan is taken out. And the interest compounds daily.

[@peachyguy1936]

Monopolies are a huge problem. It goes along with greed.

[@robertbender73]

BOA was forced into the Countrywide deal by govt as Chase had acquired a large mortgage servicer, and was unable to take on more risk.

[@juliejones9708]

Thank you Todd for having Leslie on your show ! It’s a great conversation you two are having and I appreciate listening in and learning so much .

[@MasterRoss-sn7dl]

I cannot comprehend how avg ppl can afford houses and anything right now. A medium size DQ Blizzard is 6.99 plus 10.25% Chicago tax. Almost 8 dollars. Lines down the street for DQ.

[@katethielmann4244]

IF people dont have the ability or discipline to pay the CC debt they have now, HOW will they when they have another payment thus the equity loan. IF people in this economy NEED to supplement their income with CC to pay for expenses, what majes you think they then will keep the CC need away. 1.....helping the banks make money 2....break the backs of Americans 3....Govt back encouraged loans stealing equity give the government a bunch of homes to take away and possess. Feeds their narrative " You will nothing and be happy " Problematic that the govt would " offer" this insane solution to a populace already stretched means it is intentional. So sad.

[@ld4122]

In regards to reverse mortgage, could be a terrible idea. The greatest addiction problem is gambling. When a gambler takes a reverse mortgage, there goes all the equity from the home and when they need to sell to move to assisted living, too bad, no equity and then the family is stuck with a huge problem. This happened with my mother, such a huge problem she got herself into which extended to me.

[@peachyguy1936]

How would it extend to you. Her debt is her debt. Not yours.

[@loribayne5109]

This absolutely has happened before where a private citizen sued the bank and the court ruled the debt invalid. I'll find the case and out in the comments.

[@leslieandren798]

Yes, that has and can happen. However, systematic forgiveness of debt by one or more financial institutions rarely occurs.

[@john.johnb_online1438]

I lost a partner, my buddy my future business partner. I’m still grieving. However, the tsunami is subsiding at times. Love the channel Brother 20:26

[@brianmurphy5245]

Beyond that the banks will end up with the homes this is insanity

[@starrystarrynight6281]

But the huge real estate conglomerates will come in and buy up houses pennies on the dollar like what is happening to commercial real estate now.

[@maegangibbons792]

I love watching Leslie on the pod!

[@GigiEmbrechts]

She is fantastic.

[@robertbender73]

If you received a modification, the debt was added on to the backend with a second mortgage. Few if any were released or forgiven, unless docs were flawed. If you had a mod, look at your original agreement and certify with lender the status of the second before listing for sale, as it will come up at closing and have to be paid. Even with real estate prices up, many are still not at break even on equity with the second.

[@sam_1570]

In other words a lot of homebuyers are fcuked. 😢

[@GigiEmbrechts]

Short sales were a big thing in 2008 to 2012. Helps people get out and investors to get rich. We just didn’t learn and here we go again.

[@alyross2850]

As for the election, she’s completely wrong. It’s really so bad that even our government can’t save us (😬 already a scary statement). But…I remember how quickly our economy started to boom right after the 2016 election with the manufacturing jobs, removing regulations, more. I remain hopeful.

[@leslieandren798]

I remain hopeful too! Just skeptical of DC.

[@pjnewton1014]

Why wouldn't you file for bankruptcy? Now you can lose your home because you overspent at Christmas time. What in the world... Who signs on to that?!

[@peachyguy1936]

If you file for bankruptcy you don’t necessarily lose your home.

[@Hankandrex]

​@@peachyguy1936 you're missing the point entirely. A bankruptcy doesn't discharge the secured debt. It does discharge the unsecured debt.

[@jeffsurfanderson]

By them allowing this bill to pass to get a second mortgage how how can they say we're not in a recession where they're doing the same Playbook as 2007 8 and 9. And by then allowing this to happen proves that we do not have a good economy so how can anybody fight for this Administration saying that everything is okay

[@cj6585]

Many choose to not see the elephant in the room I suppose

[@CarolynWheaton]

Government please help Florida homeowners with assessment payments.

[@td5982]

Come on IT IS AGAINST THE LAW FOR ANY EMPLOYER TO HIRE AN UNDOCUMENTED IMMIGRANT/WORKER WITH A FINE OF 10 THOUSAND DOLLARS PER ILLEGAL WORKER TO THAT EMPLOYER WITH POSSIBILITY TO BE SHUT DOWN AS AN EMPLOYER AND THIS SHOULD BE THE WAY. SO HOW CAN THESE PEOPLE ACTUALLY BE WORKING AND WHERE. COME HERE LEGALLY OR LEAVE PERIOD! NOT MY TAX DOLLARS WASTED ON THESE PEOPLE

[@lubavasilieva3156]

@@td5982 you can form an LLC and legally receive payments to the LLC account (this solves employer problem). Then your LLC becomes a subcontractor in, say, roofing business. By law the LLC owner cannot be self-employed by LLC if s/he cannot work in US legally. But no one cares at this point. And then there are cash-only cleaners, babysitters and contractors. Plus working under someone else’s SS. Plus being employed by a fly by night company with lax verification standards, which “loans” their employees to various manufacturing facilities as “contractors”.. facilities owned by Fortune 500 companies in many cases. They only need a neighbour(!!) to sign a paper that says they have looked and verified your I-9 documents. As IT contractor my employment eligibility has been processed via those “verifications” a few times. Recall feeling weird asking a neighbour to sign smth like that. Like my neighbour being an expert in identifying fake vs real document..

[@peachyguy1936]

This isn’t the only administration to overspend. To blame this on one administration is misleading.

[@LC-777]

Leslie, Many more new props in Texas are preplanned to be tax credit and / or section 8 (can be both at the same time) Coincidentally, The Governor of Texas brought the Federal Tax Credit program under the reigns of Texas last July. So instead of the landlord going to the government for approval, they now go to Texas for approval in the nick of time to quickly be able to begin accepting a large scale of move ins . This, of course, has impeccable timing for the influx of visitors coming in over the border. My question: Are you seeing this in other parts of the country? I heard other governors are pulling it in to their states as well? Btw, we really appreciate your investment of time and experience in this podcast, very informative. Thank you

[@LC-777]

Tax credit allows the renter to pay at a greatly reduced rate. The props are often very nice; some with garages, jacuzzis, wood like floors, stainless packages etc.

[@leslieandren798]

Many new apartment developments are required to have some kind of moderate and/or low income housing set asides that they have to provide in order to get the zoning. These new developments have to provide a certain percentage, let’s say 20% but it varies by location, of the units that have to charge rents that are below market rates. Those rents in new developments are based the median household income for that area. So, what occurs is that in order to qualify for these affordable units, a renter needs to show that their income is at or below some % of the area’s median income. If they do qualify, then their rent is less than the “market” rate rents that are charged for the rest of the property. These affordable set asides are used on new apartment developments all over the country. So, some states push their tax credit programs and others use affordable set asides. Some states use both affordable set asides and tax credits.

[@animal9370]

Ive never had a, Credit card, Car loan, Mortgage or a credit score. I pay Cash for everything. 50 years old with Zero debt .

[@ericmcabee5823]

If the FED really wanted to stop inflation, 1st mortgage rates would be in the double digits. Thank you for your information, sir!

[@grahammatthews1428]

I have used a Heloc very successfully. I used it to pay for a car and paid it back in 18 months. It was also in the wings if I needed an emergency fund. The credit union was protected... So was I.

[@VictorLaszlo-iz3il]

It's an old piece of advice but get a pen, a calculator and a few sheets of A4 and write down every single penny/cent you've spent in the last 30 days, even items as tiny as a packet of chewing gum. Then get rid of everything, that your paying out, that is not ABSOLUTELY ESSENTIAL to living. If you have any excess each month left over use it to build up an emergency fund. Never ever touch your emergency fund unless you absolutely have to. GET RID of anything that incures interest charges. It might take a couple of years to get fully back on track, holidays and meals out may have to go but once you have a lump of cash, in a shoe box under your bed, so to speak, sleeping at nights becomes a lot easier. NEVER spend money that creates an interest charge on a CC or loan.

[@auctionmusic]

never get a heloc. If things are tight let the credit cards go into collection, let the bank write them off and sell to a debt collector for 10 cents on the dollar, then when the debt collector who bought the debt comes calling, offer to settle for 30% they will take the offer.

[@jameskeefe1761]

What does that do to your credit score. I mean, you dont do either a heloc or credit card to cover personal expenses. Id say, move out of the house, rent it out, and move into an RV and save your equity.

[@auctionmusic]

@@jameskeefe1761 you can stay in your house, no one has a spare RV laying around to move into heh. Sure, your credit score is trashed....good....will keep you out of future trouble, but at least you have a roof over your head. In fact, after you pay off the settlement(s), one at a time and the smallest balance first, you will receive a deluge of sub-prime credit card offers which you do not respond to. If necessary get a second or third job to get through the settlement period.

[@cj6585]

​@jameskeefe1761 yeah, but have you met ppl these days. A MESS. It's hard as all get out to find someone who will care for your home. It'll cost you.

[@theritaradar]

You said people are paying 3x the amount for a loaf of bread. Yes, because American Express encourages you to use your card on those purchases. I worked for them and yes that is a fact.

[@seannotaro473]

Tom selleck and reverse mortgages.......no bueno

[@Zhe-Zhe]

What an excellent podcast. Thank you both. You explained everything so well!

[@jackiechai1545]

Social Security claims my mother must wait for an “open” slot for assisted living. She already sold the family home for peanuts due to 50 years deferred maintenance just to pay rent. Now at 88 she is unable to live alone and needs assistance. Is anyone building assisted living centers???

[@aprilgentile5438]

Nope either her children help their mother otherwise, she’s going to end up in a dump with low care I think they allow her to keep a few hundred dollars of her check if that much.its a disgrace!!

[@starrystarrynight6281]

The government does not pay for assisted living. I ran one. They will only put her into a nursing home if she is destitute and they are not the nice places.

[@MF-ml8eh]

@@jackiechai1545 Have you ever thought of taking care of your mother? You are 20 years from the same problem.

[@gubzs]

Remortgaging the house to pay off credit cards has to be the most cartoonishly irresponsible thing I've seen in a while.

[@pamelamehl5668]

@@gubzs Before selling your primary residence to pay off credit cards, seek counsel with a good bankruptcy attorney. Chapter 11 Reorganization. The credit card companies can’t touch your house. In Texas, your homestead’s first $150,000 in inequity plus 2 horses with saddles (not kidding) are untouchable by any debtor.

[@jeffsurfanderson]

If people take out Equity out of their property they should be investing it to make money. For me I would play this money game where I would buy 70,000 worth of gold gold has been appreciating ever since 1971 ends with the debt bubble and the money Printing and inflation gold will end up going up exponentially in the next few years. So when a payment is due you just go ahead and return one of those 1 oz gold coins can you use that money to pay off the next 3 to 4 monthly payments of your loan no money coming out of your pocket you're only going to make money at the end when gold appreciates because over that time period you will have paid off the loan and you will still have gold left over

[@user-vb8yf8be3l]

Most of the time up to 2018 or so The buyer got a deed upon sale from the bank if they were the high bidder for the loan... What most don;t understnd about foreclosures The bank does not steal the property The bank is actually selling the loan at the sale and cannot sell it for more than is legally owed to the bank It could be more than the bank loaned , All loans and liens in junior positions are wiped out at time of sale

[@michaeljacobs4546]

@ 31:00 I get this argument, but what about the other argument that immigration inflow into the workforce depressed inflation? And I am not saying that I buy this.

[@carloswhizz]

Same in the UK but with a slightly different slant: we have short term low rate mortgages that switch to higher rates. Banks and especially building societies are lowering rates expecting a cut in August by the Banķ of England. These will allow remortgages for larger amounts at a lower rate...for now...

[@user-vb8yf8be3l]

My wife followed every forclosure in Santa Clara county ( Silicon Valley ) From 1980 to 2015 At the most there were 150 Reos a day. 2nd s and 3rds were losing thousands on the reos

[@rustykatt3870]

Are we in a depression??

[@MasterRoss-sn7dl]

No.

[@NickDavid-dd3el]

Soon.

[@Kacper-td7lq]

This seem to be contradictory to the idea of own nothing, just rent.

[@curtdulle642]

Leslie just say it. FJB!

[@ravenr876]

What about the taxes people owe? That's another debt on top of credit cards. I know someone who is taxes bad in Pennsylvania, and has to take out a loan to pay federal taxes. This country is doomed

[@broccolifarmssandiego2184]

What happened with fixed rate mortgages ? All my friends with them seem to think they are fine

[@rolandrickperry208]

Excellent guest.

[@jstro7136]

2.5 billion isn't enough to make a difference. I think that number will probably be raised.

[@cobrabtc]

In Texas, the VA doesn’t allow cash out refinancing! That sucks too.

[@therealestake]

More debt for the Boomers; more inflation for the Millennials - fantastic. Leslie is a rock star!

[@grahammatthews1428]

Is FNMA going to back 2nds or Helocs? Also ... Now I think you can't write off the interest unless it is used for home improvement projects.

[@willlywillly]

Love Leslie. Please bring her back again! 👍

[@ChristineGerbino]

And they are taxing the 💩 out of us to pay for the deficits in school budgets (pensions!) and kids still can't read, write or do math at grade level. 😡🤬😡

[@timsprong1490]

Thank you for warning of foul language.

[@MickB52s]

CLO distress at 10%

[@Atlas5-jk8fy]

Ray Dalio created index funds, literally one of the chief architects of equity bubble in stocks also fueling cheap easy lending standards. The same ppl who helped create this are covering their a$$ets and shifting blame.

[@jameskeefe1761]

I thought that was Bogle. Dalio ran a Hedge Fund.

[@jackiechai1545]

Save us Leslie 🎉

[@user-vb8yf8be3l]

My neighbor lost his big house to the bank in 2010 or so and fought the bank in court until 2022 The bank finally sold the son the property the house was vacant all this time.

[@michaeljacobs4546]

@ 16:30 The regulators should not let banks give these to people with high credit card debt.

[@jaimelopez-gi3oo]

Never, take out a second mortgage, we lost our home that way.

[@commonsense6846]

Leslie is amazing!

[@stephenwatson672]

LA news said home owners don’t want to sell because locked into low rates. Cash purchases

[@simple1me302]

Pay cash for everything Wall Street needs to be shut down 5 years for stockholders to be paid off.

[@ladycactus110]

Please Leslie, do go to the end of where you think this might lead. We can take the truth.

[@juanjuarez5727]

Stay away from debt...

[@dibaz1]

Does anybody know who she’s referring to, was it Roy Dellio or Ray Dalio or something like that??

[@MoshiSushi1]

kzbin.info/www/bejne/rpjYkqBmibCArZosi=A5v-zrGr4ryhkeSn ^^ Principles for Dealing with the Changing World Order by Ray Dalio

[@leslieandren798]

Ray Dalio, founded largest US hedge fund, Bridgewater Associates. The KZbin video is about the Changing World Order.

[@civilguardk9llc551]

Why are we having these conversations? The system is broken because of Keynesian and MMT. If the dollar still had purchasing power the United States economy could flourish if there was fiscal responsibility in congress.

[@jameskeefe1761]

The problem is the government especially social security retirement because it sucks up family wealth, you could otherwise invest that money into a asset protection trust to care for your parents and which can be inherited to create intergenerational family wealth which is to the key to getting out of poverty. Marx hated the idea of inherited wealth and families more than anything else.

[@mattanderson6672]

Thank you

[@pjnewton1014]

I do believe that the whole student loan forgiveness fiasco is pretty strong precedent for not forgiving loans.

[@ChrisMIA]

Ray Dalio is my economic spirit animal~

[@jamesholmesjr982]

That's what's going to happen, manufacturing is in the process of being brought back to America

[@MamaLifeBre]

Just renting and saving up buy something mostly in cash

[@jeffsurfanderson]

Yes she does need a KZbin channel she should also be on your show maybe bi-weekly if not weekly

[@1138prometheus]

This means that when the price drop begins the likelihood of borrowers walking away from the house is much higher. Mortgage is underwater and now It's jingle mail time again🎶🎶

[@davidwilliams4498]

2nd morgage is never good. A refi cash back is ok if you leave enough equity if you have to sell. Can't believe gov allows a 2nd mortgage or the 08 foolish balloon morgages where its cheap for a few years then goes into insanely high interst.

[@PaulbylPaulbyl]

It baffles me (only a little) that this did not make some noise in the news. It is at least as controversial as student loan forgiveness.

[@SELKCOMM]

Who else is listening to every thing they’re saying after two hours?

[@247Deluxe247]

Leslie does need a KZbin channel.

[@DieDarlingRadio]

Could a person take this second mortgage loan out from Freddie and then declare bankruptcy? Or is this loan like a student loan that cannot be wiped out by bankruptcy?

[@leslieandren798]

You can take out a second like this and then file bankruptcy, but the question becomes how did that person qualify for a second if they were on the verge of bankruptcy? If you do file bankruptcy the mortgage lenders get their debt paid first against the home. If there is enough value in the home both lenders get paid off, if not the first mortgage gets paid and some or none of the second gets paid. Whatever value is in someone’s other assets gets used to pay creditors as much as possible. The bankrupt person gets to keep some amount as their “homestead” but it is not much. It stays on your credit report for at least seven years.

[@Godlivesinme2013]

It will be used on the financially ignorant to push and force the introduction of Cbdc

[@brianrozarto7601]

Here's a bright idea! PAY YOUR 30 YR in 15YR knuckle heads!! You DON'T need more stuff....and everyone in our country can definitely eat less....Yikes! Seriously though, I got myself a 2.25% mortgage, I added in a part time job and paying double my mortgage. Just work a little harder.....it's not that difficult?

[@beingjohn392]

This is simply desperation on the part of the Fed. Welcome back 2008

[@carieyounginsurance]

It’s interesting to hear her make the connection to illegal immigration to inflation- I haven’t heard that before…makes sense! Another thing the powers that be downplay because of their terrible policies

[@Leonnie13]

They are like vampires sucking every last drop of wealth from the working people. I have come to see this time in history as a blessing. A blessing to turn to God. To learning knowledge that we lost. Shunning convenience for the great harm it does us. Growing stronger from our weakness.

[@AlexandraKozub-tp7fe]

People living way above their means they want everything right away

[@Solana-t9w]

If you don't find a means of multiplying your income you will wake up one day to realize you didn't plan well

[@LudacrisWilliams]

Truly we need to know that multiple streams of income should be applied because from the CNCB quarters recently their newscaster made it known that If you don't find a means of multiplying your income you will wake up one day to realize you didn't plan well

[@that1redhairedguy]

Scammer scumbags above ☝️

[@that1redhairedguy]

@CassandraNebort scamming is not a profession. It's actually a crime. Nice try tho 👍

[@MasterRoss-sn7dl]

Housing hit a double Top-how are avg families affording this???!!