Because the Rent Won't Wait (fixed rate, lender, landlords, heat)

[freemkt]

The people pushing for a $15/hr minimum wage say that's why they want $15.

Why don't they say The Mortgage Won't Wait?

Do landlords have an instant gratification issue that lenders don't have?

[reenzz]

I don't care what they say. In my area of NY no one can afford rent making only $15.00 an hour. The only thing that will be accomplished by raising the minimum wage is that I will have to pay $10 for a gallon of milk at my local 7-11.

[Katie1]

Rent goes up at the LL whem But Mortgage stays the same. 30 year Mortgage you sign Today Wont change till the place is paid for.

My 1st mortage was $75 for 7 years ... My 2nd was $350 for 10 years. I became disables in the 8th year & lost it Didn't get my SSD for 4 more years! The Banks Forclose after 6 months of non payment.

[reenzz]

My mortgage payments have never been the same. Due to escrow increases, my mortgage this years went from $1584.00 to $2016.00.

[Katie1]

the Basic Mortage Doesn't go up nor the interest if locked in. But Insurance Heat Electric will. I Never sign on a mortage unless it Locked! Yep their are those crazy Balloon payment so watch out for them!

Rent can go up yearly tho & you don't have any control.

[reenzz]

My mortgage went up due to hurricane Sandy. The mortgage company forced me to get flood insurance for $6500.00 a year. My flood insurance is included with my escrow mortgage payments. I have a fixed rate mortgage. I do not have a balloon payment.

[Katie1]

Well then it wasn't your mortgage that went up it was the Insurance.

[ptt]

People who fight for $15 minimum wage can't afford to own a home. That's why.

[Katie1]

That depends on where they live. LL want 3 times the rent Mortage co don't.

[ptt]

Originally Posted by Katie1

That depends on where they live. LL want 3 times the rent Mortage co don't.

I wish i could charge 3 times.