 Auto defaults increase (by BRAD 20,000 [IN]) Apr 19, 2019 11:33 PM
 Auto defaults increase (by Roy [AL]) Apr 20, 2019 5:24 AM
Auto defaults increase (by David [MI]) Apr 20, 2019 5:34 AM
Auto defaults increase (by Ken [NY]) Apr 20, 2019 5:46 AM
Auto defaults increase (by RB [MI]) Apr 20, 2019 6:16 AM
Auto defaults increase (by Roy [AL]) Apr 20, 2019 6:21 AM
Auto defaults increase (by S i d [MO]) Apr 20, 2019 6:32 AM
Auto defaults increase (by David [MI]) Apr 20, 2019 7:35 AM
Auto defaults increase (by RathdrumGal [ID]) Apr 20, 2019 7:52 AM
Auto defaults increase (by Robert J [CA]) Apr 20, 2019 9:33 AM
Auto defaults increase (by Pmh [TX]) Apr 20, 2019 3:52 PM
Auto defaults increase (by Don [PA]) Apr 20, 2019 4:42 PM
Auto defaults increase (by GKARL [PA]) Apr 20, 2019 4:42 PM
Auto defaults increase (by small potatoes [NY]) Apr 20, 2019 11:08 PM
Auto defaults increase (by JB [OH]) Apr 22, 2019 7:22 AM
Auto defaults increase (by DNB [PA]) Apr 22, 2019 8:20 AM
Auto defaults increase (by Pmh [TX]) Apr 22, 2019 3:14 PM
Auto defaults increase (by BRAD 20,000 [IN]) Posted on: Apr 19, 2019 11:33 PM
Message:
Today’s news article about debt collection:
“Since the financial crisis, American consumers have taken on more debt, and some delinquencies, such as for auto loans, have been increasing.”
My position: people don’t have money - as evidenced by consumers taking more debt.
And when they start losing their cars - increase in auto loan deficiencies - rent default is right behind.
So stay on top of rents. If you don’t get it now there is a great chance you won’t get it.
ZERO TOLERANCE on lates.
BRAD --73.102.xxx.xxx |
Auto defaults increase (by Roy [AL]) Posted on: Apr 20, 2019 5:24 AM
Message:
Brad20K,
I have always believed that tenants put more value on having a roof over their heads vs. making payments on an over-priced, over-financed car. Transportation is very important, however, I think the LL will get paid long before Diamond Jim's Auto Finance gets his money. --68.63.xxx.xxx |
Auto defaults increase (by David [MI]) Posted on: Apr 20, 2019 5:34 AM
Message:
The auto financing companies can repo the car. The best thing LL have is a fat security deposit. I always get the maximum my state allows (1.5 mos); if a tenant can't come up with 2.5 mos rent at move-in, they are not financially qualified ! --50.4.xxx.x |
Auto defaults increase (by Ken [NY]) Posted on: Apr 20, 2019 5:46 AM
Message:
Roy,in class c and d neighborhoods I think you have it backwards,the vehicle they drive is there identity,they will make that payment before there rent payment because the apartment means little to there identity within there group of people.Few people see where they actually live but far more people see the car they drive up in. --72.231.xxx.xxx |
Auto defaults increase (by RB [MI]) Posted on: Apr 20, 2019 6:16 AM
Message:
Ditto, Ken. --184.53.x.xxx |
Auto defaults increase (by Roy [AL]) Posted on: Apr 20, 2019 6:21 AM
Message:
Ken,
I am referring to a dire situation where Class C tenants have to make a conscious decision on whether they want to sleep in a house or the backseat of a car. Identity comes in play only when they can afford both a car and a house. I have tenants who had their new cars repo'd but they still have a roof over their heads because their rent gets paid. The ones who work, ride a city bus to work or catch a ride from a friend. --68.63.xxx.xxx |
Auto defaults increase (by S i d [MO]) Posted on: Apr 20, 2019 6:32 AM
Message:
Another reason for moving to ACH. TAKE the money before they can spend it on (fill in the blank).
Federally insured student loans are almost at 25% default rate, projected to hit 40% by 2023. And yet I still see luxury dorm/apartment complexes being built all around our town's university ($700/month for a ROOM, not a full apartment). And they drive late model cars and have unlimited data plans for their iPhone X. Much of it financed by "good debt" with Ma and Pa on as co-signers and you and me taxpayers guaranteeing the whole mess. ;-)
We seem to be heading for another recession. Not as bad? About the same? Worse? I dunno...crystal ball is murky, as usual.
--173.20.xxx.xxx |
Auto defaults increase (by David [MI]) Posted on: Apr 20, 2019 7:35 AM
Message:
Sid, you should know better. Federally insured student loans are not dischargable in bankruptcy and will follow them to the grave. You and other taxpayers are not on guaranteeing a penny. --50.4.xxx.x |
Auto defaults increase (by RathdrumGal [ID]) Posted on: Apr 20, 2019 7:52 AM
Message:
I just heard a radio ad for house re-financing. They were advertising that you could refinance your house and roll your student loans into your new mortgage. My first thought was -- refinance your student loans and THEN declare bankruptcy. --98.146.xxx.xxx |
Auto defaults increase (by Robert J [CA]) Posted on: Apr 20, 2019 9:33 AM
Message:
I've had crazy tenants that save up their money for months so they could come up with the down payment to lease a fancy used car, in this last case it was a Jaguar. The payments were $680 per month. The rent for their apartment was $800 per month.
When something came up with finances, the always paid their rent late and thought loosing their leased car was more important.
Then the day came when the late rent never came and i had to evict them. Living in a Jaguar wasn't as comfortable as a 2 bedroom apartment for a husband, wife and 4 kids... --47.156.xx.xx |
Auto defaults increase (by Pmh [TX]) Posted on: Apr 20, 2019 3:52 PM
Message:
sort of kinda David in your response to Sid. but democrats are wanting to forgive student debt and so yes, that is me joe taxpayer picking up the tab. --166.137.xxx.xx |
Auto defaults increase (by Don [PA]) Posted on: Apr 20, 2019 4:42 PM
Message:
For single guys, I could see them paying the car first. They can always crash with a friend or relative. The saying is that I can live in my car but I can't drive my house.
--69.248.xx.xx |
Auto defaults increase (by GKARL [PA]) Posted on: Apr 20, 2019 4:42 PM
Message:
I think the rooming house business will be busy. If these stats are accurate, I should remain pretty full. I think this also applies to smaller and cheaper apartments like studios. I agree on lates however; gotta be prepared to pull the trigger immediately as it's unlikely folks will catch up.
Also, in urban areas, this means that one should also purchase property on a bus line. If they don't have or can't afford a car, access to public transportation will be critical. Many people are just doing without a car in my area and using Uber as needed or public transit. --209.122.xx.xxx |
Auto defaults increase (by small potatoes [NY]) Posted on: Apr 20, 2019 11:08 PM
Message:
yea where I am it is hilly and the municipality terminated the bus system, so people value their car more than their abode. Still there are many without cars and they have to walk the hill and they have to walk in the street because all the sidewalks are in poor condition and they have to walk in the street. --24.194.xx.xx |
Auto defaults increase (by JB [OH]) Posted on: Apr 22, 2019 7:22 AM
Message:
The default rate is on the high risk loans. The good credit group has a very low default rate. The last several years the loan companies have expanded their approvals of lower and lower scores. It is coming full circle. When you digest the numbers, the good customers are doing fine. --24.123.x.xxx |
Auto defaults increase (by DNB [PA]) Posted on: Apr 22, 2019 8:20 AM
Message:
"Default is on high risk loans "
If this is true it shows we must trust, but verify.
Just like a potential renters application - we must read between the lines and see through the smoke and mirrors.
Don't believe everything you read ! --98.216.xx.x |
Auto defaults increase (by Pmh [TX]) Posted on: Apr 22, 2019 3:14 PM
Message:
it’s all going to be ok....next selling point for warren besides free university for everyone will be free rent for everyone...govt will pay and so we can all jack up the rents.......lol --70.119.xxx.xxx |
Reply:
|
|