Vic Wasteland Thread

[joeyjoejoejuniorshabadoo]

to buy a house duh...

it's not an ideal situation, but for some it's the only way... it also means you need to pay for LMI which also sucks

[TiTAN]

surely if you have to borrow 95% you are looking in the wrong area or need to scale back your expectations.

[UNR33L]

[alr33x]

surely if you have to borrow 95% you are looking in the wrong area or need to scale back your expectations.

95% isn't as rare as you'd think a lot of people can service the mortgage comfortably but for whatever reason can't get the deposit together

20% deposits are rare particularly for first home buyers it's the best part of $100k in most instances so it's serious coin to have laying around

Also investors can and do borrow 95% regularly

[TiTAN]

it's the best part of $100k in most instances so it's serious coin to have laying around

are you telling me most people dont have that kind of money laying around?

i have been doing it all wrong

[Miguelone]

[Down_Shift]

why would you borrow 95% of the value of your property?

Because yolo

[Odium]

yobo

You only bankrupt once

[alr33x]

That's not true plenty of people bankrupt more than once lol

[TiTAN]

http://memerial.net/6942-i-cant-hear-you-over-my-freedom

[Leroy Peterson]

ahh yobbo...

was at a comedy night a few years ago he MC'd. nice guy

[Sunkist]

That's not true plenty of people bankrupt more than once lol

Lol some of them go bankrupt for life when they refuse to do a SOA with their trustee..

[Down_Shift]

Is it me or is this year going by way too fast?
Just realised we're almost half way through August... on a side note, DECA is less than 3weeks away!

[Mohsen]

Ahhhh deca. When I drove my car like a proper northern suburbian. Like I stole it lmao

[emts]

When did you do Deca mo?

which car?

[Odium]

All I remember was the clouds of smoke...

https://docs.google.com/file/d/0B5CzEwCc9-DrTzc2VjNxRUdEUHc/edit?usp=sharing

[emts]

ah yes, just looked at the vids...it was like a hippy fest...smoke smoke and more smoke

[joeyjoejoejuniorshabadoo]

surely if you have to borrow 95% you are looking in the wrong area or need to scale back your expectations.

well there is this, however we are talking a refinance, and in that case you may have initially borrowed with a good LVR however the property has lost value. eg, some douchelord government has built a freeway next to your house, the neighbours have all decided to live like cops and bring the whole street down, you live in rural QLD or even worse, you bought in a minimg area and mining ceased etc etc

there's ya 100+ LVR right there.

I have a guy on 240 in my portfolio

[CrispyFries]

Borrowed at 95%, paid off for 4 years, just refinanced up to 80%

[joeyjoejoejuniorshabadoo]

what did you borrow? like $10