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Corona Credit Bubble

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Established Contributor

Corona Credit Bubble

Well has anyone felt the credit crunch yet? I'm sure it's about to start hitting with CLD loan call backs and loans being denied. 

I was just scrolling through NFCU products and rates. And noticed that their not accepting HELOC or any type of loans against your home. Plus they posted a notice in regards to mortgages being delayed. 

i believe this could be the start of the housing melt down on top of the economy in a deep recession. God I hope I'm wrong. What does everyone else think?

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Super Contributor

Re: Corona Credit Bubble

Corporate debt (bad companies with too much leverage) and automotive debt (people spending too much on cars, relative to income) look very bad. I'm not sure how bad mortgage debt is, by comparison.

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Valued Contributor

Re: Corona Credit Bubble

I think we'll start to see housing prices come down significantly in about a month.

 

I'm waiting for the sale and buying my vacation condo in FL.

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Message 3 of 12
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Established Contributor

Re: Corona Credit Bubble

Congratulation's on the sale and purchase of your vacation home in Flarida lol that's how the New Yorkers say it. Welcome to Florida the New York State not the sunshine state lol. 

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Message 4 of 12
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Valued Contributor

Re: Corona Credit Bubble


@SFLSpotter9210 wrote:

Congratulation's on the sale and purchase of your vacation home in Flarida lol that's how the New Yorkers say it. Welcome to Florida the New York State not the sunshine state lol. 


I'm a Floridian turned New Yorker and most definitely do not say it that way! Hahahaha.

 

I'm a Gulf Coaster . . . we have all of the Midwestern transplants Smiley Wink

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Message 5 of 12
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Established Contributor

Re: Corona Credit Bubble

Oh no Floridian turned new yorkin 😳. I'm on the east coast so we see all northeastern transplants. I love the west coast though. 

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Home Depot 1,000
Discover 13,000
BB&T Rewards 4,500 BB&T Bright Card 4,500 GS Apple 5,500 Chevron 1650 Fico 8 Scores EQ=760EX=768TU=750 scores and CL current as of 05/16/20 AAoA=2years6minths AoOA=17yrs
Message 6 of 12
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Valued Contributor

Re: Corona Credit Bubble


@SFLSpotter9210 wrote:

Oh no Floridian turned new yorkin 😳. I'm on the east coast so we see all northeastern transplants. I love the west coast though. 


All stems from the days of the family road trip. I-95 brought all of the Northeasterners to your neck of the woods for vacations and possible moves, and I-75 took the Midwesterners to the Gulf Coast.

Ch 7 Discharge May 2015
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5% down Conventional Mortgage @ 3.25%
Message 7 of 12
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Senior Contributor

Re: Corona Credit Bubble


@SteelerNYC wrote:
 I-95 brought all of the Northeasterners to your neck of the woods for vacations and possible moves, and I-75 took the Midwesterners to the Gulf Coast.

My Dad would have the whole family bicycle to the I-95 construction site about 6 miles from our house just to check on the build progress and let us see how road construction was done.  He was so excited cuz driving 2 lane Hwy 17 sucked...and still sux!

" Speed Limit 55, Arrive Alive"   "Double Nickels" .....remember those?

We still like to drive down to the Fla Keys via 95 and then coming back shoot across Alligator Alley to Naples and skirt the Gulf Coast via 75 then hit I-10 back to 95.  We've made great friends from all over the US that way. Plus doing the "Loop" covers all the fun stuff in Florida.  




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Message 8 of 12
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Established Contributor

Re: Corona Credit Bubble

I like midwestern people. The beef people lol. 

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Lowe’s 30,000
Barclay Apple1k
Citi Rewards+ 9,100
Citi Double Cash 13,300
Citi Simplicity 4,100
PNC Core VISA 12,500
Home Depot 1,000
Discover 13,000
BB&T Rewards 4,500 BB&T Bright Card 4,500 GS Apple 5,500 Chevron 1650 Fico 8 Scores EQ=760EX=768TU=750 scores and CL current as of 05/16/20 AAoA=2years6minths AoOA=17yrs
Message 9 of 12
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Valued Contributor

Re: Corona Credit Bubble

 


@GApeachy wrote:

@SteelerNYC wrote:
 I-95 brought all of the Northeasterners to your neck of the woods for vacations and possible moves, and I-75 took the Midwesterners to the Gulf Coast.

My Dad would have the whole family bicycle to the I-95 construction site about 6 miles from our house just to check on the build progress and let us see how road construction was done.  He was so excited cuz driving 2 lane Hwy 17 sucked...and still sux!

" Speed Limit 55, Arrive Alive"   "Double Nickels" .....remember those?

We still like to drive down to the Fla Keys via 95 and then coming back shoot across Alligator Alley to Naples and skirt the Gulf Coast via 75 then hit I-10 back to 95.  We've made great friends from all over the US that way. Plus doing the "Loop" covers all the fun stuff in Florida.  


My family is from PA originally (I am still traumatized by 55mph speed limits . . signs of STILL 55 when you entered the state even well into the 2000s)  and it was one of my sisters that moved to FL first. She landed on the East coast, and we were supposed to follow her there, but my parents did the loop and bought a house in Tampa Bay instead. Completely random . . . knew nobody there . . said it just felt right! haha

Ch 7 Discharge May 2015
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5% down Conventional Mortgage @ 3.25%
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