CRASH IS HERE: Harvey & Irma as Borrowers Start Defaulting on Mortgages, and Insurance Decline...
The Hurricanes will probably set up the Real Estate Market Crash sooner as thousands of borrowers begin to default on the loans for uninhabitable properties and insurance won't cover the claims.
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In the next few minutes I’m going to show you why I think in my opinion that the real estate crash --- or if that doesn’t happen the second thing that will happen is that people are going to start to fall through on their mortgages because what the banks are going to do are probably two things. They’re going to allow the people to not make their mortgages right now. And they’ll do two things put it to the back of the mortgage or put it to the back of the principal or wave a couple of months of payments and then the person has to pay, the borrower has to pay maybe six months down or a year down. And then that sum is going to be a large sum; imagine if your mortgage is 1500 bucks and you’re four months behind how much that’s going to be. But that’s not only it, the problem is going to be that the people, the borrowers are not going to be able to live in these properties because insurance is not going to cover it. I don’t know if you guys follow me on Facebook. Before they made the new changes, you had a certain amount of days to file an insurance, before they changed the rules. But insurance wasn’t going to cover it anyway because most people don’t have flood insurance and if they do have flood insurance it’s probably not going to cover because they have so many people. It’s not like five or ten or twenty properties affected, it’s miles and miles, and miles and miles; low end homes, commercial, all the way down to big homes. And what’s going to happen is when people file for their insurance, insurances is going to decline them which means that they’re still entitled, you know on the rope, on the debt on the mortgage; but they can’t even live in their home because there’s all kind of nasty water that’s contaminated and the walls the stutters and all of that stuff. So, what’s going to happen is people are not going to be able to live in the property home, and they’re still going to have to make the monthly mortgage.
So it creates an avenue for entrepreneurs, real estate entrepreneurs that are willing to go out there and buy subject to’s, and do fix and flips and do things of that nature. But not everyone is going to fit into that category a lot of people are going to default because they can’t make their mortgages, they can’t live in their homes. They just lost all of their personal property, their values. They probably lost their jobs and now they’re jobless. They don’t have any property or littler property or damaged property. What’s going to happen is that the lenders after all these waves of people start getting defaults, the lenders are going to and file with the FHA Freddie Mac and collect on the insurances on these government backed mortgages. And since it’s going to be so many people filing; Freddie Mac, Fannie Mae they don’t have that kind of money so as you can see things are going to just go like this(build up) because it’s multidimensional. People are defaulting on their house mortgages; hundreds and hundreds and thousands of people.
Level two is a lot of people have lost their jobs and they have to relocate to a different area, so that’s two. And once the bank start collecting on their insurance policies from FHA and VA loans and other convictional loans that start foreclosing it’s just going to make it a mad house. And all of those three together with stocks coming down and us being threatened to go to war and things like that. I think it can have a domino effect into the world economic collapse. Not just America but, the world. Because American dollar is pegged as the petrodollar which is like all other coins are based to. But the problem is like the Russians and the Chinese, the Iranian and then Brazil they’ve created their own system to transact instead of the dollar system; which makes the dollar a lot weaker and more vulnerable and this means that all of the other countries that are backed by the US dollar. So, I think that with so many people that are going to start defaulting, they’re going to do it in a slow way because they’re probably are going to try to control all of the foreclosures, all of the defaults so that it’s not rapidly. So it’s probably going to go like this, like this (filtering, funnel movement with hands) just kind of like how you do with dam water. But I think there’s only so much skin that the leverage can take before the bust. Stocks are at an all time high, interests is at an all time low. The petro dollar is losing its power because these other countries are going against using the US dollar, china is buying a lot of gold. I think that in 2021 China is going to be the power house instead of America. As American keeps bombing all these other countries China is over here buying in America, they’re buying in Brazil, they’re buying airports they’re buying all this stuff and they’re producing all of this stuff. And so I think they’re going to be the powerhouse in economics. And they’ve already created some kind of hack for them to interact I think the name is called Bricks or something but I am not 100% sure. I don’t try to remember every key word I just try to remember the main idea. So, what am I saying to you? That this is an opportunity for real estate investors; like Houston, Florida, depends what happens there. It’s a great opportunity to make money because a lot of people are going to start defaulting unfortunately. And I believe that, I love Mother Nature, but Mother Nature is very powerful and we have to respect it. And all of the stuff we do to it, like we abused the forests, we abuse the land fields, we’re always buying the newest phones, the newest gadgets; we’ll have 50 to a hundred shoes which is all raping Mother Earth and when she gets upset this is what happens. I think mother earth is alive and that’s why we are alive. If she was dead, then we would be dead. And when she gets sick, this is how she reacts. As entrepreneurs this is a great time, as people a lot of you have lost your home and I’m very sad. I’m just pointing out that because of this people are defaulting massively, a massive amount of people are losing their jobs, they’re going to a different area that’s going to push up the market, like Dallas’ market is going to go up, Austin’s market is going to go up. People are going to move to other places, it’s going to create a lot of jobs too like I talked about in my last video there’s going to have been like four businesses that are going to create a lot of money. If you’re in the debris business and you’re willing to go to Houston and help move all of the debris, if you’re in the construction business, a roofer, electrician, carpenter, there’s going to be good business.
If you are real estate investor and very creative or at the auction that doesn’t matter. It’s going to be coming. If you’re in the moving business, if you have any of these things you are going to profit a lot and so many of the other stuff that I don’t know like relocation businesses and so many different things. But I think that the crash is coming, and this is, in my opinion, the breaking point of the economy Collapse because so many people are going to start defaulting; even though they are going to try to manage it.
I just think that the economy is so weak.
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