Wife got me to buy a house and the banks are making a 300,000 dollar profit on their loan when the house cost 200,000

wife got me to buy a house and the banks are making a 300,000 dollar profit on their loan when the house cost 200,000.

Anything I can do? I feel like I got jewed big time.

>being cucked by a woman
>being cucked by a jew

you should buy a bank instead

>buying property in a first world western country in A N N O D O M I N I H O D I E
Always astounds me how people so good at making money can be so good at losing it

That's a very High Interest.

>2017
>Getting Married
>Taking Out A Loan
>Buying A House
>Using A Bank

You goofed.

for jews

Pre-Pay if you can. Get PMI knocked off ASAP. Maybe sell for a profit when you can.

Look at the bright side OP your wife will pay nothing when she is fucking Tyrone after divorcing you and kicking you out with the payments.

So she'll always be happy, which is nice.

how the actual fuck did you finance so poorly.

kek

>buy 150
>sell 200
>repeat 3x

If someone loans you a dime, you should always be able to return the time and keep a dime for yourself.

Pay down the principle early. Not off, just down, it'll cut into the interest. Are there any areas you can upgrade?

A 200k house depending on market can have a lot of areas to add value.

Remodel the kitchen, if it has 2 baths remodel one to have a stand up tile shower. Put on a metal roof, update the landscape and try to sell it at 250.

>banks make a profit
Wow what a fucking tragedy

It's almost like they exist to scam you

this

Also, wtf 7.43025% interest?

Refinance and save $131k

It was the only house with a pool it's not exactly 200k house its like 250k it was worth a lot more before the real estate crash though. The only upside is the value of the house is going up every year.

>pools are impossible to build

You really lack imagination OP. What's your wife's Kik, I'd like to be the freeloading bf in her life.

>a house was valued higher in a time wheb house prices were massively inflated

Gee you don't say?

No shit, what did you think was going to happen? Is your rate fixed or variable?

Wife was afraid all our kids would drown in the pool, so no pool for me.

I figured after the first the others would be more cautious.

You are such a cuck. This is what's wrong with men today.

You let your women walk all over you then you're Suprised when you get JEW'd.

Enjoy your partial custody, child support, alimony and bankrupt credit in 5 years when she divorces your goy ass.

Your ancestors would be deeply disappointed. Imagine if you were the man in your life by marrying a submissive pure woman.

>Value goes up every year
>worth more than paid for

Sounds like you're dumb and lucked into a decent investment.

Make some minor renovations, pay down your principle.

Welcome to adulthood

Apartment rental prices are much worse.

You should've put 20% down with a 15 year and rent out a room.

This^2.

live in the woods and build your own place.

I had no idea Malta had grizzlies.

lthere are some, not much though... they live in caves near the cliffs.

Maybe you should have taken a minute to think about what you were doing op.

Pay 200 and sell for 250?
New kitchen, new bathroom, new roof, and landscaping is going to run you 35-100k depending on how much you cheap out.
Where is the profit?

Pay the loan off quicker? The quicker you pay the less interest the bank gets. Did you just buy it or have you had the mortgage for a while? You could do a rate/term refi and have a lower total financing charge, for example.

Fuck the middle class so much. These are the same people who demand Medicare payments when they get old, or subsidized health coverage, or Medicare. Regardless of the bubble that formed up till 2008, people should not be in a position to purchase houses costing nearly half a million dollars and still be supported by the state through entitlements.

>Remodel the kitchen, if it has 2 baths remodel one to have a stand up tile shower. Put on a metal roof, update the landscape and try to sell it at 250.
All those things you listed go way over 50k worth of costs to the home owner unless he can do the work himself (.001% chance he'll be able to do the roof himself).

>metal roof
Watch out we gotta faggot interior designer who thinks he's an architect over here.

>BUYING A HOUSE DURING PEAK REAL ESTATE AND NOT WAITING FOR THE CRASH

absolute moron, don't know how you are even married but you should have rented and waited 2 or three years then scoop up a nice house when it comes down.

>Anything I can do?
.. nope, but you could've voted Bernie.
>oh, right.. b-but at least I'm not a filthy commie
I know.

Pay back the house early you dumb shit. Do you not know how amortization works? Why would you get a loan when you don't understand time value of money?

Tyrone dick will be looking might thick and throbbing when their marriage is shaky.

>AND NOT WAITING FOR THE CRASH
That's not really fair, user. It's not like everybody can rearrange their finances to only purchase assets when they're depressed below their actual worth. Hindsight is always 20:20.

Bro

YOU GOT FUCKED IN THE ASS

So Bernie supporters are morons who make awful financial decisions and then whine about it when they don't want to deal with the consequences? Good to know.

This best answer if you don't want the (((banks))) taking all your money through finance charges, unfortunately most people don't have $40,000 cash for a down payment, $1,500 (That's just P&I, doesn't include insurance and taxes) per month for the payments nor would they like to live with a house-mate.

>you could've voted Bernie
doesn't mean
>OP voted Bernie
it means he could have voted Bernie.

Effects of subprime mortgage crisis are still strong, still a great time to buy but you have to pick location well. An acre of land and what would otherwise be a 500k house if located in the suburbs will only cost you 150k in expansion areas. I don't live in Orlando but it's a good example there are areas that are being heavily developed right outside and property there is dirt cheap and will go up in price due to development. If you go slightly outside of suburbia you end up with insane housing prices. I've done work for clients that paid 180k for a 6br/4bath ~3ksqft with pool and huge amounts of land and they are at best 15 minutes outside of normal working areas.

Also renovations and improvements will fucking not not not pay off unless you can do the work yourself. This is just a simple fact.

>180k for a 6br/4bath ~3ksqft with pool and huge amounts of land and they are at best 15 minutes outside of normal working areas
where?

>Also renovations and improvements will fucking not not not pay off unless you can do the work yourself. This is just a simple fact.

This.

Rebuilt my deck in 2015 with the help of a neighbor and his contractor friend who did the work under the table for $3500. Took a quote from a professional construction company and they wanted more than $10,000. This wasn't shoddy work either, all the proper permits and inspections by the city were completed and the deck passed with flying carpets.

Had an appraisal done last year when I refinanced and the appraiser estimated the deck only added about $5000 worth of value to the house. Had I used the "professional" company to build it instead of doing it myself I would have taken a 5 grand bath.

if you have enough saved to completely buy a house, is it wise to still only pay 20% down and invest the remaining 80%, since your investment return will probably always be greater than your mortgage interest rate? do people do this or am I retarded for thinking this might be a good idea? I've lived in little shitbox rentals my whole life and I'm about to buy a house for the first time, I'm not sure how it all works

>if you have enough saved to completely buy a house, is it wise to still only pay 20% down and invest the remaining 80%, since your investment return will probably always be greater than your mortgage interest rate?

Yes, and you just answered your own question. Even wealthy people do this for the reasons you listed and that's not even including things like inflation and how paying a mortgage on time will help your credit score.

neat, thanks smart-sounding user

Again, the fact that you recommended it to him while he's in this financial situation is drawing a connection between the sort of people who are too stupid to properly manage their finances and those who should vote for Bernie. I'm glad we don't have Bernie as a president so the finances of the country won't be dedicated to helping those who fucked themselves by being financially illiterate.

>wife got me to buy a house

Shoulda stopped before you even started bruh!

Burn it down.
With wife in it.

West side of plant city. Place was awesome too, all white young family neighborhood. I did a lot of work there and it was like a few acres and just green grass, kids toys everywhere, clients would have their neighbors let me in while they were at work before they even knew me personally. It's common though for anywhere just outside major cities, if you know how the areas have developed it's easy to predict how real estate will go.

Side jobs are cheap because they are very profitable for an individual but the usual contractor will at the absolute least follow something like the 3s rule where 1/3 material, 1/3 labor, 1/3 profit. I know you're agreeing with me but profit margins for companies are surprisingly low even with that 10k+ bid. Just to be able to make a quote the company paid anywhere from 50-400 dollars. With a deck it's likely a full commission sales guy though and even possibly an independent contractor (common in roofing) but even then those guys need higher draws to offset their blanks. It's not the companies trying to fuck you but rather it's what's needed to make a profit. There's a big difference in terms of profit between a side job and company and side jobs even between friends tend to be low quality which is why I usually refuse them.

First I would worry about my credit score. You can't afford a wife.

even if you lose interest, it's still better than paying the
>rental jew

Sell your wife, pay off house, live peacefully for the rest of your days.

Renting isn't as bad as it's made out to be. Maintenance costs and taxes can hit you hard. I've met a lot of people who bought the wrong property at the wrong time and have complained about how they wish they rented again and even having switched careers throughout my life real estate has always been tied in some how and I can't tell you how many land lords bleed money. Location and demographics are king regardless of buying or renting though.

why the fuck did you think this was a good idea