$3,995,000 - Wow...

[Biggd]

Originally Posted by joey2665

OK that’s fine it’s not New Hampshire it’s all over the country but you show me where you found the statistics that say most people are cashing out the equity in their primary residence to buy vacation homes for cash. I just don’t think it’s true. honestly I think it’s nonsense.

And we could all speculate on whether they’ll be a recession or a large correction and the prices of real estate will plummet none of us knows for sure and as we seen recently the government and businesses alike including banks will do everything they can to try to avoid going into an extended term recession.


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I'm sorry I can't give you statistical proof. I get my information from my best friends son who is one of the top 50 residential mortgage brokers in the country, he works through Leader Bank in Needham Ma. He tells me where the money is going and I believe him.

[joey2665]

Originally Posted by Biggd

I'm sorry I can't give you statistical proof. I get my information from my best friends son who is one of the top 50 mortgage brokers in the country, he works through Leader Bank in Needham Ma. He made almost 3 million dollars writing mortgages in 2020. He tells me where the money is going and I believe him.

Your source is one person really? I put no faith in that whatsoever. When you come back with some real statistics then we can continue the conversation


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[Biggd]

Originally Posted by joey2665

Your source is one person really? I put no faith in that whatsoever. When you come back with some real statistics then we can continue the conversation


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We don't need to continue this conversation. We really don't see eye to eye on many things.
You're free to believe what and who you want as am I.

[joey2665]

Originally Posted by Biggd

We don't need to continue this conversation. We really don't see eye to eye on many things.
You're free to believe what and who you want as am I.

Yes you are free to believe what you want but I do find it hypocritical when somebody post something you don’t believe you always ask for back up statistics and then the one time I ask for back up statistics and you can’t produce them. Have a great day


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[Biggd]

Originally Posted by joey2665

Yes you are free to believe what you want but I do find it hypocritical when somebody post something you don’t believe you always ask for back up statistics and then the one time I ask for back up statistics and you can’t produce them. Have a great day


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I don't ask for statistics because I don't have faith in where they come from. I'm old school and believe in people I've had business relationships with through the years.
I think we're done here.

[Descant]

Originally Posted by Biggd

I'm sorry I can't give you statistical proof. I get my information from my best friends son who is one of the top 50 residential mortgage brokers in the country, he works through Leader Bank in Needham Ma. He made almost 3 million dollars writing mortgages in 2020. He tells me where the money is going and I believe him.

If I were paying cash for something, my broker might know, but I would have no reason to be in contact with a mortgage banker. If I'm using a HELOC for any purpose, I don't have to specify intended use when I open up the line of credit. When I bought a property this spring, I was (almost) able to do a wire transfer from Fidelity to the title company's escrow account. (The transaction was over the online limit, so I had to confirm with "the next representative" who happened to be in Dallas. 2 minutes. No mortgage officer would have any way of knowing about this transaction. He could get anecdotal, second hand information from a title company.
Leader Bank, only founded in 2002, lists three MA locations on their website and no reference to being licensed in other locales. That makes your young friend immeasurably impressive to be one of the top 50 in the country.

[Biggd]

Originally Posted by Descant

If I were paying cash for something, my broker might know, but I would have no reason to be in contact with a mortgage banker. If I'm using a HELOC for any purpose, I don't have to specify intended use when I open up the line of credit. When I bought a property this spring, I was (almost) able to do a wire transfer from Fidelity to the title company's escrow account. (The transaction was over the online limit, so I had to confirm with "the next representative" who happened to be in Dallas. 2 minutes. No mortgage officer would have any way of knowing about this transaction. He could get anecdotal, second hand information from a title company.
Leader Bank, only founded in 2002, lists three MA locations on their website and no reference to being licensed in other locales. That makes your young friend immeasurably impressive to be one of the top 50 in the country.

Look him up, Keith Hapenney. His resume is impressive.