It seems that every time we have a crisis, there’s a tech company ready to move in and take advantage of it.
Another housing tech company is jumping into the Boston condo sale-leaseback business, offering cash to struggling downtown Boston real estate homeowner’s by tapping into their equity by buying their downtown Boston condo and renting it back to them.
The growing trend comes when many Americans face job insecurity during the pandemic, while home equity levels reach all-time highs. But homeowners should tread carefully and explore all options first if they’re hurting financially, experts said.
More than 2.8 million mortgages were in forbearance at the end of November, according to recent numbers from the Mortgage Bankers Association, a trade organization, accounting for 5.54% of the total mortgage population.
Boston Real Estate and the Bottom Line
Have someone look over that contract very, very carefully, and don’t sign on the dotted line until you understand 101% what you are getting yourself into.
Let me tell you a short story:
The Dancing Monkeys
A prince had some Monkeys trained to dance. Being naturally great mimics of men’s actions, they showed themselves the most apt pupils. When arrayed in their rich clothes and masks, they danced as well as any of the courtiers. The spectacle was often repeated with great applause, till on one occasion a courtier, bent on mischief, took from his pocket a handful of nuts, and threw them upon the stage.
The monkeys, at the sight of the nuts, forgot their dancing and became as indeed they were monkeys instead of actors. Pulling off their masks and tearing their robes, they fought with one another for the nuts. The dancing spectacle thus came to an end, amidst the horror and ridicule of the audience.
The point I’m trying to make:
‘Not everything you see or read is what it appears to be”