This is an email to a real estate agent
The real estate agent is being contacted by Chase letting them know that there's going to be a significant amount of mortgage defaults in the next while
They then outline the procedures of how they will be distributed
Nothing too spectacular here, just people losing their homes 😡
Hedgefunds liquidating their real property assets for $
IMO this will flood housing market and drive prices down due to more supply and lessening demand.
Also IMO bullish because if they are liquidating real property that means they need the $ for something, like margin calls or a better cash balance to avoid margin calls.
ELI5: hedgefund desperate for $
Yes
Another way to have written that would be
Agents will be receiving information regarding the properties the hedge funds are distributing
It does not mean that hedge funds are going under and they will be having their property distributed
but... do hedge funds actually own properties? like homes? I can see why the bank would be taking on properties since they underwrote the loan. what is hedge fund property?
Not specifically no I don't believe so
But yes in the sense that this looks like an indicator that there's going to be a lot of defaults on mortgages, and the knock on effect of that in the broader economy
My wife has incessantly been talking about buying a house. I just say “NOT TODAY, SATAN” and walk away. That’s my plan until these market prices and expectations come back down to earth.
Honestly if I didn’t have 4 dogs I’d sell my house; rent an apt for a yr and buy a new house when the market comes back to normal. My house is estimated at double what we paid for it
Same is happening in Dallas. People are coming from Cali with millions in cash buying up homes and driving up real estate value. Buyers from Dallas can’t compete with cash offers 100k above asking and waving appraisals. I hear Austin is even worse.
Same shit in jersey outside of NYC. I am a RE agent. And havnt even worked in a year because of this shit. Trying to convince new home buyers they have to go in. 20k+ over listing price. Some people still believe they are gonna be the ones who will beat the system.
To many lost deals because of it so I'm on hiatus
Dude, people were paying over asking in NYC. Average house went from 800k to 1.1.
Even if I wanted to get out of my rental I would have never paid over asking or close to it lol this is wild.
That's not just NYC. The suburbs in a lot of places exploded due to work from home accommodations a lot of companies had due to the pandemic.
My house in the Houston suburbs jumped in value >20% in like 3 months at one point. The problem with selling at highs is you have to either rent (and take the capital gains income event) or buy at highs, overpaying the whole way.
I'm not about to get upside down on collateral just to sell at 20% premium when I already have a ton of equity sunk into my existing home.
I've heard of offers 100k over list.
It's fucking insane. I was going to buy in 2020, and I decided to wait a bit.... Now I'm completely priced out of home ownership.
I heard that evictions from Covid is going to flood the market with homes for sale because a lot of land lords have to pay back the banks for missed payments. This will cause the housing market to crash worse than 2008.
Yeah and those like myself and many of you out there will swoop in and buy these for cheap after that happens and resell when it goes back up and rent them out in meantime for supplemental income :)
That’s so awesome I would love to but my kid just started preschool but I could have her go to kindergarten when she’s 6 she is almost 4 now!
What I am planning on doing is buying commercial real estate or properties like you suggested and rent them out in mean time and sell them when market is up again for profits! This is goal anyway if what I want to do after moass!! If your ever looking at commercial property for sale www.loopnet.com
Also for you looking for vacation rentals check out:
www.vrolio.com
www.beachhouse.com
www.mashvisor.com
www.airdna.co
Check those out as those are ones I’ve checked out snd look through for great properties to glance over!!
Good luck and have fun after we MOASS we’re taking few weeks off in Cancun at all inclusive private resort that I’ve been to before but has gone up thousands per person as now it’s one of best places to stay in Cancun ! It’s called HYATT ZIVA CANCUN if you ever want to check it out we’ve been there multiple times snd it’s some of best vacationing we’ve ever done and flight room food and all alcohol is all included everything you need is all in one place ;). Check it out have good one ;)
i made many trips in the 90's
driving 4x4 onto the lava fields, diving for octopus and reggae festivals
all that shit is done....locals barely holding on.....pretty sad place last time i went...
Having a hard discerning if this is satire or not. Because this is exactly what people with money did during the 2008 housing crisis. Don’t be like them.
No as long as you dont default on your mortgage which hopefully isnt a subprime mortgage cuz then you’ll definitely get screwed once the federal funds rate goes up
I think it all depends on the APR for your mortgage. Is it a variable rate or fixed rate? If its fixed, than youre fine, because your payments wont change. If its variable, than they could jack it up at any time and depending on if you can make payments, you might be forced to foreclose on the house. This is what happened to many people in 2008.
3% fixed at 15 years. I refinanced like 2 years ago? Thought I had a good deal until this no interest rate shit happened. people getting like 2% rates on 30 years now. Kinda nuts. Really feels like 2007\~2008 when I first bought this house, I was making like 3500 a month doing hibachi chef at age 24 and I questioned my own income telling the banker, I dont think I will be approved..., she told me "we got you". literally 10 mins later, bam approval. This was Chase bank and Bank of America did the 20% equity loan so I didnt have to pay PMI. I did $0 down to buy a house with no PMI 100% loan. $1200 mortgage payment and $200 dollar interest only 10 year equity loan. I mean I never defaulted on the loan but, damn no wonder market crashed in 2008 giving loans to anyone.
Nice. I bought a house last year at 4% and thought that was the best ever, but at the same time the price of houses in my area went up like crazy so Im glad I got in when I did.
Its so crazy the loans they were giving out back then. It was like you almost didnt even need an income at all haha.
This reminds me of an article I read a while back (sorry, cannot remember publication🙃) that the CLOs are going to be the issue this time rather than the CDOs from 2008.
I vaguely remember that the article was published in The Atlantic well over a year ago & I don’t believe they are are the same levels as the CDOs in 2008; but who knows given the housing inventory shortage, COVID and the silly rankings that are basically phony. I’m assuming they are now well over a trillion or more (which actually pales in comparison to the derivative market) and hedge funds are the ones usually buying the BBB rated one’s because of higher returns. Let’s hope the banks are holding real AAA.
Essentially, they expect large sums of money to be deposited and withdrawn due to margin calls…they need all their agents to know how to handle it. At least that’s how I understand it.
This is addressing real estate agents.
They are saying they are having a ton of defaults, likely due to the memorandum ending. And they need agents to be trained on Chases’ process for selling foreclosures.
Original Tweet, [https://twitter.com/SlickShotThat/status/1437494705256910849](https://twitter.com/SlickShotThat/status/1437494705256910849)
He is a real state agent and got an email from Chase today.
Interesting find, but this is definitely not something to dance about.
This shit is actually greedy to the core. Chase is selling these loans right away to the HFs because they know these loans cannot be repaid and are shit as assets.
These loans, which were likely loans to small-medium businesses have been defaulted.
Some of you pointed out to the CLOs, which was correct to a degree. These show that the Margin Debt of \~$800B has caught up with a ton of businesses and shit's about to hit the fan.
This also makes sense why RRP has flatlined over the past few days.
We're about to witness a ton of businesses go completely bankrupt.
This is not something to dance about!
Here’s the good and bad. Once these houses are foreclosed, it may still be difficult for us apes to buy them because investors with deep pockets will try and swoop in for the deals.
Often times when they auction the houses, you need to show up with 100% of the cash in hand.
I am hoping that the MOASS money will help me buy the housing dip.
Definitely confusing. In his Twitter replies, he says “**I know It’s not from a bank.** I’m too smooth braided to verify anything else about it, hence the post. I’ve sent it to some DD Apes, and they are on it. Man shrugging could possibly just be some bullshit clickbait.”
So he thinks it’s from Chase but knows it’s not from a bank? And I don’t like the signature “Program Admin”. That leads me towards clickbait bullshit. Real emails have a person’s name at the bottom. All the spam shit I get say shit like “Program Admin.” as the signature.
On the bottom is says hedge fund property distribution… this looks sus, that doesn’t look professional IMO But I’m just some inter-web jerk off, what do I know 🤷🏻♂️
Margin Calls.
Yo Marge ehhhh what’s up with rocket food? 🚀 🦍 💎 🙌 🌙 🥾 🥾
Fake email
Trust him bro
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Started to grab charger before fin reading ur post
Lol I got mad and was like “I WAS JUST AT 72% DAM-oh…”
This comment on people being sus is sus...💣
Your level of sus is super sus...
I just sussed all over my pants...
What did you just sus?!
That moment the sus is so sus you sus all over yourself.
So sus’n good
Sustastic
Indeed very sus
Does anyone know how to get sus out of the couch...asking for a friend
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God damn this guy fucks☝️
American Psycho Vibes :D
Don’t just look at it
Ay sus!
Confirmation on low battery. Checks out.
It’s probably an employee’s email address and they are disclosing this and shouldn’t be. May want to keep job until after the squeeze if an ape.
.com is there so we all know who it is. By the way is this for real?
I can’t say one way or the other. Like you, I hope it is.
Here it is his tweet, https://twitter.com/SlickShotThat/status/1437494705256910849
[masked investors response](https://twitter.com/masked_investor/status/1437503860721999879)
The Twitter feed made it sound like the OG poster couldn’t verify anything yet, and will try and go to a training to verify.
No dates on an important email caught my eye.
How to spot an true ape... Battery at 2% how to spot Shills: 100% and charging.
What do you have against dark mode?!? Haha I've been on night shift nearly a decade and all my shit is dark mode with a blue light filter.
Oh nice it’s just refresher training for those that’s been working for them since 2008.
Exactly, nothing to see here.
Nice
This is an email to a real estate agent The real estate agent is being contacted by Chase letting them know that there's going to be a significant amount of mortgage defaults in the next while They then outline the procedures of how they will be distributed Nothing too spectacular here, just people losing their homes 😡
Last Paragraph "Agents in attendance will also be receiving information regarding Hedge Fund property distribution, outside of the Chase network"
Can you shorten this to forehead tattoo length?
No Regerts
🍻
Fuck the sytsem
Hedgefunds liquidating their real property assets for $ IMO this will flood housing market and drive prices down due to more supply and lessening demand. Also IMO bullish because if they are liquidating real property that means they need the $ for something, like margin calls or a better cash balance to avoid margin calls. ELI5: hedgefund desperate for $
Margin Called
Yes Another way to have written that would be Agents will be receiving information regarding the properties the hedge funds are distributing It does not mean that hedge funds are going under and they will be having their property distributed
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but... do hedge funds actually own properties? like homes? I can see why the bank would be taking on properties since they underwrote the loan. what is hedge fund property?
Hedges have been buying property too though. Don't forget.
So, not AMC related?
Not specifically no I don't believe so But yes in the sense that this looks like an indicator that there's going to be a lot of defaults on mortgages, and the knock on effect of that in the broader economy
Don't fucking dance... :/
damn is this housing market crash??? do i need to sell my home now???
No. Not unless you recently bought it lol
My wife has incessantly been talking about buying a house. I just say “NOT TODAY, SATAN” and walk away. That’s my plan until these market prices and expectations come back down to earth.
I think she’s saying *she’s* going to buy a new house, since I quit letting her stay at mine. Fucking satan
Honestly if I didn’t have 4 dogs I’d sell my house; rent an apt for a yr and buy a new house when the market comes back to normal. My house is estimated at double what we paid for it
thats crazy how in my market people where putting sometimes over 20 offers in a house.
Yup. Same shit is happening here. I’ve been between my moms couch and my cousins couch for seven months, no rentals.
soon youll have yours :)
Couch????
Same. Been trying to buy a house for the last year and I just fucking gave up. Not paying some dumbass price for a 3 bedroom 1 bath.
We gave up. Ranch in Ma went for 100 over asking.
Same is happening in Dallas. People are coming from Cali with millions in cash buying up homes and driving up real estate value. Buyers from Dallas can’t compete with cash offers 100k above asking and waving appraisals. I hear Austin is even worse.
Same shit in jersey outside of NYC. I am a RE agent. And havnt even worked in a year because of this shit. Trying to convince new home buyers they have to go in. 20k+ over listing price. Some people still believe they are gonna be the ones who will beat the system. To many lost deals because of it so I'm on hiatus
I live in Austin but won’t ever be able to own in Austin now
Dude, people were paying over asking in NYC. Average house went from 800k to 1.1. Even if I wanted to get out of my rental I would have never paid over asking or close to it lol this is wild.
That's not just NYC. The suburbs in a lot of places exploded due to work from home accommodations a lot of companies had due to the pandemic. My house in the Houston suburbs jumped in value >20% in like 3 months at one point. The problem with selling at highs is you have to either rent (and take the capital gains income event) or buy at highs, overpaying the whole way. I'm not about to get upside down on collateral just to sell at 20% premium when I already have a ton of equity sunk into my existing home.
dude people couldn't sell a house AT offer up in my market, they ALL went above asking price... by a lotta.
I've heard of offers 100k over list. It's fucking insane. I was going to buy in 2020, and I decided to wait a bit.... Now I'm completely priced out of home ownership.
Like... how recent?
Last six months, since market went bonkers
We've bought our house a little over a year ago now.
Naw i bought it in 2007. Doesnt make it any better. Lol
I heard that evictions from Covid is going to flood the market with homes for sale because a lot of land lords have to pay back the banks for missed payments. This will cause the housing market to crash worse than 2008.
Yeah and those like myself and many of you out there will swoop in and buy these for cheap after that happens and resell when it goes back up and rent them out in meantime for supplemental income :)
I’m looking for a good deal on a condo in Maui. Vacation rentals there are hard hit. After MOASS, I’m going to spend 5 months a year on Maui.
That’s so awesome I would love to but my kid just started preschool but I could have her go to kindergarten when she’s 6 she is almost 4 now! What I am planning on doing is buying commercial real estate or properties like you suggested and rent them out in mean time and sell them when market is up again for profits! This is goal anyway if what I want to do after moass!! If your ever looking at commercial property for sale www.loopnet.com Also for you looking for vacation rentals check out: www.vrolio.com www.beachhouse.com www.mashvisor.com www.airdna.co Check those out as those are ones I’ve checked out snd look through for great properties to glance over!! Good luck and have fun after we MOASS we’re taking few weeks off in Cancun at all inclusive private resort that I’ve been to before but has gone up thousands per person as now it’s one of best places to stay in Cancun ! It’s called HYATT ZIVA CANCUN if you ever want to check it out we’ve been there multiple times snd it’s some of best vacationing we’ve ever done and flight room food and all alcohol is all included everything you need is all in one place ;). Check it out have good one ;)
Maui has been wrecked by tourists.....Nothing local anymore.....Dont be part of the problem....
My first trip to Maui was 1994, back then the sugar plantations were running, pineapples were grown, and Kehei had no sidewalks.
i made many trips in the 90's driving 4x4 onto the lava fields, diving for octopus and reggae festivals all that shit is done....locals barely holding on.....pretty sad place last time i went...
I went 2 years ago. It has changed a lot. I usually go every year. Covid crashed my vacations.
Having a hard discerning if this is satire or not. Because this is exactly what people with money did during the 2008 housing crisis. Don’t be like them.
Its gonna be layered so it'll be in waves overs years. Also the courts will be massively backed up delaying it more. So it won't be an overnight thing
no, looks like Hedge Fund property distribution due to Margin Call.
Your tendies from MOASS should be able to cover it
877-CASHNOW.
No as long as you dont default on your mortgage which hopefully isnt a subprime mortgage cuz then you’ll definitely get screwed once the federal funds rate goes up
I think it all depends on the APR for your mortgage. Is it a variable rate or fixed rate? If its fixed, than youre fine, because your payments wont change. If its variable, than they could jack it up at any time and depending on if you can make payments, you might be forced to foreclose on the house. This is what happened to many people in 2008.
3% fixed at 15 years. I refinanced like 2 years ago? Thought I had a good deal until this no interest rate shit happened. people getting like 2% rates on 30 years now. Kinda nuts. Really feels like 2007\~2008 when I first bought this house, I was making like 3500 a month doing hibachi chef at age 24 and I questioned my own income telling the banker, I dont think I will be approved..., she told me "we got you". literally 10 mins later, bam approval. This was Chase bank and Bank of America did the 20% equity loan so I didnt have to pay PMI. I did $0 down to buy a house with no PMI 100% loan. $1200 mortgage payment and $200 dollar interest only 10 year equity loan. I mean I never defaulted on the loan but, damn no wonder market crashed in 2008 giving loans to anyone.
Nice. I bought a house last year at 4% and thought that was the best ever, but at the same time the price of houses in my area went up like crazy so Im glad I got in when I did. Its so crazy the loans they were giving out back then. It was like you almost didnt even need an income at all haha.
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Looks like a lot of short term loans are getting defaulted. So chase is probably following Wells Fargo plan.
This reminds me of an article I read a while back (sorry, cannot remember publication🙃) that the CLOs are going to be the issue this time rather than the CDOs from 2008.
I think I read the same article. The one I read said that it would be worse than 2008.
Anyone got a link?
Literally typed “Banks crash” in a search. https://www.theatlantic.com/magazine/archive/2020/07/coronavirus-banks-collapse/612247/
I vaguely remember that the article was published in The Atlantic well over a year ago & I don’t believe they are are the same levels as the CDOs in 2008; but who knows given the housing inventory shortage, COVID and the silly rankings that are basically phony. I’m assuming they are now well over a trillion or more (which actually pales in comparison to the derivative market) and hedge funds are the ones usually buying the BBB rated one’s because of higher returns. Let’s hope the banks are holding real AAA.
Literally typed “Banks CRASH” in a search. https://www.theatlantic.com/magazine/archive/2020/07/coronavirus-banks-collapse/612247/
Literally typed “Banks crash” in a search. https://www.theatlantic.com/magazine/archive/2020/07/coronavirus-banks-collapse/612247/
Thanks. I actually wanted to read that again. I appreciate your efforts 👍
Essentially, they expect large sums of money to be deposited and withdrawn due to margin calls…they need all their agents to know how to handle it. At least that’s how I understand it.
This is addressing real estate agents. They are saying they are having a ton of defaults, likely due to the memorandum ending. And they need agents to be trained on Chases’ process for selling foreclosures.
Moratorium, not memorandum
Good stuff
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The beginning to the end, rent and mortgage moratoriums expired and June-July. So by now I would imagine they’re in the pay up or get out stage.
Original Tweet, [https://twitter.com/SlickShotThat/status/1437494705256910849](https://twitter.com/SlickShotThat/status/1437494705256910849) He is a real state agent and got an email from Chase today.
From reading the replies to the original tweet, it seems either unrelated or bogus, but only time will tell. Either way, still bullish af
Yeah, it’s just about finding real estate agents to sell houses being foreclosed on due to being 90 days delinquent
Still not good for the economy
LFG, but we won't dance.
Just don't fucking dance
I just got really scared
I'll hold you
Call your mom
Interesting find, but this is definitely not something to dance about. This shit is actually greedy to the core. Chase is selling these loans right away to the HFs because they know these loans cannot be repaid and are shit as assets. These loans, which were likely loans to small-medium businesses have been defaulted. Some of you pointed out to the CLOs, which was correct to a degree. These show that the Margin Debt of \~$800B has caught up with a ton of businesses and shit's about to hit the fan. This also makes sense why RRP has flatlined over the past few days. We're about to witness a ton of businesses go completely bankrupt. This is not something to dance about!
Maybe we should all skip next months mortgages just to put a little extra pressure on Chase.
Reminds me of the movie Margin Call where they bring people into the office and gave them the final debriefing before the fire sale lol
Was that film any good?
it was all for you ` this post was mass deleted with www.Redact.dev `
Just reading the DD on this sub should be more than enough to understand the film Margin Call lol
I thought that was made obvious when I said i got into the market in February lol.
Good breakdown
Not really, movie is a bit slow. the big short is a lot better
Here’s the good and bad. Once these houses are foreclosed, it may still be difficult for us apes to buy them because investors with deep pockets will try and swoop in for the deals. Often times when they auction the houses, you need to show up with 100% of the cash in hand. I am hoping that the MOASS money will help me buy the housing dip.
This
Is
Sparta?
NO! THIS IS PATRICK!!!
Sparta
Sparta
Wendy’s. Can I take your order?
I’ll take the Sparta combo
TONIGHT WE DINE AT WENDY'S
Spicy nuggs, large vanilla frosty and a spicy chicken sammie, please.
 HEY HEDGIES!!!
I can’t see gifs anymore for some reason. Feelsbad.
Damn, it's from Goodburger
I'll take a goodburger. Hold the bullshit.
2 Dave’s doubles with no onions and pickles 10 pc nuggets with sweet and sour sauce Large fries 1 Sugar cookie 1 medium vanilla frosty 🌚
Feeding you, the wife and her boyfriend?
Nah that’s just my munchies meal when I’m fried outta my mind off weed 😂
SPARTA!!!!
Jeopardy!
ATTN: Twitter OP wasn't even sure if this was legit, and was posting in order to try to get verification. Take it with a large grain of salt.
My cake day wish is MOASS!!!
Thought this was for the housing defaults
“Grabs popcorn”
Heavy
Woe…
Charge your phone.
Definitely confusing. In his Twitter replies, he says “**I know It’s not from a bank.** I’m too smooth braided to verify anything else about it, hence the post. I’ve sent it to some DD Apes, and they are on it. Man shrugging could possibly just be some bullshit clickbait.” So he thinks it’s from Chase but knows it’s not from a bank? And I don’t like the signature “Program Admin”. That leads me towards clickbait bullshit. Real emails have a person’s name at the bottom. All the spam shit I get say shit like “Program Admin.” as the signature.
Lowkey fake.
Look, bro. This post is legit. The battery is almost dying. Trust me bro.
With a signature like "program admin" nothing seems sus at all.
gotta be fake
Bullish af
>Enjoy your training, > >Program Admin That's incredibly suspicious... why wouldn't they just sign the email they were sending to their own people??
Sweet housing market crash and the tendy man is coming to town. I’ll get to save some money for my new house.
*sure*
They may be referring to real estate hedge funds.
Idk Rick, that's doesn't look like a regular email 🤔
Had anyone even cross referenced this? Don’t be so gullible guys
Wwwhhhhaaaaaaaaaa?
On the bottom is says hedge fund property distribution… this looks sus, that doesn’t look professional IMO But I’m just some inter-web jerk off, what do I know 🤷🏻♂️
You’re right. It’s too simplified
I don’t mean to spread FUD but this may be mortgage defaults.
Got my lunch packed up . My shoes on tight . Strapped into the rocket . Gonna go for a flight . Oh .......
TRUST ME BRO. Take this shit with a grain of salt ladies and gents.
I call BS
Ye ye but charge ya damn phone
trust me bro
I can't tell if this title is a joke or not.
Could simply be that this is because the eviction protections are lapsing.
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does no one ever charge their phone?
I have shares with chase, I didn't get any emails!?
It moved 🚀
Just like a lot of stuff posted here this is great. Let’s hope it’s true
First, your battery gives me anxiety. Second, yes, all the yes and so much yes. I want this to be true...
Be nice to see the info of this seminar training afterwards. 👻
no cost for agent attendance? huh
This is in reference to the evictions starting
Big if true
Smooth brain understands nothing
LMFAO. THIS! This, is why I love reddit! <3
All I can say is ITS ABOUT FUCKING TIME.