Discover and read the best of Twitter Threads about #homeBuyers
Most recents (6)
A better solution doesn't exist, but here is a short 🧵on why looking at "Average Mortgage Rates" can be misleading in today's world.
#HomeBuyers or wanna-be #HomeSellers - pay close attention! Don't get discouraged running payments on your computer...talk to a professional!
#HomeBuyers or wanna-be #HomeSellers - pay close attention! Don't get discouraged running payments on your computer...talk to a professional!
Conventional Loans are tough to price out these days. The #FHFA has a complicated pricing grid that requires points (upfront $$ - one point = 1% of your loan amount in a cash fee) to be collected based on certain loan parameters, LTV, Credit Score, etc
singlefamily.fanniemae.com/media/9391/dis…
singlefamily.fanniemae.com/media/9391/dis…
These fees are historically absorbed in modestly higher rates. However, the mortgage bond market is not trading well these days so the profit in higher rates to absorb those fees doesn't exist. As a result, "Zero Point" loans can be quite high!
#SikandarSingh Alias #SikandarChhokar led @MahiraGroup 's firm #CZARBuildwell has completed massive 0% Construction on #AffordableGroupHousing colony #MahiraHomes104 Project site in Gurgaon in return of 50% payment it has demanded from its #homebuyers 
Out of the 90Cr paid by #MahiraHomes104 allottees in Dec2021 as part of the 25% of their unit cost,the #SikandarSingh alias #SikandarChhokar,led @MahiraGroup illegally &fraudulently siphoned off around 60Cr from MahiraHomes104 Project Bank Accounts &held guilty by #HRERA_Gurugram
Despite #HRERA_Gurugram orders #SikandarSingh alias #SikandarChhokar led @MahiraGroup has not deposited 60Cr (approx.) to #MahiraHomes104 Project bank accounts. The balance in the Project #Escrow account as of 03.02.2023 was Rs.4.64 Lacs & in the free account was Rs.6.21 (approx)
@indranichaudhu6 @PMOIndia @logixzestnoida @BJP4UP @prakharjazzwala @Realty_Et @TOIEditor That's the last viable option available at this juncture as every authority failed to pay heed to #CheatedHomeBuyers pleas
We hav become beggars, scamsters looted & enjoying with our hard earned tax paid money
How many of you ready to take oath to stop EMIs for this month
1/n
We hav become beggars, scamsters looted & enjoying with our hard earned tax paid money
How many of you ready to take oath to stop EMIs for this month
1/n
@indranichaudhu6 @PMOIndia @logixzestnoida @BJP4UP @prakharjazzwala @Realty_Et @TOIEditor Yes, people who r fearful about credit score, need 2 learn 4m Chinese public. If each one having loan against under construction property stops only single EMI, it should send the shivers to the banks & builders. The #RBI & govt would be forced to intervene & provide resolution
@indranichaudhu6 @PMOIndia @logixzestnoida @BJP4UP @prakharjazzwala @Realty_Et @TOIEditor People who are fearful can make payment at the end of month to protect credit score but that one EMI bounced in month of Aug should impact a lot
Next step, make associations & approach HC for EMI relief as such large scam can't run without involvement of banks
3/n
Next step, make associations & approach HC for EMI relief as such large scam can't run without involvement of banks
3/n
#SupremeCourt to hear a PIL seeking direction to the Centre to frame model pacts for builders and agent buyers to protect customers and bring in transparency in the realty sector in tune with the Real Estate Regulatory Authority (RERA) Act, 2016 @AshwiniUpadhyay
Sr Adv Vikas Singh: It's a PIL
Justice Chandrachud: the next plea is a claim against a developer we will not entertain this. But regarding this plea under what provision and how will this model agreement be framed
Singh: it should be by the centre for states to follow
Justice Chandrachud: the next plea is a claim against a developer we will not entertain this. But regarding this plea under what provision and how will this model agreement be framed
Singh: it should be by the centre for states to follow
Singh: There is no mandatory language. states may or may not frame the model BBA. There should be a model to be adopted by the states
Justice Chandrachud: is there a provision allowing Centre to frame this model BBA
Justice Chandrachud: is there a provision allowing Centre to frame this model BBA
In 2019, several homebuyers, largely those belonging to middle income groups, made representation to @PMOIndia about their situation- having to pay EMI while continuing to live in rented houses. Projects were stalled, they didn’t get possession of their homes. @PIB_India (1/4)
The real estate sector was under stress. Financial institutions couldn’t give additional funds to complete the projects.
The #middleclass #homebuyers were in a quandary.
After several stakeholder consultations, #SWAMIH Fund was created.
@PIB_India (2/4)
The #middleclass #homebuyers were in a quandary.
After several stakeholder consultations, #SWAMIH Fund was created.
@PIB_India (2/4)
Stalled #RERA-registered projects from all over the country were identified. Steps in due diligence were taken.
Despite #Covid,the @finmin, @DFS_India, @MoHUA_India @TheOfficialSBI worked together. Several state govts were proactive in facilitating the process.
@PIB_India (3/4)
Despite #Covid,the @finmin, @DFS_India, @MoHUA_India @TheOfficialSBI worked together. Several state govts were proactive in facilitating the process.
@PIB_India (3/4)
Justice has been denied. A three year project can be delayed by 6 months or 1 year, not for 10+ years. People lost their dreams, savings of life still no authorities, courtshav time 2 listen & fix d issues. D cheat builders 4m @CREDAINCR @CredaiHaryana @credaiUP roaming free
People lost their life in journey 2 own their home. Not one project but thousands of projects, lakhs of #CheatedHomeBuyers hav been looted & every authorities took commission in this organised loot. We r paying EMIs 4 home which we will never get. It is begar we r doing for banks
We will die and as worst situation, our child will still paying these EMIs. We planned to give them roof in a big city but they would inherit these loans. What a pity! It is SOS from homebuyers. @PMOIndia @FDcustUnitech @myogiadityanath @cmohry @VvekTyagi @abhaykol @klaroia
