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Chicago Atlantic Real Estate Finance Inc

$16.16

-$0.2
(-0.01%)
52 Week High:
$18.67
52 Week Low:
$13.44
About Chicago Atlantic Real Estate Finance Inc

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Sentiment:
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Recent Comments

Q2 2008 425,000 foreclosers. Q2 2008 avg days to complete forevloser was 200. Why would my neighbor, who like most americans, locked in a historically low rate on their house 2 years ago be struggling to make their payment? And even if they did the avg household is almost 3 years away from forecloser. Lastly look at mortgage apps in the last 2 weeks. Rates came down 50 basis points and apparently jumped almost 3 percent. Refi up over 2 percent as well. The market is fine and healthy. No arms to fuck it all up. Prices will rise and fall, sure. And there's downside on prices before upside. But no ones losing their home like 2008, because their payments are going down compaired to their wages.
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Bullish

whats a refi?
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Bullish

When she’s a 10 but asks “why do you look at your phone all day so intensely and at night too but when I want to watch something you can barely pay attention” and is like “I really hope we can do the addition on the house like we talked about, didn’t we get some money from the refi where is that again?” ❌
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Bullish

>I'm getting push back on this, so I'm trying to understand. If I owe $100k at 3.5% for 12 more years how does the math work out to pay less interest, ignoring refi fees, at 2.5% for 30 years? Again,, you keep going into this thinking you HAVE to pay the minimum payment over the lifetime of the mortgage. You don't. In this example you could simply refi, and continue paying whatever you were paying before you did your refi. You'd have it paid off in less time, or you could pay slightly less per month, and still pay it off in 12 years.
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Bullish

As well as the balancing effect from the 2020 refi boom + the 2021 purchase boom/bubble. The balance of it would be correction (regardless of speed/drop rate). The remainder would be your industry recession
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Bullish

We lucked out in every way imaginable. Bought a foreclosed house in 2015. 3k sq ft, 3 bed, 2 bath. USDA listed, so had to have all functional major appliances; Furnace, stove, dishwasher all new at time of offer. Appraisal came through, and the water heater had rusted out. Replaced for a minor increase in asking price, and a home warranty included. First summer, AC coils are bad. Replaced under warranty. 2017 I take out a loan to do siding and windows. 24k. Mid 2018, mortgage company calls asking if we're interested in a refi. I take them up on it. They roll the siding/windows loan into the new home loan. Appraise the house for a little over twice what we paid for it. New rate is almost half what we initially had. Reduced term to 15 years. House payment went up $18/mo. If we hadn't gotten so lucky, I can't imagine how rough we'd have it right now. We definitely wouldn't have added 2 more kids.
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Bullish

I was never a believer in refinance until I did the math this way... Refi $100k at 2.5% for 30 years BUT keep paying the same monthly payment you were paying prior to the refi. I found I would be saving $10k throughout the life of the loan. I think the misconception comes from refinancing and only paying the new smaller amount. Then yes, the "clock" starts over.
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Bullish

You’re not wrong, some people don’t know what the word amortization actually means. Your lender knows, and for that reason will happily have you refi as often as you want. Even ignoring fees for points or processing, which a lot of people conveniently do in their math, the resulting true savings is not very often significantly in your favor in pure dollars across refi events. As others have said, it definitely CAN be a great move for some, but the math isn’t as easy as “had 25 yrs @5%, now have 30yrs @3%”. You already paid in at a heavy cost that can’t be ignored in the average.
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Bullish

Bro, good for you. My wife and I are millenials and missed the low-interest extravaganza because we started our careers late. Now we have to buy at a low price/high interest rate and refi at some stupid rate like 4%. I'm jealous but I'm happy you got in.
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Bullish

Yeah I’m half way through a 15 year at 2.4%. I wouldn’t refi for 1.5%.
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