if you're in a bubbley area, far from jobs prices can crash

if you're in a rock solid area, they wont drop much

another protip, usually you can refinance 6 months after you buy your house and get a better interest rate

If you inherit a house and land would you also inherit all related debts?

they give a better rate to you on refi because you've already shown you can be trusted to pay for a few months

no

totally depends on the will

What happens to the debts?

good question, depends on the laws

I've often worried about this

I might inherit my great grandfather's house

sometimes houses are immune from debts, but only in certain places like florida

Talking about this just reminded me that I'm the heir to my brother's assets and my father's assets

yeah i think usually they settle the estate, and creditors may get their cut of bills due

Ok

it really depends on your local laws

I need to research the law

I don't want to be fucked with debt

tell your grandpappy to not be such an irresponsible lowlife with his debts

well you can never inherit debts

Don't talk about my grandpa like that

worst case you just get zero inheritance

https://gfycat.com/lawfullightheartedflyingsquirrel

Also he's not irresponsible technically he just has some mortgage debt

if thats all he has, hes fine

I just don't know if I could afford that in the near future

https://twitter.com/Nick_Fullerrrr/status/1188015935015096321

you can do the math, a 30 year amortized mortgage payment is a lot smaller than you think

i thought i heard canada even does like 40 or 50 year mortgages

Yeah I just don't know what the payments are like, if there is interest and what the rates are like, if I can even inherit debt in the first place, etc;

1. pull up property on zillow

2. estimate the debt amount he owes

3. do mortgage calculator

Ok

Ty

It's actually kinda lit tbh

If I killed a few relatives I would have millions of dollars and two properties

Two dozen acres of land, a small farm and two four story houses

😈 🔪