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Michael Bordenaro
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Comments by "" (@commonsense6967) on "RENTERS Its YOUR TURN! Rent Prices FINALLY Dropping" video.
You are describing a balloon mortgage here. They were common back in the '80s, when conventional mortgage rates were sky-high, and many people were unable to refinance when the time came. They lost their houses as a result. Balloon mortgages are bad news.
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I don't think you're a doom and gloom channel, and I especially enjoy the micro information you gave today on homeowner's insurance rates, and how they vary by county here in FL. Are you also aware that the new property insurance law passed by the FL legislature a couple months ago requires ALL homeowners' property insurance policies to include flood insurance, also?? Which will undoubtedly make premiums jump even higher! This begins 1/1/26, or 1/1/27, can't recall which year. And i've lived 33 years in my N. FL home without ever needing flood insurance, nor have I needed to make a claim on my homeowner's. IMO, for those without a mortgage and otherwise able, it may be time to self-insure. (Who can afford NOT to??!)
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