Tracking DSP's Twitch Contributions for the past 90 days -

[TheGoutburglar]

If that's the case, then I'll go so far as to say that he's destined to lose the WAkhando, because he has no way of making up the lost revenue. Except by suddenly budgeting, which he isn't going to do. He may be worried right now, but I guarantee it isn't as much as he should be. If he was taking this as seriously as even he is capable of, he would have deleted Champions already and not concerned himself with feeling like that makes him the loser. Fat chance of him suddenly shedding his idiotic sense of priorities.

 

[Flavius Anthemius]

If that's the case, then I'll go so far as to say that he's destined to lose the WAkhando, because he has no way of making up the lost revenue. Except by suddenly budgeting, which he isn't going to do. He may be worried right now, but I guarantee it isn't as much as he should be. If he was taking this as seriously as even he is capable of, he would have deleted Champions already and not concerned himself with feeling like that makes him the loser. Fat chance of him suddenly shedding his idiotic sense of priorities.

He's an intelligent adult with a business degree and specialised in finance. Don't worry, he should be able to prepare a budget and stick to it, revaluate any insurances payments, downscale his dwelings and/or vehicles, liquidate any assets he does possess and try to spend less then what he earns.

Sounds easy enough for Phil yeah, let's see how he goes.

Take a hint you disgusting begger, we know you're wasting time playing fucken mobile games and drinking gin, prove to use you're not a complete dumbarse.

 

[BallBuster]

If that's the case, then I'll go so far as to say that he's destined to lose the WAkhando, because he has no way of making up the lost revenue. Except by suddenly budgeting, which he isn't going to do. He may be worried right now, but I guarantee it isn't as much as he should be. If he was taking this as seriously as even he is capable of, he would have deleted Champions already and not concerned himself with feeling like that makes him the loser. Fat chance of him suddenly shedding his idiotic sense of priorities.

If you think he isn't going to pay his mortgage because of this you are nuts. The last thing he will willingly give up is the Khando. He will kill his business internet line before anything to save a few hundred a month.

 

[Ridin' On My Scootypuff]

If you think he isn't going to pay his mortgage because of this you are nuts. The last thing he will willingly give up is the Khando. He will kill his business internet line before anything to save a few hundred a month.

The mortgage alone on the WAKhando is $1500, plus utilities + I think he still has to pay something on the CT Khando.

DSP is absolutely house poor rn, this happens all the time when high income people loose their jobs. If I was him, I'd look at selling that thing right now and use the cash from the increase in value to get something cheap.

That being said, once the WAKhando goes, Khet goes. Can't see why she'd stick around to live in a 2 bed apartment with Phil streaming in the little bedroom.

 

[TheGoutburglar]

If you think he isn't going to pay his mortgage because of this you are nuts. The last thing he will willingly give up is the Khando. He will kill his business internet line before anything to save a few hundred a month.

I didn't say he would willingly not pay it. I'm saying he's, one day, not going to be able to afford to because he was expecting a certain amount in tips, blew just enough money on gacha, and then the tips came up short. Then it's going to happen again. And again. Because no matter what the tips are like, he's going to fuck up the delicate balancing act required to maintain his addiction and his financial obligations with the income cut in half like this. It's beyond him.

 

[Prince Lotor]

If you think he isn't going to pay his mortgage because of this you are nuts. The last thing he will willingly give up is the Khando. He will kill his business internet line before anything to save a few hundred a month.

I'm not sure how closely you were following Phil around October 2019 in the months before he filed his bankruptcy January 2020, but during this time he was working with his strip-mall bankruptcy-mill attorney (starting in like early September 2019 iirc) and Phil was just going to skip payment on the WAkando's mortgage that month just because he didn't have the cash on hand.
The only thing that stopped him from skipping that payment is the strip-mall lawyer asked him if he was current on his mortgage payments for it and dumbfuck revealed that he was planning on skipping his October payment. She told him to absolutely under no circumstances skip his fucking mortgage payment if he wanted to be able to reaffirm the mortgage agreement during his bankruptcy.
This was the "Guys, I need $1,800 in a week by the end of October and I can't tell you why, but it's very important and will mess up everything I've been working towards financially for the past year if I don't get it" begging he did during October 2019.

This was a time where he actually could have been in danger of his mortgage company saying they weren't comfortable reaffirming the mortgage agreement with him because of past breach of contract due to non-payment. He actually could have lost the WAkando because he just shrugged his shoulders and decided to skip a payment.
What did Phil do to ensure he got this money after he was told not to be a fucking idiot and skip payment on it? Absolutely nothing.
He just typed '$0/$1800' into his stream overlay instead of '$0/$100', he literally just pushed 1 extra button on his laptop keyboard to try to secure this money he described as "make or break". He put the entire responsibility on his audience to either pay or not pay his mortgage.

Phil will absolutely play fast and loose with his mortgage payments to keep spending on things he wants. He was actively spending an average of $1,500 to $2K per month on WWE Champions during this time period. He's a fucking idiot and a gacha addict.

 

[twattycake]

Does anyone know what Phil's mortgage payment is? How much is the interest?

Exact amount is in his bankruptcy filing, but I think it was ~$1500 + $300 HOA fees.

The bankruptcy reports a cost of $1,830.00 / month in principal, interest, and property tax plus $360.00 / month in HOA fees. Using the deed of trust for the condo (link) we know the parcel number is 6614800300. Plugging this into the county property tax lookup (seriously, King County's online records are fantastic) we get a payment of $2,210.40 paid twice annually or $4,420.80/year. This is equivalent to $368.40 / month in property tax; subtracting that from the $1,830.00 / month value gives a principal + interest of $1,416.60 / month. At the risk of stating the obvious he is liable for the property tax and HOA fees even after the mortgage is paid off.

Interest is a bit trickier - interest is charged on the entire amount remaining so the monthly installment is fixed but the portion which goes towards interest instead of principal decreases with time. Somebody in the Foreclosure thread mentioned that payments on a thirty year mortgage like Phil's will mostly just be interest until year 15 or so. This is complicated so we'll ignore it for simplicity. Phil's mortgage started at $251,700 per the deed (link). For a thirty-year mortgage this works out to $252,000 (rounded) / 30 years / 12 months per year = $700 /month. So on average just over half of his monthly payments are interest, all because he was too inept with money to save up for a higher down payment or shorter-term mortgage.

If you were asking about an exact rate the deed does not spell it out but playing with this widget from Zillow gave me an interest rate of 5.7 percent. This is high and tells me the bank had some reservations about giving Phil the mortgage. The exact formula is proprietary but my guess is that his high income only partially offset his lack of liquid assets and insistence on a low down payment.

 

[No Context DSP Chat]

The bankruptcy reports a cost of $1,830.00 / month in principal, interest, and property tax plus $360.00 / month in HOA fees. Using the deed of trust for the condo (link) we know the parcel number is 6614800300. Plugging this into the county property tax lookup (seriously, King County's online records are fantastic) we get a payment of $2,210.40 paid twice annually or $4,420.80/year. This is equivalent to $368.40 / month in property tax; subtracting that from the $1,830.00 / month value gives a principal + interest of $1,416.60 / month. At the risk of stating the obvious he is liable for the property tax and HOA fees even after the mortgage is paid off.

Interest is a bit trickier - interest is charged on the entire amount remaining so the monthly installment is fixed but the portion which goes towards interest instead of principal decreases with time. Somebody in the Foreclosure thread mentioned that payments on a thirty year mortgage like Phil's will mostly just be interest until year 15 or so. This is complicated so we'll ignore it for simplicity. Phil's mortgage started at $251,700 per the deed (link). For a thirty-year mortgage this works out to $252,000 (rounded) / 30 years / 12 months per year = $700 /month. So on average just over half of his monthly payments are interest, all because he was too inept with money to save up for a higher down payment or shorter-term mortgage.

If you were asking about an exact rate the deed does not spell it out but playing with this widget from Zillow gave me an interest rate of 5.7 percent. This is high and tells me the bank had some reservations about giving Phil the mortgage. The exact formula is proprietary but my guess is that his high income only partially offset his lack of liquid assets and insistence on a low down payment.

Having gone through the mortgage process (once for the initial purchase and again for the refinance into a 15yr), there's quite a few things a loan officer will take into account in order to determine what rate they will offer you for a mortgage, including:

• Monthly Income
• Stability of said income (making $5k a month every month is more stable than sometimes making $8k and sometimes making $2k).
• Spending Habits: loan officers will ask you for 2-3 months of bank statements to see if you have spurious spending habits.
• Loan-to-Value ratio which is basically what you mentioned with a down payment: Take the loan amount, divide it by the value of the home, and you get LTV. High LTV means your down payment is really low, so it poses a greater risk of default.

Now here's a question: You're a loan officer for a bank. A guy with 13 credit cards waddles into your office asking for a loan to buy a condo in Renton. He shows no signs of having done research, or understanding how anything works. What interest rate do you give him?

 

[Schmeckel]

What interest rate do you give him?

The "not interested" interest rate.

 

[Ol' Slag]

The "not interested" interest rate.

Not exactly. If that guy is paying the minimum on his credit cards and is good standing, you will certainly give him an interest rate.

The reason I asked about what DSP pays per month is he totally got screwed out of the rock bottom interest rates that have recently occured.

Also, DSP is stuck at that location for at least ten years or more likely the rest of his life.

With the bankruptcy, no legitimate bank will touch DSP with a ten foot pole. He might be able to get a loan through a loan company on a reservation (the kind that host late night ads with exorbitant fees) if he wanted to move but like it or not, that is DSP's forever home.

 

[albert chan]

He may be worried right now, but I guarantee it isn't as much as he should be. If he was taking this as seriously as even he is capable of, he would have deleted Champions already and not concerned himself with feeling like that makes him the loser. Fat chance of him suddenly shedding his idiotic sense of priorities.

Would it really be DSP if he ever had any real life priorities in the first place that didn’t involve e-begging?

 

[Gezkill]

Me: Uses his autistic free time to make fun of the walking contradiction that is Phil
You: Autism powers activate, form of a giant data sheet of his earnings on Twitch.