Wage garnishments usually require a judgment against the debtor first.

In this situation it appears that is not the case and if the house sells medicaid will be one of the debtors to be paid.  

Mind you, the $1.5 Billion property tax hike mentioned here does not cover CPS, Cook County or other governmental debt or any pay raises or retirment benefit hikes that occur before the debt is paid off. 

Will this one be eligible for Agency debt or will you be looking for a competitive small balance commercial program to exit the hard money? 

To be fair, his advice on not having credit card debt or buying dumb things like a boat all makes sense.

I have about 25k in cash available. I also have about 45k in non-real estate debt. Credit cards, car loan. I really want to refinance my current residence to get it rented and look to buy a new home. Both the refinanc...

If you want to talk collapse potential, how about consumer debt?

When you talk about the debt to income ratio, is this referring to just consumer/personal, non-mortgage debt?

Inflation destroys the value of fixed rate debt - or even variable rate debt, below the rate of inflation - over time, resulting in financial gains for the debtor and financial losses for the debt owner.

Nothing has changed the truth of that statement in at least 150 years in America, and it has been tested through worse pandemics than this one.Especially those with NO debt or very little debt on their lower end portfolios in the low value areas of the US