Anyone remember powayseller?

[(former)FormerSanDiegan]

[quote=deadzone]Are you suggesting that the Alt-As won’t “recast” like the Option ARMs? Because when the reset hits, it’s not just the interest rate. Nearly all of these borrorers are now well under water (See WSJ front page today). This means due to their decreasing LTV, monthly payment will still go up regardless of interest rate.[/quote]

deadzone – DaCounselor explained it well.

Being underwater on an existing loan has nothing to do with the rate on an existing loan. It is not dependent on LTV. Only a new loan is. Your typical 5/1 Alt-A loan made in 2005 will reset in 2010 at a rate determined by the index and the margin. Typical margins were 2.25% on the 12-month LIBOR. If those were to reset today the fully-indexed rate would be ~1.25% (LIBOR) + 2.25% (Index) = 3.5%. Since most have a minimum rate the rate would likely stay the same.
If it was an interest only loan, they would now pay principal. The alt-A resets are not (at least for now, while short-term rates remain below about 4%) the disaster trigger event that was predicted or assumed when short-term rates were nearing 6% in 2006 (which would imply 8%+ reset rates).

[Rich Toscano]

I’ve recently had an email discussion with PS and it seems that her “conflict management” skills have improved vastly in the intervening years. So I’ve decided to let her post to the site again if she wants to. I hope that past personality conflicts can be left behind and that we can all focus on the analysis and on having enjoyable (and reasonably friendly) conversations.

Thanks,
Rich

[Rich Toscano]

I’ve recently had an email discussion with PS and it seems that her “conflict management” skills have improved vastly in the intervening years. So I’ve decided to let her post to the site again if she wants to. I hope that past personality conflicts can be left behind and that we can all focus on the analysis and on having enjoyable (and reasonably friendly) conversations.

Thanks,
Rich

[Rich Toscano]

I’ve recently had an email discussion with PS and it seems that her “conflict management” skills have improved vastly in the intervening years. So I’ve decided to let her post to the site again if she wants to. I hope that past personality conflicts can be left behind and that we can all focus on the analysis and on having enjoyable (and reasonably friendly) conversations.

Thanks,
Rich

[Rich Toscano]

I’ve recently had an email discussion with PS and it seems that her “conflict management” skills have improved vastly in the intervening years. So I’ve decided to let her post to the site again if she wants to. I hope that past personality conflicts can be left behind and that we can all focus on the analysis and on having enjoyable (and reasonably friendly) conversations.

Thanks,
Rich

[Rich Toscano]

I’ve recently had an email discussion with PS and it seems that her “conflict management” skills have improved vastly in the intervening years. So I’ve decided to let her post to the site again if she wants to. I hope that past personality conflicts can be left behind and that we can all focus on the analysis and on having enjoyable (and reasonably friendly) conversations.

Thanks,
Rich

[jpinpb]

Holiday good will? 🙂

Does this mean you are going to invite Marion back too? LOL.

[jpinpb]

Holiday good will? 🙂

Does this mean you are going to invite Marion back too? LOL.

[jpinpb]

Holiday good will? 🙂

Does this mean you are going to invite Marion back too? LOL.

[jpinpb]

Holiday good will? 🙂

Does this mean you are going to invite Marion back too? LOL.

[jpinpb]

Holiday good will? 🙂

Does this mean you are going to invite Marion back too? LOL.

[powayseller]

You guys are right – at times, I was belligerent and argumentative, a real a**.

I thought I knew everything. My forecasts were aborted by government stimulus, which I did not expect. I’ve learned to be humble.

I just want to apologize to anyone that I offended, especially Rich, since he is the person who really gave me my start in real estate and led me to sell my house at the right time.

Having my own business has forced me to grow up, and to mind my own business.

My outlook is still the same – further declines in real estate and stock market ahead, after government stimulus ends. Damn, how could I not have predicted the stimulus?? In hindsight, it was stupid to miss. The Fed and gov’t have blown a bubble after every crash the past few decades.

The video were shot at random, and I was hoping to find someone who would slam realtors, since that would have made a funnier video. However, only one person would do that and all he said is they are too expensive. I’ll make another attempt soon.

[powayseller]

You guys are right – at times, I was belligerent and argumentative, a real a**.

I thought I knew everything. My forecasts were aborted by government stimulus, which I did not expect. I’ve learned to be humble.

I just want to apologize to anyone that I offended, especially Rich, since he is the person who really gave me my start in real estate and led me to sell my house at the right time.

Having my own business has forced me to grow up, and to mind my own business.

My outlook is still the same – further declines in real estate and stock market ahead, after government stimulus ends. Damn, how could I not have predicted the stimulus?? In hindsight, it was stupid to miss. The Fed and gov’t have blown a bubble after every crash the past few decades.

The video were shot at random, and I was hoping to find someone who would slam realtors, since that would have made a funnier video. However, only one person would do that and all he said is they are too expensive. I’ll make another attempt soon.

[powayseller]

You guys are right – at times, I was belligerent and argumentative, a real a**.

I thought I knew everything. My forecasts were aborted by government stimulus, which I did not expect. I’ve learned to be humble.

I just want to apologize to anyone that I offended, especially Rich, since he is the person who really gave me my start in real estate and led me to sell my house at the right time.

Having my own business has forced me to grow up, and to mind my own business.

My outlook is still the same – further declines in real estate and stock market ahead, after government stimulus ends. Damn, how could I not have predicted the stimulus?? In hindsight, it was stupid to miss. The Fed and gov’t have blown a bubble after every crash the past few decades.

The video were shot at random, and I was hoping to find someone who would slam realtors, since that would have made a funnier video. However, only one person would do that and all he said is they are too expensive. I’ll make another attempt soon.

[powayseller]

You guys are right – at times, I was belligerent and argumentative, a real a**.

I thought I knew everything. My forecasts were aborted by government stimulus, which I did not expect. I’ve learned to be humble.

I just want to apologize to anyone that I offended, especially Rich, since he is the person who really gave me my start in real estate and led me to sell my house at the right time.

Having my own business has forced me to grow up, and to mind my own business.

My outlook is still the same – further declines in real estate and stock market ahead, after government stimulus ends. Damn, how could I not have predicted the stimulus?? In hindsight, it was stupid to miss. The Fed and gov’t have blown a bubble after every crash the past few decades.

The video were shot at random, and I was hoping to find someone who would slam realtors, since that would have made a funnier video. However, only one person would do that and all he said is they are too expensive. I’ll make another attempt soon.

[Author]

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