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  • February 15, 2008 at 1:01 PM #154010
    Raybyrnes
    Participant

    raptorduck

    I am a little confused as to why somone with a good deal of wealth would put any more than the minimum amount down on a home that would qualify him for the best possible rate. WWith substantial amount of wealth I would have to assume that you have a Good financial advisor. What have they suggested about doing this? Just doesn’t seem to make a lot of sense to me.

    February 15, 2008 at 1:03 PM #153642
    blahblahblah
    Participant

    Lender after lender has been telling her, “Nope. We want 45% down.”

    Awesome, that says that they expect that it is at least possible that the property will decline $450K in value. Sounds like they may be planning on carrying this mortgage instead of securitizing it. If we can avoid the government bailouts and put an end to the securitization so that banks have to carry these loans we will see normal prices return. Otherwise it’s just gonna keep on going — until it can’t any more…

    February 15, 2008 at 1:03 PM #153914
    blahblahblah
    Participant

    Lender after lender has been telling her, “Nope. We want 45% down.”

    Awesome, that says that they expect that it is at least possible that the property will decline $450K in value. Sounds like they may be planning on carrying this mortgage instead of securitizing it. If we can avoid the government bailouts and put an end to the securitization so that banks have to carry these loans we will see normal prices return. Otherwise it’s just gonna keep on going — until it can’t any more…

    February 15, 2008 at 1:03 PM #153933
    blahblahblah
    Participant

    Lender after lender has been telling her, “Nope. We want 45% down.”

    Awesome, that says that they expect that it is at least possible that the property will decline $450K in value. Sounds like they may be planning on carrying this mortgage instead of securitizing it. If we can avoid the government bailouts and put an end to the securitization so that banks have to carry these loans we will see normal prices return. Otherwise it’s just gonna keep on going — until it can’t any more…

    February 15, 2008 at 1:03 PM #153940
    blahblahblah
    Participant

    Lender after lender has been telling her, “Nope. We want 45% down.”

    Awesome, that says that they expect that it is at least possible that the property will decline $450K in value. Sounds like they may be planning on carrying this mortgage instead of securitizing it. If we can avoid the government bailouts and put an end to the securitization so that banks have to carry these loans we will see normal prices return. Otherwise it’s just gonna keep on going — until it can’t any more…

    February 15, 2008 at 1:03 PM #154015
    blahblahblah
    Participant

    Lender after lender has been telling her, “Nope. We want 45% down.”

    Awesome, that says that they expect that it is at least possible that the property will decline $450K in value. Sounds like they may be planning on carrying this mortgage instead of securitizing it. If we can avoid the government bailouts and put an end to the securitization so that banks have to carry these loans we will see normal prices return. Otherwise it’s just gonna keep on going — until it can’t any more…

    February 15, 2008 at 1:21 PM #153652
    drunkle
    Participant

    i dont understand how securitization of loans was a socialist experiment. the sale of debts seems to me to be the epitome of capitalism. that unregulated capitalism is the reason we are here today and not vice versa.

    February 15, 2008 at 1:21 PM #153924
    drunkle
    Participant

    i dont understand how securitization of loans was a socialist experiment. the sale of debts seems to me to be the epitome of capitalism. that unregulated capitalism is the reason we are here today and not vice versa.

    February 15, 2008 at 1:21 PM #153943
    drunkle
    Participant

    i dont understand how securitization of loans was a socialist experiment. the sale of debts seems to me to be the epitome of capitalism. that unregulated capitalism is the reason we are here today and not vice versa.

    February 15, 2008 at 1:21 PM #153951
    drunkle
    Participant

    i dont understand how securitization of loans was a socialist experiment. the sale of debts seems to me to be the epitome of capitalism. that unregulated capitalism is the reason we are here today and not vice versa.

    February 15, 2008 at 1:21 PM #154026
    drunkle
    Participant

    i dont understand how securitization of loans was a socialist experiment. the sale of debts seems to me to be the epitome of capitalism. that unregulated capitalism is the reason we are here today and not vice versa.

    February 15, 2008 at 1:50 PM #153667
    blahblahblah
    Participant

    i dont understand how securitization of loans was a socialist experiment.

    It wasn’t. Like you said, securitization of mortgage debt and the fraudulent rating thereof was unregulated capitalism. The socialism will come in the endgame, when unregulated capitalism produces the predictable disastrous outcome — in this case a massive wave of foreclosures. The government will either print money to deflate the value of these debts as well as their own (stealing the savings from those who have it, a “stealth” tax as it were), or by simply purchasing the bad loans and then renegotiating the terms with the borrowers to allow them to stay in their houses. There are tons of plans floating around now, but all of them will involve a transfer of wealth from those who have it to those who don’t.

    A similar thing happened under FDR in the 1930s after another disastrous episode of unregulated capitalism run amok. The answer then was massive public works projects, social security, etc…

    Long story short, if you don’t like socialism then make sure your capitalist system is well-regulated. Otherwise, that’s exactly what you’re going to end up with when the wheels come off the ponzi scheme and the unwashed masses demand reparations. In the 1920s it was stocks, this time it was houses.

    February 15, 2008 at 1:50 PM #153939
    blahblahblah
    Participant

    i dont understand how securitization of loans was a socialist experiment.

    It wasn’t. Like you said, securitization of mortgage debt and the fraudulent rating thereof was unregulated capitalism. The socialism will come in the endgame, when unregulated capitalism produces the predictable disastrous outcome — in this case a massive wave of foreclosures. The government will either print money to deflate the value of these debts as well as their own (stealing the savings from those who have it, a “stealth” tax as it were), or by simply purchasing the bad loans and then renegotiating the terms with the borrowers to allow them to stay in their houses. There are tons of plans floating around now, but all of them will involve a transfer of wealth from those who have it to those who don’t.

    A similar thing happened under FDR in the 1930s after another disastrous episode of unregulated capitalism run amok. The answer then was massive public works projects, social security, etc…

    Long story short, if you don’t like socialism then make sure your capitalist system is well-regulated. Otherwise, that’s exactly what you’re going to end up with when the wheels come off the ponzi scheme and the unwashed masses demand reparations. In the 1920s it was stocks, this time it was houses.

    February 15, 2008 at 1:50 PM #153958
    blahblahblah
    Participant

    i dont understand how securitization of loans was a socialist experiment.

    It wasn’t. Like you said, securitization of mortgage debt and the fraudulent rating thereof was unregulated capitalism. The socialism will come in the endgame, when unregulated capitalism produces the predictable disastrous outcome — in this case a massive wave of foreclosures. The government will either print money to deflate the value of these debts as well as their own (stealing the savings from those who have it, a “stealth” tax as it were), or by simply purchasing the bad loans and then renegotiating the terms with the borrowers to allow them to stay in their houses. There are tons of plans floating around now, but all of them will involve a transfer of wealth from those who have it to those who don’t.

    A similar thing happened under FDR in the 1930s after another disastrous episode of unregulated capitalism run amok. The answer then was massive public works projects, social security, etc…

    Long story short, if you don’t like socialism then make sure your capitalist system is well-regulated. Otherwise, that’s exactly what you’re going to end up with when the wheels come off the ponzi scheme and the unwashed masses demand reparations. In the 1920s it was stocks, this time it was houses.

    February 15, 2008 at 1:50 PM #153965
    blahblahblah
    Participant

    i dont understand how securitization of loans was a socialist experiment.

    It wasn’t. Like you said, securitization of mortgage debt and the fraudulent rating thereof was unregulated capitalism. The socialism will come in the endgame, when unregulated capitalism produces the predictable disastrous outcome — in this case a massive wave of foreclosures. The government will either print money to deflate the value of these debts as well as their own (stealing the savings from those who have it, a “stealth” tax as it were), or by simply purchasing the bad loans and then renegotiating the terms with the borrowers to allow them to stay in their houses. There are tons of plans floating around now, but all of them will involve a transfer of wealth from those who have it to those who don’t.

    A similar thing happened under FDR in the 1930s after another disastrous episode of unregulated capitalism run amok. The answer then was massive public works projects, social security, etc…

    Long story short, if you don’t like socialism then make sure your capitalist system is well-regulated. Otherwise, that’s exactly what you’re going to end up with when the wheels come off the ponzi scheme and the unwashed masses demand reparations. In the 1920s it was stocks, this time it was houses.

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