- This topic has 40 replies, 8 voices, and was last updated 13 years, 1 month ago by
moneymaker.
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AuthorPosts
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March 2, 2010 at 10:17 AM #17133
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March 2, 2010 at 10:52 AM #519739
blahblahblah
ParticipantWhen this is appearing in the WSJ, we are about to move into phase 3 of this operation. In phase 3, the institutions holding MBSes are threatened with extinction when mortgage holders stop making payments. The well-connected of these institutions will soon receive bailouts, they’ll retain ownership of the properties, and either rent them back to the previous “owners” (who were really tenants all along) or sell them and pocket the cash. In effect, the US government will have paid to construct lots of housing, and then given it free of charge to financial institutions. Those same institutions will then collect rent in perpetuity or just sell the houses. It’s a win-win, just as long as you’re in the loop (which none of us are).
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March 2, 2010 at 10:52 AM #519879
blahblahblah
ParticipantWhen this is appearing in the WSJ, we are about to move into phase 3 of this operation. In phase 3, the institutions holding MBSes are threatened with extinction when mortgage holders stop making payments. The well-connected of these institutions will soon receive bailouts, they’ll retain ownership of the properties, and either rent them back to the previous “owners” (who were really tenants all along) or sell them and pocket the cash. In effect, the US government will have paid to construct lots of housing, and then given it free of charge to financial institutions. Those same institutions will then collect rent in perpetuity or just sell the houses. It’s a win-win, just as long as you’re in the loop (which none of us are).
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March 2, 2010 at 10:52 AM #520313
blahblahblah
ParticipantWhen this is appearing in the WSJ, we are about to move into phase 3 of this operation. In phase 3, the institutions holding MBSes are threatened with extinction when mortgage holders stop making payments. The well-connected of these institutions will soon receive bailouts, they’ll retain ownership of the properties, and either rent them back to the previous “owners” (who were really tenants all along) or sell them and pocket the cash. In effect, the US government will have paid to construct lots of housing, and then given it free of charge to financial institutions. Those same institutions will then collect rent in perpetuity or just sell the houses. It’s a win-win, just as long as you’re in the loop (which none of us are).
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March 2, 2010 at 10:52 AM #520404
blahblahblah
ParticipantWhen this is appearing in the WSJ, we are about to move into phase 3 of this operation. In phase 3, the institutions holding MBSes are threatened with extinction when mortgage holders stop making payments. The well-connected of these institutions will soon receive bailouts, they’ll retain ownership of the properties, and either rent them back to the previous “owners” (who were really tenants all along) or sell them and pocket the cash. In effect, the US government will have paid to construct lots of housing, and then given it free of charge to financial institutions. Those same institutions will then collect rent in perpetuity or just sell the houses. It’s a win-win, just as long as you’re in the loop (which none of us are).
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March 2, 2010 at 10:52 AM #520661
blahblahblah
ParticipantWhen this is appearing in the WSJ, we are about to move into phase 3 of this operation. In phase 3, the institutions holding MBSes are threatened with extinction when mortgage holders stop making payments. The well-connected of these institutions will soon receive bailouts, they’ll retain ownership of the properties, and either rent them back to the previous “owners” (who were really tenants all along) or sell them and pocket the cash. In effect, the US government will have paid to construct lots of housing, and then given it free of charge to financial institutions. Those same institutions will then collect rent in perpetuity or just sell the houses. It’s a win-win, just as long as you’re in the loop (which none of us are).
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March 2, 2010 at 1:34 PM #519802
Rich Toscano
KeymasterI liked Ramsey’s version (from 1/09) better:
“Why Be a Nation of Mortgage Slaves”
http://online.wsj.com/article/SB123336541474235541.htmlRich
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March 2, 2010 at 1:34 PM #519943
Rich Toscano
KeymasterI liked Ramsey’s version (from 1/09) better:
“Why Be a Nation of Mortgage Slaves”
http://online.wsj.com/article/SB123336541474235541.htmlRich
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March 2, 2010 at 1:34 PM #520376
Rich Toscano
KeymasterI liked Ramsey’s version (from 1/09) better:
“Why Be a Nation of Mortgage Slaves”
http://online.wsj.com/article/SB123336541474235541.htmlRich
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March 2, 2010 at 1:34 PM #520467
Rich Toscano
KeymasterI liked Ramsey’s version (from 1/09) better:
“Why Be a Nation of Mortgage Slaves”
http://online.wsj.com/article/SB123336541474235541.htmlRich
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March 2, 2010 at 1:34 PM #520724
Rich Toscano
KeymasterI liked Ramsey’s version (from 1/09) better:
“Why Be a Nation of Mortgage Slaves”
http://online.wsj.com/article/SB123336541474235541.htmlRich
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March 2, 2010 at 3:49 PM #519729
Nor-LA-SD-guy
ParticipantNot every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.
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March 2, 2010 at 4:24 PM #519872
svelte
Participant[quote=Nor-LA-SD-guy]Not every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.[/quote]
Didn’t you already say this in the “100,000 living for free” thread?
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March 2, 2010 at 7:43 PM #519946
desmond
ParticipantDidn’t you already say this in the “100,000 living for free” thread?
Funny Svelte, I bet TV cheerleader would tell you to stay on the beach during a sunami.
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March 2, 2010 at 7:43 PM #520087
desmond
ParticipantDidn’t you already say this in the “100,000 living for free” thread?
Funny Svelte, I bet TV cheerleader would tell you to stay on the beach during a sunami.
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March 2, 2010 at 7:43 PM #520521
desmond
ParticipantDidn’t you already say this in the “100,000 living for free” thread?
Funny Svelte, I bet TV cheerleader would tell you to stay on the beach during a sunami.
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March 2, 2010 at 7:43 PM #520613
desmond
ParticipantDidn’t you already say this in the “100,000 living for free” thread?
Funny Svelte, I bet TV cheerleader would tell you to stay on the beach during a sunami.
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March 2, 2010 at 7:43 PM #520869
desmond
ParticipantDidn’t you already say this in the “100,000 living for free” thread?
Funny Svelte, I bet TV cheerleader would tell you to stay on the beach during a sunami.
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March 2, 2010 at 4:24 PM #520012
svelte
Participant[quote=Nor-LA-SD-guy]Not every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.[/quote]
Didn’t you already say this in the “100,000 living for free” thread?
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March 2, 2010 at 4:24 PM #520446
svelte
Participant[quote=Nor-LA-SD-guy]Not every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.[/quote]
Didn’t you already say this in the “100,000 living for free” thread?
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March 2, 2010 at 4:24 PM #520537
svelte
Participant[quote=Nor-LA-SD-guy]Not every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.[/quote]
Didn’t you already say this in the “100,000 living for free” thread?
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March 2, 2010 at 4:24 PM #520794
svelte
Participant[quote=Nor-LA-SD-guy]Not every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.[/quote]
Didn’t you already say this in the “100,000 living for free” thread?
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March 2, 2010 at 3:49 PM #519869
Nor-LA-SD-guy
ParticipantNot every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.
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March 2, 2010 at 3:49 PM #520303
Nor-LA-SD-guy
ParticipantNot every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.
-
March 2, 2010 at 3:49 PM #520394
Nor-LA-SD-guy
ParticipantNot every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.
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March 2, 2010 at 3:49 PM #520651
Nor-LA-SD-guy
ParticipantNot every situation is the same,
I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).
For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.
For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.
I said are you planning to live the north L.A. area for the next 10 years ???
He said yes.
I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.
But what ever you want to believe.
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March 2, 2010 at 4:49 PM #519897
Nor-LA-SD-guy
ParticipantYes, but it applies to both .
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March 2, 2010 at 7:14 PM #519930
danielwis
ParticipantThis is a bullish sign iMO.
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March 2, 2010 at 9:22 PM #519976
moneymaker
ParticipantIt’s a tough call for anybody in the situation, Glad I’m not, will say it is luck more than anything though as I too was “stupid” enough to make more than a few offers on those over priced houses, lucky for me someone was always more fool hardy. I would say “love it or leave it”. It must suck when the new person on the block is paying a mortgage that is half of what you are paying. I’m not the most financially savvy person but I’m learning.
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March 2, 2010 at 9:22 PM #520117
moneymaker
ParticipantIt’s a tough call for anybody in the situation, Glad I’m not, will say it is luck more than anything though as I too was “stupid” enough to make more than a few offers on those over priced houses, lucky for me someone was always more fool hardy. I would say “love it or leave it”. It must suck when the new person on the block is paying a mortgage that is half of what you are paying. I’m not the most financially savvy person but I’m learning.
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March 2, 2010 at 9:22 PM #520551
moneymaker
ParticipantIt’s a tough call for anybody in the situation, Glad I’m not, will say it is luck more than anything though as I too was “stupid” enough to make more than a few offers on those over priced houses, lucky for me someone was always more fool hardy. I would say “love it or leave it”. It must suck when the new person on the block is paying a mortgage that is half of what you are paying. I’m not the most financially savvy person but I’m learning.
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March 2, 2010 at 9:22 PM #520643
moneymaker
ParticipantIt’s a tough call for anybody in the situation, Glad I’m not, will say it is luck more than anything though as I too was “stupid” enough to make more than a few offers on those over priced houses, lucky for me someone was always more fool hardy. I would say “love it or leave it”. It must suck when the new person on the block is paying a mortgage that is half of what you are paying. I’m not the most financially savvy person but I’m learning.
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March 2, 2010 at 9:22 PM #520899
moneymaker
ParticipantIt’s a tough call for anybody in the situation, Glad I’m not, will say it is luck more than anything though as I too was “stupid” enough to make more than a few offers on those over priced houses, lucky for me someone was always more fool hardy. I would say “love it or leave it”. It must suck when the new person on the block is paying a mortgage that is half of what you are paying. I’m not the most financially savvy person but I’m learning.
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March 2, 2010 at 7:14 PM #520072
danielwis
ParticipantThis is a bullish sign iMO.
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March 2, 2010 at 7:14 PM #520506
danielwis
ParticipantThis is a bullish sign iMO.
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March 2, 2010 at 7:14 PM #520598
danielwis
ParticipantThis is a bullish sign iMO.
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March 2, 2010 at 7:14 PM #520854
danielwis
ParticipantThis is a bullish sign iMO.
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March 2, 2010 at 4:49 PM #520037
Nor-LA-SD-guy
ParticipantYes, but it applies to both .
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March 2, 2010 at 4:49 PM #520471
Nor-LA-SD-guy
ParticipantYes, but it applies to both .
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March 2, 2010 at 4:49 PM #520562
Nor-LA-SD-guy
ParticipantYes, but it applies to both .
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March 2, 2010 at 4:49 PM #520819
Nor-LA-SD-guy
ParticipantYes, but it applies to both .
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