[bsrsharma]

Excellent article. Amazing for a Church publication, that too an unknown denomination. (I read it earlier, liked it, but hesitated to link/post on seeing that Copyright … God )

I saw that link on the Church; can’t seem to understand what it stands for or any distinct doctrine

[bsrsharma]

Still, something is going on. La Costa is pretty good quality for the bank to develop cold feet so soon. Also, What may be the story behind the Escondido house? Looks like they dropped price by $150K in a weeks time. That much fall in so short a time on fairly modest homes means something.

[bsrsharma]

The La Costa & Escondido homes are starting to show real distress. 200K+ loss in two years probably starts to create depression in the neighborhoods catalyzing further falls. They are also interesting in crossing the $417K divide.

[bsrsharma]

corporation gives him $15 million mortgage to buy a house?

The corporation holds the title, executive is the borrower.

 100% financing. Two years later, the board votes to forgive the debt.

The Corp. still owns the house. Is there anything in the proposed bill where the borrower gets to keep the house?

 Nice tax free compensation. Win, win for the executive and the corporation.

How? The executive paid mortgage, right? The Corp paid for the house and keeps the house.

Why go through all this roundabout? The Corp can buy the house outright and "rent" it to the exec for a small rent. Kind of like White House where rent  is 0. Trust me, the Corp & Exec have loopholes broad enough to sail an oil tanker through. This is really small potato stuff.

[bsrsharma]

I don’t have a problem as long as it is only for non-recourse loans. i.e. no HELOC/Re-fi hanky panky. Plain homer buyers who did a stupid transaction deserve tax forgiveness. If needed, this can be combined with bankruptcy law to prevent any asset siphon off cases.

The simpler folks deserve sympathy for another reason. Think of all those multi-million $ homes (like the ones that fell in La Jolla); when they go upside down, don’t think the fat cats get creamed. They would have corporatized/trustified/off-shored all their assets so that they win any appreciation and let the lender eat any loss. Hence, letting fat cats unscathed and punishing Joe (& Jill) 6P is unfair and borders on unethical/immoral.

[bsrsharma]

my male husband

That phrase alone is worth a chuckle!

[bsrsharma]

Should I be alarmed?

Fortunately not. The quality of BLS statistics is so poor that, any change of less than 50% either way is statistically insignificant. (Time to worry if that difference is, say, 100,000 or total exceeds 400,000)

[bsrsharma]

how you properly "structure" your assets to be able to walk away from something like this?

Most of the La Jolla kind professionals (doctors, lawyers, businessmen etc.,) have a Corporation (regular, professional, S corp, LLC etc,) Most of the assets can then be held by the corporation. Another option is to set up Trusts to hold assets. That way, they can remain "Asset Lite" and reduce legal liability. It can probably be inverted too i.e. the house is held by a "Asset Lite" Corporation. There are probably a million ways to keep your money safe when one is rich.

[bsrsharma]

If anyone remembers what's it's like when a bank goes belly-up and you have to deal with the feds to get your insured deposit back? – please share.

FDIC issues checks usually within 48-72 hours after a bank failure. A bank failure is when either a bank can't pay a depositor or there is a high probability it can't pay. It is a smooth transaction – the only caveat being you get only the insured amount.

For those that don't know it can take upwards of 6 months after a bank is shut down to get your money back from the feds – in addition you only get the principle – all interest is forfeited.

Not true. You get what you are owed, subject to insurance limits. I am not sure if FDIC will give you interest not already in your account. They send out only a handful of regulators and they can't run every banks computer system to calculate up to date interest. Besides, they sometimes keep computer systems for forensic evidence and wouldn't touch it even if they knew how to run the system.

BTW, I opened an account & made a deposit for 5.5% savings. I did some work for RTC during S&L crisis.

[bsrsharma]

this landslide will hurt La Jolla housing prices.

At least if I am the potential buyer. How can anyone ignore such dramatic evidence about the soil conditions? Even if a potential buyer wants to rationalize the events by saying "it won't happen here", what about the lender who may loan a million or more? Can he tell his bosses "it won't happen There"?

Someone correct me if I am wrong – For all those million $ homes that went down, I think it is the Lender who will eat the losses. Not insurance, not borrower, who may decide to walk (may be, with a slight hurt to his credit). If he has not refinanced or HELOCd, it may be a non-recourse loan and he may walk away with even multi-million $ assets, at least if he has properly structured his assets.

[bsrsharma]

Probably could be had for 1.1

If you are serious, you may get lucky @ 0.8.

[bsrsharma]

Can someone please explain this Czar thing to me?

1. Are these Executive positions or Judicial?
2. Do they need Congressional approval/oversight? Senate hearings/confirmation?

I am not sure if these appointments are Constitutionally Kosher if 2 is not true.

Why is there a hunger for these Czars? A subconscious desire for a (dictatorial) Monarch to conquer the (irritating) Checks and Balances of the Constitutional strictures?

[bsrsharma]

Is this near the Mt. Soledad with a cross that comes up in the news often (legal dispute)?

[bsrsharma]

For info on landslide risks, see

http://www.consrv.ca.gov/cgs/rghm/landslides/ls_index.htm#SanDiego

[bsrsharma]

Buy Vs. Lease

———————–

What am I doing wrong?

Okay, I’m tired of beating around the bush. I’m a beautiful
(spectacularly beautiful) 25 year old girl. I’m articulate and classy. I’m not from New York. I’m looking to get married to a guy who makes at least half a million a year. I know how that sounds, but keep in mind that a million a year is middle class in New York City, so I don’t think
I’m overreaching at all.

Are there any guys who make 500K or more on this board? Any wives? Could you send me some tips? I dated a business man who makes average around 200 – 250. But that’s where I seem to hit a roadblock. 250,000 won’t get me to central park west. I know a woman in my yoga class who was married to an investment banker and lives in Tribeca, and she’s not as pretty as I am, nor is she a great genius. So what is she doing right? How do I get to her level?

Here are my questions specifically:

– Where do you single rich men hang out? Give me specifics- bars, restaurants, gyms

-What are you looking for in a mate? Be honest guys, you won’t hurt my feelings

-Is there an age range I should be targeting (I’m 25)?

– Why are some of the women living lavish lifestyles on the upper east side so plain? I’ve seen really ‘plain jane’ boring types who have nothing to offer married to incredibly wealthy guys. I’ve seen drop dead gorgeous girls in singles bars in the east village. What’s the story there?

– Jobs I should look out for? Everyone knows – lawyer, investment banker, doctor. How much do those guys really make? And where do they hang out? Where do the hedge fund guys hang out?

– How you decide marriage vs. just a girlfriend? I am looking for MARRIAGE ONLY

Please hold your insults – I’m putting myself out there in an honest way. Most beautiful women are superficial; at least I’m being up front about it. I wouldn’t be searching for these kind of guys if I wasn’t able to match them – in looks, culture, sophistication, and keeping a nice home and hearth.

it’s NOT ok to contact this poster with services or other commercial interests

And here is the response,

I read your posting with great interest and have thought meaningfully about your dilemma. I offer the following analysis of your predicament.

Firstly, I’m not wasting your time, I qualify as a guy who fits your bill; that is I make more than $500K per year. That said here’s how I see it.

Your offer, from the prospective of a guy like me, is plain and simple a crappy business deal. Here’s why. Cutting through all the B.S., what you suggest is a simple trade: you bring your looks to the party and I bring my money. Fine, simple. But here’s the rub, your looks will fade and my money will likely continue into perpetuity…in fact, it is very likely that my income increases but it is an absolute certainty that you won’t be getting any more beautiful!

So, in economic terms you are a depreciating asset and I am an earning asset. Not only are you a depreciating asset, your depreciation accelerates! Let me explain, you’re 25 now and will likely stay pretty hot for the next 5 years, but less so each year. Then the fade begins in
earnest. By 35 stick a fork in you!

So in Wall Street terms, we would call you a trading position, not a buy and hold…hence the rub…marriage. It doesn’t make good business sense to “buy you” (which is what you’re asking) so I’d rather lease. In case you think I’m being cruel, I would say the following. If my money were
to go away, so would you, so when your beauty fades I need an out. It’s as simple as that. So a deal that makes sense is dating, not marriage.

Separately, I was taught early in my career about efficient markets. So, I wonder why a girl as “articulate, classy and spectacularly beautiful”as you has been unable to find your sugar daddy. I find it jard to believe that if you are as gorgeous as you say you are that the $500K hasn’t found you, if not only for a tryout.

By the way, you could always find a way to make your own money and then we wouldn’t need to have this difficult conversation.

With all that said, I must say you’re going about it the right way. Classic “pump and dump.”

I hope this is helpful, and if you want to enter into some sort of lease, let me know.

[Author]

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