Forum Replies Created
-
AuthorPosts
-
CarlsbadMtnBiker
ParticipantHere’s an idea.. All you bearish doomsdayers post your short plays and let’s see both how your short plays do, and also how well you put your $$ where your mouth is …
Post em’ for all to see…
Participant“Can’t you use debit cards for that? My local grocery doesn’t take CC, but they take Debit card. Between CC, Debit Card & ACH (Automatic electronic bill pay), I rarely write checks even, let alone pay cash.”
Same difference I believe .. your debit card gets authorization as a credt card (i.e. visa or mc) with the only difference being an immediate debit to your checking account.
ParticipantI’m with you on that FLU .. Good call..
I myself, get 1-5% cash back using the Discover card.
Participant“The dollar is going to be worthless pretty soon but it’s okay because this rate cut is for the big wigs to rake in some more dough while the stupid asses that are the American public buys more stuff on credit and drives themselves to financial ruin. But then again the government may turn socialist like in countries like Belgium, take from those who work hard and give to the bums who spend recklessly!”
stupid asses, .. bums .. e.g. American Public. humm…..you are casting a pretty big net there Kev..
Why are you so bitter?
ParticipantATM tip … (need debit visa or MC)
Get the free cash back at Costco, AM/PM (costs .45), most grocery stores, and other retailers with similiar free or very cheap cash back policies.
Usually a $40 or $60 limit, but w/ that gas, cup of coffee and weekly trip to CostCo/Grocery Store, I rarely pay ATM fees.
Participant“Will someone who has an ARM PLEASE get out your loan docs and post what your index and margin are.
Then post what your current rate is and what your next reset cap is.I’d like to find someone who is going to actually benefit the way some of you think.
We will see what the 1 year LIBOR does in the next few days.
Some people have margins that are 3-6% OVER the index.
Their reset rate is STILL BELOW THIS.I think another thing that you might not realize is that some indexes are lagging averages, and slow moving indexes, and are not going to change 50 bps anytime soon.
There are some assumptions being made about ARMS that just aren’t true.
ANYBODY ??”
Good Post HLS.. let’s see some live and real examples of this. I know many are tied to a 12 month rolling average of the index, so it is slow moving. I am also curious to see how many margins are over 3% ..ouch !!
I have no loan products that fall into this category to post though ..sorry.
Participant“I received exactly the same response from Feinstein today. I have been writing to all of my representatives lately and getting cookie cutter responses from all of them. I wonder if anyone reads anything we send them.”
Didn’t you guys learn that one in grade school when you or your 6th grade classmates wrote a state or federal politician?
Participant“RE still looks ugly, and as we have concluded in another thread, the rate cut will really only affect HELOCS and NEW arms, and it looks like it won’t help the 30 year fixed crowd, it might have made those fixed rates go higher. ”
The 30 yr old fixed crowd doesn’t need any help.
ParticipantExplain this then Contraman …
Fact: American productivity is #2 in the world. Only behind Norway. Hardly an easy life for most ….
Participantcoin … coin … coin … coin … my precious..my precious
remember the hobbit? I loved that movie. no, maybe it was ring .. ring .. ring .. ring. awww crap .. never mind.
Participant“Seriously don’t understand why anyone with $10k-$100K wouldn’t use them with the FDIC insurance.
Some of the “big banks” are paying like 3%…
https://bank.countrywide.com/Am I missing something ???”
No, unless you are under 30-40 yrs old and have less than $200K in your investment portfolio. In this case, having more than $10K (5% of your portfolio) in cash or equivalents is over-conservative for a longer investment horizon. I would say this may apply to many .. so I would say ……
Buy and hold baby (equities of course) !!!
CMB
ParticipantThanks HLS,
When you wrote (4 times): FED FUND RATE and PRIME RATE HAVE NOTHING TO DO WITH MORTGAGE RATES OR ARM RATES
I was simply disputing that exact statement to the letter.
Rebuttal required as your post was screaming it fairly loudly. You and others like FormerSD have provided the needed clarification to close the gap between us .. somewhat.CMB … aka.. Buy and hold Baby !!
Participant“I use Coutrywide Savingslink at 5.50%, and it’s FDIC insured. Probably works similar to ING.”
that is a very decent rate for straight savings HLS -(especially after today), no strings?, min. balance?, underlying mortgage requirements ? Not a teaser rate?
Participant“CMB, I think HLS repeatedly pointed out that the fed fund rate affects lending rates amongst lenders and credit card rates.”
yes, I know donald duck,[ that me smile.. 🙂 ]and agree, but his argument posted below is what I am disputing.
HLS wrote: FED FUND RATE and PRIME RATE HAVE NOTHING TO DO WITH MORTGAGE RATES OR ARM RATES
-
AuthorPosts