Forum Replies Created
-
AuthorPosts
-
July 23, 2007 at 1:33 PM in reply to: NEED your input, About to buy a new Pienza home in 4S Ranch #67203
drunkle
Participant10k is outside the limit of small claims…
would it make sense for buyeronhold to aggressively pursue her deposit first, on the basis of misleading/fraudulent lending practices? the professional advice of their loan advisor to take a long term interest only mortgage seems founded on the assumption of a RE rebound, one that cannot be guaranteed or even suggested on the basis of any historical example; there’s never been a housing bubble of this magnitude before.
by pursuing the deposit first, you show that you are not interested in completing the purchase at all, you are not using the court as a recourse for gambling losses and you are proactively working to extricate yourself from a situation that you were led into under false pretenses.
while a court case could take a long time to work through, longer than the escrow, you can drop the case at a later time if the contingency clause kicks in. otherwise, you have the wheels in motion to fight for the deposit, you have a timeline showing that you were not passively hoping for the best and your position in court will be consistent.
alternatively… put your house up on the market under the same assumptions as the builder you’re buying from; that the market is not going down, that the market is rebounding, that your house is worth the same as april comps with payments made under a no interest mort. in other words, guarantee the failure of your sale.
side note/obligatory ribbing: you’re the one who pushed for a potentially disasterous decision. you dont find too often individuals who made a mistake come looking for answers; seems they usually maintain their position in a pigheaded manner. so it’s good that you’re learning, good that you’re not bullheaded about it. but at the same time, listening to your spouse, researching things together and then coming to a decision *before* signing on the dotted line would have avoided the situation, avoided the tension and avoided the outcome of being in an unbalanced relationship. your opinion is now suspect, perhaps even to yourself. that can’t be a good thing…
July 23, 2007 at 1:33 PM in reply to: NEED your input, About to buy a new Pienza home in 4S Ranch #67268Participant10k is outside the limit of small claims…
would it make sense for buyeronhold to aggressively pursue her deposit first, on the basis of misleading/fraudulent lending practices? the professional advice of their loan advisor to take a long term interest only mortgage seems founded on the assumption of a RE rebound, one that cannot be guaranteed or even suggested on the basis of any historical example; there’s never been a housing bubble of this magnitude before.
by pursuing the deposit first, you show that you are not interested in completing the purchase at all, you are not using the court as a recourse for gambling losses and you are proactively working to extricate yourself from a situation that you were led into under false pretenses.
while a court case could take a long time to work through, longer than the escrow, you can drop the case at a later time if the contingency clause kicks in. otherwise, you have the wheels in motion to fight for the deposit, you have a timeline showing that you were not passively hoping for the best and your position in court will be consistent.
alternatively… put your house up on the market under the same assumptions as the builder you’re buying from; that the market is not going down, that the market is rebounding, that your house is worth the same as april comps with payments made under a no interest mort. in other words, guarantee the failure of your sale.
side note/obligatory ribbing: you’re the one who pushed for a potentially disasterous decision. you dont find too often individuals who made a mistake come looking for answers; seems they usually maintain their position in a pigheaded manner. so it’s good that you’re learning, good that you’re not bullheaded about it. but at the same time, listening to your spouse, researching things together and then coming to a decision *before* signing on the dotted line would have avoided the situation, avoided the tension and avoided the outcome of being in an unbalanced relationship. your opinion is now suspect, perhaps even to yourself. that can’t be a good thing…
Participantbecause the stock market moves on his words and actions, i figure he’s going to keep the public in the dark at all cost. personal associates, on the other hand…
a question which arises from his deferment to the administration; how much of greenspan’s policy was independant and how much as a result of administration influence? he lowered rates to “avoid” a recession, but is that even fed bank responsibility?
Participantbecause the stock market moves on his words and actions, i figure he’s going to keep the public in the dark at all cost. personal associates, on the other hand…
a question which arises from his deferment to the administration; how much of greenspan’s policy was independant and how much as a result of administration influence? he lowered rates to “avoid” a recession, but is that even fed bank responsibility?
Participantrusty:
no, it was an honest q… forums are making me lazy, cant even bother to wiki before posting… thanks for the answer. next q: why are they called brokers? wouldn’t RE transaction supervisor, head cheese, boss man or something more descriptive be… more descriptive… as it is, the broker just makes you broke…
Participantrusty:
no, it was an honest q… forums are making me lazy, cant even bother to wiki before posting… thanks for the answer. next q: why are they called brokers? wouldn’t RE transaction supervisor, head cheese, boss man or something more descriptive be… more descriptive… as it is, the broker just makes you broke…
July 20, 2007 at 5:08 PM in reply to: Is the liquidity tide finally rushing out of Wall Street? #66779Participantflu:
i knew i shouldn’t have said “normal”. rather, sustainable.
i dont agree with your comment that banks/institutions wont let the market crumble. the markets slid a long way from 2000 to around 2003; something like 30% drop. the way the market is moving now, especially with all the evil shadows lurking, seems totally illogical. as if another bubble is blowing.
dollar value… if i have a ton of aussie dollars and i want to invest, would it be smart to buy dollar denominated stocks? is there such a thing as currency denomination in stock markets? some one some where noted zimbabwe’s massive stock run due to their currency devaluation…
how about if the trillions of bad mortgage loans which ultimately did end up in someone’s pocket is now being invested in stocks since RE flipping is over?
and, the slide in the markets from 2000 coincides with the run up in gold… there’s a hell of alot of money flowing everywhere…
July 20, 2007 at 5:08 PM in reply to: Is the liquidity tide finally rushing out of Wall Street? #66844Participantflu:
i knew i shouldn’t have said “normal”. rather, sustainable.
i dont agree with your comment that banks/institutions wont let the market crumble. the markets slid a long way from 2000 to around 2003; something like 30% drop. the way the market is moving now, especially with all the evil shadows lurking, seems totally illogical. as if another bubble is blowing.
dollar value… if i have a ton of aussie dollars and i want to invest, would it be smart to buy dollar denominated stocks? is there such a thing as currency denomination in stock markets? some one some where noted zimbabwe’s massive stock run due to their currency devaluation…
how about if the trillions of bad mortgage loans which ultimately did end up in someone’s pocket is now being invested in stocks since RE flipping is over?
and, the slide in the markets from 2000 coincides with the run up in gold… there’s a hell of alot of money flowing everywhere…
July 20, 2007 at 4:46 PM in reply to: Is the liquidity tide finally rushing out of Wall Street? #66777Participant4 months is not year to date. regardless, given a historical average of 10% growth rate, the markets have hit their average. where to now…
July 20, 2007 at 4:46 PM in reply to: Is the liquidity tide finally rushing out of Wall Street? #66842Participant4 months is not year to date. regardless, given a historical average of 10% growth rate, the markets have hit their average. where to now…
Participantwhat exactly is a broker? i was under the impression that agents were pretty much self contained…
Participantwhat exactly is a broker? i was under the impression that agents were pretty much self contained…
July 19, 2007 at 7:04 PM in reply to: Is the liquidity tide finally rushing out of Wall Street? #66616Participantthe stock market has done what, 20% in the past 4 months? is it on track to do 40% on the year? is that normal?
July 19, 2007 at 7:04 PM in reply to: Is the liquidity tide finally rushing out of Wall Street? #66680Participantthe stock market has done what, 20% in the past 4 months? is it on track to do 40% on the year? is that normal?
-
AuthorPosts
