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Eugene
ParticipantParticipantThey are okay. Nice and user friendly. Fees are a bit steep IMHO (unless you’re trading tens of thousands of dollars per transaction).
If you’re an active and experienced trader, there’s a relatively little-known brokerage called Interactive Brokers. They have very nice commissions (0.5 cents per share for U.S. stocks, 70 cents per contract for U.S. options) and you can even trade directly on foreign exchanges.
The catch is, they are nowhere near as user-friendly as TD Ameritrade or ETrade, and you have to pay extra for access to market data.
ParticipantThey are okay. Nice and user friendly. Fees are a bit steep IMHO (unless you’re trading tens of thousands of dollars per transaction).
If you’re an active and experienced trader, there’s a relatively little-known brokerage called Interactive Brokers. They have very nice commissions (0.5 cents per share for U.S. stocks, 70 cents per contract for U.S. options) and you can even trade directly on foreign exchanges.
The catch is, they are nowhere near as user-friendly as TD Ameritrade or ETrade, and you have to pay extra for access to market data.
ParticipantThey are okay. Nice and user friendly. Fees are a bit steep IMHO (unless you’re trading tens of thousands of dollars per transaction).
If you’re an active and experienced trader, there’s a relatively little-known brokerage called Interactive Brokers. They have very nice commissions (0.5 cents per share for U.S. stocks, 70 cents per contract for U.S. options) and you can even trade directly on foreign exchanges.
The catch is, they are nowhere near as user-friendly as TD Ameritrade or ETrade, and you have to pay extra for access to market data.
ParticipantThey are okay. Nice and user friendly. Fees are a bit steep IMHO (unless you’re trading tens of thousands of dollars per transaction).
If you’re an active and experienced trader, there’s a relatively little-known brokerage called Interactive Brokers. They have very nice commissions (0.5 cents per share for U.S. stocks, 70 cents per contract for U.S. options) and you can even trade directly on foreign exchanges.
The catch is, they are nowhere near as user-friendly as TD Ameritrade or ETrade, and you have to pay extra for access to market data.
ParticipantThey are okay. Nice and user friendly. Fees are a bit steep IMHO (unless you’re trading tens of thousands of dollars per transaction).
If you’re an active and experienced trader, there’s a relatively little-known brokerage called Interactive Brokers. They have very nice commissions (0.5 cents per share for U.S. stocks, 70 cents per contract for U.S. options) and you can even trade directly on foreign exchanges.
The catch is, they are nowhere near as user-friendly as TD Ameritrade or ETrade, and you have to pay extra for access to market data.
ParticipantI am not a lawyer but:
* His lender is highly unlikely to find out unless someone specifically tips him off
* If his lender does find out and decide to punish the guy, they can demand that he returns his loan immediately. It’s called “calling the loan”. If he does not have enough cash to pay off the mortgage, the lender can go after his home, other assets, and possibly force him into bankruptcy.
* Worst case scenario, they can report him to the FBI and your friend could end up in jail. I think it’s unlikely to happen and he could defend himself by blaming the mortgage broker, but there is this possibility.ParticipantI am not a lawyer but:
* His lender is highly unlikely to find out unless someone specifically tips him off
* If his lender does find out and decide to punish the guy, they can demand that he returns his loan immediately. It’s called “calling the loan”. If he does not have enough cash to pay off the mortgage, the lender can go after his home, other assets, and possibly force him into bankruptcy.
* Worst case scenario, they can report him to the FBI and your friend could end up in jail. I think it’s unlikely to happen and he could defend himself by blaming the mortgage broker, but there is this possibility.ParticipantI am not a lawyer but:
* His lender is highly unlikely to find out unless someone specifically tips him off
* If his lender does find out and decide to punish the guy, they can demand that he returns his loan immediately. It’s called “calling the loan”. If he does not have enough cash to pay off the mortgage, the lender can go after his home, other assets, and possibly force him into bankruptcy.
* Worst case scenario, they can report him to the FBI and your friend could end up in jail. I think it’s unlikely to happen and he could defend himself by blaming the mortgage broker, but there is this possibility.ParticipantI am not a lawyer but:
* His lender is highly unlikely to find out unless someone specifically tips him off
* If his lender does find out and decide to punish the guy, they can demand that he returns his loan immediately. It’s called “calling the loan”. If he does not have enough cash to pay off the mortgage, the lender can go after his home, other assets, and possibly force him into bankruptcy.
* Worst case scenario, they can report him to the FBI and your friend could end up in jail. I think it’s unlikely to happen and he could defend himself by blaming the mortgage broker, but there is this possibility.ParticipantI am not a lawyer but:
* His lender is highly unlikely to find out unless someone specifically tips him off
* If his lender does find out and decide to punish the guy, they can demand that he returns his loan immediately. It’s called “calling the loan”. If he does not have enough cash to pay off the mortgage, the lender can go after his home, other assets, and possibly force him into bankruptcy.
* Worst case scenario, they can report him to the FBI and your friend could end up in jail. I think it’s unlikely to happen and he could defend himself by blaming the mortgage broker, but there is this possibility.ParticipantRegarding the REO on Mesa Norte
It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.
I’d expect a little more consideration to be put into building a 2 million home.
ParticipantRegarding the REO on Mesa Norte
It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.
I’d expect a little more consideration to be put into building a 2 million home.
ParticipantRegarding the REO on Mesa Norte
It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.
I’d expect a little more consideration to be put into building a 2 million home.
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