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(former)FormerSanDiegan
ParticipantI guess maybe Mr. Aguirre thinks this will score some re-election points.
I wonder what real purpose does he think this will serve ?
Why not also sue automotive finance companies so that they can’t repossess vehicles. Make it a repossession-free zone. Cool. Free-love, power to the people.
Nutjob.
Participantat these prices they are catching butterknives
Great analogy !
Participantat these prices they are catching butterknives
Great analogy !
Participantat these prices they are catching butterknives
Great analogy !
Participantat these prices they are catching butterknives
Great analogy !
Participantat these prices they are catching butterknives
Great analogy !
Participant92126_guy …
Your 1st is fixed for 5 years, then adjustable. Ever wonder what rate it goes to after 5 years ?
The “margin” and “index” define the rate to which it will adjust. Find your loan documents. You should be really curious as to what your loan rate will reset to since it could mean the difference between losing your home or keeping it.For example, some adjustable rate loans are tied to the 12-month LIBOR index (that’s the “index”) plus 2.5% (that’s the margin. The current value of this index is about 3.4%. Meaning that a loan based on this index and margin would reset to 3.4% + 2.5% = 5.9%. The LIBOR has varied between 1.2% and 5.8% over the past 5 years and tends to trail short-term treasury rates.
The fact that your 1st is IO for 10-years may buy you some valuable time.
Is the 2nd a fixed rate ? If not, it’s an adjustable at a fairly high margin (prime plus 3.65%). If your second is variable, I would try to concentrate on paying it down first.
Assuming the second is fixed rate, you currently pay 2400 (1st) plus 1100 (2nd) plus taxes and insurance.
If your 1st resets to 7% for example your payment would go up by $50 per month. Not a huge deal. If it resets to 8% your payment will go up by $400 per month (starting to feel some pain, but doable).
Participant92126_guy …
Your 1st is fixed for 5 years, then adjustable. Ever wonder what rate it goes to after 5 years ?
The “margin” and “index” define the rate to which it will adjust. Find your loan documents. You should be really curious as to what your loan rate will reset to since it could mean the difference between losing your home or keeping it.For example, some adjustable rate loans are tied to the 12-month LIBOR index (that’s the “index”) plus 2.5% (that’s the margin. The current value of this index is about 3.4%. Meaning that a loan based on this index and margin would reset to 3.4% + 2.5% = 5.9%. The LIBOR has varied between 1.2% and 5.8% over the past 5 years and tends to trail short-term treasury rates.
The fact that your 1st is IO for 10-years may buy you some valuable time.
Is the 2nd a fixed rate ? If not, it’s an adjustable at a fairly high margin (prime plus 3.65%). If your second is variable, I would try to concentrate on paying it down first.
Assuming the second is fixed rate, you currently pay 2400 (1st) plus 1100 (2nd) plus taxes and insurance.
If your 1st resets to 7% for example your payment would go up by $50 per month. Not a huge deal. If it resets to 8% your payment will go up by $400 per month (starting to feel some pain, but doable).
Participant92126_guy …
Your 1st is fixed for 5 years, then adjustable. Ever wonder what rate it goes to after 5 years ?
The “margin” and “index” define the rate to which it will adjust. Find your loan documents. You should be really curious as to what your loan rate will reset to since it could mean the difference between losing your home or keeping it.For example, some adjustable rate loans are tied to the 12-month LIBOR index (that’s the “index”) plus 2.5% (that’s the margin. The current value of this index is about 3.4%. Meaning that a loan based on this index and margin would reset to 3.4% + 2.5% = 5.9%. The LIBOR has varied between 1.2% and 5.8% over the past 5 years and tends to trail short-term treasury rates.
The fact that your 1st is IO for 10-years may buy you some valuable time.
Is the 2nd a fixed rate ? If not, it’s an adjustable at a fairly high margin (prime plus 3.65%). If your second is variable, I would try to concentrate on paying it down first.
Assuming the second is fixed rate, you currently pay 2400 (1st) plus 1100 (2nd) plus taxes and insurance.
If your 1st resets to 7% for example your payment would go up by $50 per month. Not a huge deal. If it resets to 8% your payment will go up by $400 per month (starting to feel some pain, but doable).
Participant92126_guy …
Your 1st is fixed for 5 years, then adjustable. Ever wonder what rate it goes to after 5 years ?
The “margin” and “index” define the rate to which it will adjust. Find your loan documents. You should be really curious as to what your loan rate will reset to since it could mean the difference between losing your home or keeping it.For example, some adjustable rate loans are tied to the 12-month LIBOR index (that’s the “index”) plus 2.5% (that’s the margin. The current value of this index is about 3.4%. Meaning that a loan based on this index and margin would reset to 3.4% + 2.5% = 5.9%. The LIBOR has varied between 1.2% and 5.8% over the past 5 years and tends to trail short-term treasury rates.
The fact that your 1st is IO for 10-years may buy you some valuable time.
Is the 2nd a fixed rate ? If not, it’s an adjustable at a fairly high margin (prime plus 3.65%). If your second is variable, I would try to concentrate on paying it down first.
Assuming the second is fixed rate, you currently pay 2400 (1st) plus 1100 (2nd) plus taxes and insurance.
If your 1st resets to 7% for example your payment would go up by $50 per month. Not a huge deal. If it resets to 8% your payment will go up by $400 per month (starting to feel some pain, but doable).
Participant92126_guy …
Your 1st is fixed for 5 years, then adjustable. Ever wonder what rate it goes to after 5 years ?
The “margin” and “index” define the rate to which it will adjust. Find your loan documents. You should be really curious as to what your loan rate will reset to since it could mean the difference between losing your home or keeping it.For example, some adjustable rate loans are tied to the 12-month LIBOR index (that’s the “index”) plus 2.5% (that’s the margin. The current value of this index is about 3.4%. Meaning that a loan based on this index and margin would reset to 3.4% + 2.5% = 5.9%. The LIBOR has varied between 1.2% and 5.8% over the past 5 years and tends to trail short-term treasury rates.
The fact that your 1st is IO for 10-years may buy you some valuable time.
Is the 2nd a fixed rate ? If not, it’s an adjustable at a fairly high margin (prime plus 3.65%). If your second is variable, I would try to concentrate on paying it down first.
Assuming the second is fixed rate, you currently pay 2400 (1st) plus 1100 (2nd) plus taxes and insurance.
If your 1st resets to 7% for example your payment would go up by $50 per month. Not a huge deal. If it resets to 8% your payment will go up by $400 per month (starting to feel some pain, but doable).
ParticipantAt $100 psf aren’t housing prices in Temecula essentially below the cost of building the structure ?
I wouldn’t really blame these knife catchers for buying properties at 30-40% off bubble peak prices. It seems to me that the folks “catching knives” right now in Temecula aren’t really sticking their necks out too far.ParticipantAt $100 psf aren’t housing prices in Temecula essentially below the cost of building the structure ?
I wouldn’t really blame these knife catchers for buying properties at 30-40% off bubble peak prices. It seems to me that the folks “catching knives” right now in Temecula aren’t really sticking their necks out too far.ParticipantAt $100 psf aren’t housing prices in Temecula essentially below the cost of building the structure ?
I wouldn’t really blame these knife catchers for buying properties at 30-40% off bubble peak prices. It seems to me that the folks “catching knives” right now in Temecula aren’t really sticking their necks out too far. -
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