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(former)FormerSanDiegan
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.ParticipantComparison to Fed funds rate, while interesting, is not all that important. Compared to the current rate of inflation (4%) current rates at 6.5-7% are still lower now than a few years ago when they were at 5.5% (and then-inflation at 2%).
Real interest rates are currently pretty low.Adjustable rate mortgage do not offer enough of a break on interest rate to account for the risk of rising rates 1-5 years out.
ParticipantComparison to Fed funds rate, while interesting, is not all that important. Compared to the current rate of inflation (4%) current rates at 6.5-7% are still lower now than a few years ago when they were at 5.5% (and then-inflation at 2%).
Real interest rates are currently pretty low.Adjustable rate mortgage do not offer enough of a break on interest rate to account for the risk of rising rates 1-5 years out.
ParticipantComparison to Fed funds rate, while interesting, is not all that important. Compared to the current rate of inflation (4%) current rates at 6.5-7% are still lower now than a few years ago when they were at 5.5% (and then-inflation at 2%).
Real interest rates are currently pretty low.Adjustable rate mortgage do not offer enough of a break on interest rate to account for the risk of rising rates 1-5 years out.
ParticipantComparison to Fed funds rate, while interesting, is not all that important. Compared to the current rate of inflation (4%) current rates at 6.5-7% are still lower now than a few years ago when they were at 5.5% (and then-inflation at 2%).
Real interest rates are currently pretty low.Adjustable rate mortgage do not offer enough of a break on interest rate to account for the risk of rising rates 1-5 years out.
ParticipantComparison to Fed funds rate, while interesting, is not all that important. Compared to the current rate of inflation (4%) current rates at 6.5-7% are still lower now than a few years ago when they were at 5.5% (and then-inflation at 2%).
Real interest rates are currently pretty low.Adjustable rate mortgage do not offer enough of a break on interest rate to account for the risk of rising rates 1-5 years out.
Participant… our combined salaries have increased form 85k to 120k …
So, your salaries have increased by 40%. As long as you didn’t overstate your income by more than 40% you might be OK, right ?
Of course, this depends on your existing loan terms since refinance is not an option.
What is your reset date, margin and index ?
How much owed on the 1st ?
Is there a second ? if so, how much owed ?E.g. A loan based on 12-month LIBOR, with a 2.25% margin, would reset today at 5.5%.
Of course with 100% LTV you probably may not have the best terms on your loan(s).Participant… our combined salaries have increased form 85k to 120k …
So, your salaries have increased by 40%. As long as you didn’t overstate your income by more than 40% you might be OK, right ?
Of course, this depends on your existing loan terms since refinance is not an option.
What is your reset date, margin and index ?
How much owed on the 1st ?
Is there a second ? if so, how much owed ?E.g. A loan based on 12-month LIBOR, with a 2.25% margin, would reset today at 5.5%.
Of course with 100% LTV you probably may not have the best terms on your loan(s).Participant… our combined salaries have increased form 85k to 120k …
So, your salaries have increased by 40%. As long as you didn’t overstate your income by more than 40% you might be OK, right ?
Of course, this depends on your existing loan terms since refinance is not an option.
What is your reset date, margin and index ?
How much owed on the 1st ?
Is there a second ? if so, how much owed ?E.g. A loan based on 12-month LIBOR, with a 2.25% margin, would reset today at 5.5%.
Of course with 100% LTV you probably may not have the best terms on your loan(s).Participant… our combined salaries have increased form 85k to 120k …
So, your salaries have increased by 40%. As long as you didn’t overstate your income by more than 40% you might be OK, right ?
Of course, this depends on your existing loan terms since refinance is not an option.
What is your reset date, margin and index ?
How much owed on the 1st ?
Is there a second ? if so, how much owed ?E.g. A loan based on 12-month LIBOR, with a 2.25% margin, would reset today at 5.5%.
Of course with 100% LTV you probably may not have the best terms on your loan(s).Participant… our combined salaries have increased form 85k to 120k …
So, your salaries have increased by 40%. As long as you didn’t overstate your income by more than 40% you might be OK, right ?
Of course, this depends on your existing loan terms since refinance is not an option.
What is your reset date, margin and index ?
How much owed on the 1st ?
Is there a second ? if so, how much owed ?E.g. A loan based on 12-month LIBOR, with a 2.25% margin, would reset today at 5.5%.
Of course with 100% LTV you probably may not have the best terms on your loan(s).ParticipantWell guess what, I was talking to her last night and she is already fixating on buying more useless crap because now they’ll be out of debt with the help of the book I gave her. Huh?? AHHHHHHH!!!!!! Well as the saying goes “You can lead a horse to water…
Well, if that’s the motivation she needs to get started, then so be it …
Anyway, if she does it right and does the things it takes it will take months or a couple years to clear away any significant debt. Hopefully, the urge to spend frivolously will be replaced by these habits.ParticipantWell guess what, I was talking to her last night and she is already fixating on buying more useless crap because now they’ll be out of debt with the help of the book I gave her. Huh?? AHHHHHHH!!!!!! Well as the saying goes “You can lead a horse to water…
Well, if that’s the motivation she needs to get started, then so be it …
Anyway, if she does it right and does the things it takes it will take months or a couple years to clear away any significant debt. Hopefully, the urge to spend frivolously will be replaced by these habits.ParticipantWell guess what, I was talking to her last night and she is already fixating on buying more useless crap because now they’ll be out of debt with the help of the book I gave her. Huh?? AHHHHHHH!!!!!! Well as the saying goes “You can lead a horse to water…
Well, if that’s the motivation she needs to get started, then so be it …
Anyway, if she does it right and does the things it takes it will take months or a couple years to clear away any significant debt. Hopefully, the urge to spend frivolously will be replaced by these habits. -
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