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HLS
ParticipantThat’s a ridiculous statement that I don’t have time to refute right now.
ParticipantThat’s a ridiculous statement that I don’t have time to refute right now.
ParticipantThat’s a ridiculous statement that I don’t have time to refute right now.
ParticipantCourage ???
To me it’s just honesty & truth.
I have a different attitude towards all this nonsense. It’s just money. It’s gambling in the pusuit of greed, not happiness. So is the stock market. People will disagree with me until the next crash.
Ya win some, ya lose some.
If I had found this board sooner, I woulda been here. I wasn’t hiding.Life’s too short. Ya gotta believe in something.
I believe that I need some lobster and beer, so I’m going to Mexico for a break.Loans are still funding, the sun is shining, tenants are paying their rent, and life is good.
We’re all in the same boat. Some have suites, some have balconies, some have oceanviews and some have inside cabins.
If the ship sinks, we’re all going down. 😉
PS: THANKS JWM
ParticipantCourage ???
To me it’s just honesty & truth.
I have a different attitude towards all this nonsense. It’s just money. It’s gambling in the pusuit of greed, not happiness. So is the stock market. People will disagree with me until the next crash.
Ya win some, ya lose some.
If I had found this board sooner, I woulda been here. I wasn’t hiding.Life’s too short. Ya gotta believe in something.
I believe that I need some lobster and beer, so I’m going to Mexico for a break.Loans are still funding, the sun is shining, tenants are paying their rent, and life is good.
We’re all in the same boat. Some have suites, some have balconies, some have oceanviews and some have inside cabins.
If the ship sinks, we’re all going down. 😉
PS: THANKS JWM
ParticipantCourage ???
To me it’s just honesty & truth.
I have a different attitude towards all this nonsense. It’s just money. It’s gambling in the pusuit of greed, not happiness. So is the stock market. People will disagree with me until the next crash.
Ya win some, ya lose some.
If I had found this board sooner, I woulda been here. I wasn’t hiding.Life’s too short. Ya gotta believe in something.
I believe that I need some lobster and beer, so I’m going to Mexico for a break.Loans are still funding, the sun is shining, tenants are paying their rent, and life is good.
We’re all in the same boat. Some have suites, some have balconies, some have oceanviews and some have inside cabins.
If the ship sinks, we’re all going down. 😉
PS: THANKS JWM
ParticipantDefinitely not arguing with you..
I’m in the loan origiantion biz. I see some sad cases.
It’s simply too late to help them.
The crying on the “boards” IS an indication of the mess.My guess is that at least 80%-90% of people bought property before 2003. They have decent loans and plenty of equity IF they didn’t use their home as an ATM machine.
The problems are for people who bought since 2005, with ARMS and those with little or no equity. It’s prob less than 10% of homes, but will get 99% of the media attention.
It’s going to be a mess, I’ve been saying it for years.
Most people don’t day trade their homes. Many people live in homes that are worth 5x-10x (or more) what they paid, and aren’t moving. It’s a crappy return on their asset, but don’t care.
What many people don’t realize is that even with a pile of equity in their home, they cannot get to it because they don’t qualify for a decent loan.
Some people are making a huge financial mistake by wanting their mortgage paid off sooner or completely.
ParticipantDefinitely not arguing with you..
I’m in the loan origiantion biz. I see some sad cases.
It’s simply too late to help them.
The crying on the “boards” IS an indication of the mess.My guess is that at least 80%-90% of people bought property before 2003. They have decent loans and plenty of equity IF they didn’t use their home as an ATM machine.
The problems are for people who bought since 2005, with ARMS and those with little or no equity. It’s prob less than 10% of homes, but will get 99% of the media attention.
It’s going to be a mess, I’ve been saying it for years.
Most people don’t day trade their homes. Many people live in homes that are worth 5x-10x (or more) what they paid, and aren’t moving. It’s a crappy return on their asset, but don’t care.
What many people don’t realize is that even with a pile of equity in their home, they cannot get to it because they don’t qualify for a decent loan.
Some people are making a huge financial mistake by wanting their mortgage paid off sooner or completely.
ParticipantDefinitely not arguing with you..
I’m in the loan origiantion biz. I see some sad cases.
It’s simply too late to help them.
The crying on the “boards” IS an indication of the mess.My guess is that at least 80%-90% of people bought property before 2003. They have decent loans and plenty of equity IF they didn’t use their home as an ATM machine.
The problems are for people who bought since 2005, with ARMS and those with little or no equity. It’s prob less than 10% of homes, but will get 99% of the media attention.
It’s going to be a mess, I’ve been saying it for years.
Most people don’t day trade their homes. Many people live in homes that are worth 5x-10x (or more) what they paid, and aren’t moving. It’s a crappy return on their asset, but don’t care.
What many people don’t realize is that even with a pile of equity in their home, they cannot get to it because they don’t qualify for a decent loan.
Some people are making a huge financial mistake by wanting their mortgage paid off sooner or completely.
August 8, 2007 at 9:51 AM in reply to: Why are Jumbo loan rates (aka. california loan rates) sky-rocketing #71743ParticipantIt’s not a “regulation” It’s simply market conditions.
See the Forum Topic
“Help understanding the $417K limit on home loans”
off to the right.THIS website will keep you informed.
August 8, 2007 at 9:51 AM in reply to: Why are Jumbo loan rates (aka. california loan rates) sky-rocketing #71858ParticipantIt’s not a “regulation” It’s simply market conditions.
See the Forum Topic
“Help understanding the $417K limit on home loans”
off to the right.THIS website will keep you informed.
August 8, 2007 at 9:51 AM in reply to: Why are Jumbo loan rates (aka. california loan rates) sky-rocketing #71866ParticipantIt’s not a “regulation” It’s simply market conditions.
See the Forum Topic
“Help understanding the $417K limit on home loans”
off to the right.THIS website will keep you informed.
ParticipantQuite simply there are two things that will determine how well you weather the storm CASH and DEBT…
You want more of the first and less of the second.That being said, there is nothing wrong with manageable debt. For someone with $5,000 in CC debt and $200 a month minimum payment (regardless of interest rate)
I would rather see $5,000 in their bank account with that $200 monthly payment than no cash in the bank and no $200 payment.Many “wealthy” people have gotten into financial trouble due to lack of liquidity.
I am also VERY concerned about the future, and feel that CASH reserves give me more security than anything else.
For now, I don’t care if it doesn’t outpace inflation. You make hay when the sun shines. I see a lot of clouds right now.
There’s still way too much “irrational exuberance” in my opinion.Expect a storm with rain, sleet, snow, floods, a hurricane, tornado, and a tsunami. Be prepared for them all.
If it only rains or snows you will have no problem.Storms don’t last forever. There’s a rainbow after a good rain.
I’ve never wanted to be more wrong in my life.
ParticipantQuite simply there are two things that will determine how well you weather the storm CASH and DEBT…
You want more of the first and less of the second.That being said, there is nothing wrong with manageable debt. For someone with $5,000 in CC debt and $200 a month minimum payment (regardless of interest rate)
I would rather see $5,000 in their bank account with that $200 monthly payment than no cash in the bank and no $200 payment.Many “wealthy” people have gotten into financial trouble due to lack of liquidity.
I am also VERY concerned about the future, and feel that CASH reserves give me more security than anything else.
For now, I don’t care if it doesn’t outpace inflation. You make hay when the sun shines. I see a lot of clouds right now.
There’s still way too much “irrational exuberance” in my opinion.Expect a storm with rain, sleet, snow, floods, a hurricane, tornado, and a tsunami. Be prepared for them all.
If it only rains or snows you will have no problem.Storms don’t last forever. There’s a rainbow after a good rain.
I’ve never wanted to be more wrong in my life.
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