[moneymaker]

I currently bank @ 3 major banks and 1 credit union. By far the major banks are changing their terms the most, like every 2-3 months, I realize a lot of this is legal mumbo jumbo as I will leave any of them in a heart beat if they piss me off. I like US Bank the most of the big 3. I already closed a Chase credit card when they unilaterally without cause raised rates on me. Balance paid off now they aren’t making any money off me.P.S.- I did get them to change the rate back after 3 phone calls and talking to a supervisor/manager. I think it’s a crime that BofA took bailout,gets money practically free (.25%) and then turns around and has the gall to charge some people interest around 29%. I will be drinking champagne the day BofA goes bankrupt.

[moneymaker]

I currently bank @ 3 major banks and 1 credit union. By far the major banks are changing their terms the most, like every 2-3 months, I realize a lot of this is legal mumbo jumbo as I will leave any of them in a heart beat if they piss me off. I like US Bank the most of the big 3. I already closed a Chase credit card when they unilaterally without cause raised rates on me. Balance paid off now they aren’t making any money off me.P.S.- I did get them to change the rate back after 3 phone calls and talking to a supervisor/manager. I think it’s a crime that BofA took bailout,gets money practically free (.25%) and then turns around and has the gall to charge some people interest around 29%. I will be drinking champagne the day BofA goes bankrupt.

[moneymaker]

I currently bank @ 3 major banks and 1 credit union. By far the major banks are changing their terms the most, like every 2-3 months, I realize a lot of this is legal mumbo jumbo as I will leave any of them in a heart beat if they piss me off. I like US Bank the most of the big 3. I already closed a Chase credit card when they unilaterally without cause raised rates on me. Balance paid off now they aren’t making any money off me.P.S.- I did get them to change the rate back after 3 phone calls and talking to a supervisor/manager. I think it’s a crime that BofA took bailout,gets money practically free (.25%) and then turns around and has the gall to charge some people interest around 29%. I will be drinking champagne the day BofA goes bankrupt.

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[moneymaker]

yeah the fund managers made 250% more money than I did and it was my money! I guess it is like the local politician making 2 1/2 times what his constituency earns. I guess that just proves my fund manager is smarter than I am.

[moneymaker]

yeah the fund managers made 250% more money than I did and it was my money! I guess it is like the local politician making 2 1/2 times what his constituency earns. I guess that just proves my fund manager is smarter than I am.

[moneymaker]

yeah the fund managers made 250% more money than I did and it was my money! I guess it is like the local politician making 2 1/2 times what his constituency earns. I guess that just proves my fund manager is smarter than I am.

[moneymaker]

yeah the fund managers made 250% more money than I did and it was my money! I guess it is like the local politician making 2 1/2 times what his constituency earns. I guess that just proves my fund manager is smarter than I am.

[moneymaker]

yeah the fund managers made 250% more money than I did and it was my money! I guess it is like the local politician making 2 1/2 times what his constituency earns. I guess that just proves my fund manager is smarter than I am.

[moneymaker]

I’m not an investment guru but let me tell you I went into a bond mutual fund (Vanguard Prime Money Market Fund) about a year ago thinking it was safe. Even though interest rates have gone down (10 year treasury) my yearly increase was like 0.1%, I feel like I was ripped off, but unfortunately it was the “safest” thing I could do in my 401K. I definitely want to get out of bonds, but I feel stocks are overvalued. What to do? The expense ratio for the above fund was .25% WTF

[moneymaker]

I’m not an investment guru but let me tell you I went into a bond mutual fund (Vanguard Prime Money Market Fund) about a year ago thinking it was safe. Even though interest rates have gone down (10 year treasury) my yearly increase was like 0.1%, I feel like I was ripped off, but unfortunately it was the “safest” thing I could do in my 401K. I definitely want to get out of bonds, but I feel stocks are overvalued. What to do? The expense ratio for the above fund was .25% WTF

[Author]

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