[patientlywaiting]

[quote=barnaby33]I wouldn’t bet on the pound rising much soon, at least not in any long term or structural sense. England’s banking problem is almost as immense as Iceland’s. Its a small country, relative to the size of its banking industry. Its currency isn’t a reserve and its banks took even more risks than US banks.

[/quote]

What does the UK produce that anybody wants?

The City on the Thames benefited from all the oil money as the Arabs, and the Russians, after 9/11, invested via London.

Now that the oil wealth is evaporating and the Middle Eastern countries have budget deficits, I don’t see London rising anytime soon.

As 9/11 becomes of a memory, oil money can again flow directly to New York and to the new money centers in the world (Dubai, Singapore, Shanghai, etc..)

It would be ironic if the UK end up having to beg to join the Euro zone.

[patientlywaiting]

[quote=barnaby33]I wouldn’t bet on the pound rising much soon, at least not in any long term or structural sense. England’s banking problem is almost as immense as Iceland’s. Its a small country, relative to the size of its banking industry. Its currency isn’t a reserve and its banks took even more risks than US banks.

[/quote]

What does the UK produce that anybody wants?

The City on the Thames benefited from all the oil money as the Arabs, and the Russians, after 9/11, invested via London.

Now that the oil wealth is evaporating and the Middle Eastern countries have budget deficits, I don’t see London rising anytime soon.

As 9/11 becomes of a memory, oil money can again flow directly to New York and to the new money centers in the world (Dubai, Singapore, Shanghai, etc..)

It would be ironic if the UK end up having to beg to join the Euro zone.

[patientlywaiting]

[quote=barnaby33]I wouldn’t bet on the pound rising much soon, at least not in any long term or structural sense. England’s banking problem is almost as immense as Iceland’s. Its a small country, relative to the size of its banking industry. Its currency isn’t a reserve and its banks took even more risks than US banks.

[/quote]

What does the UK produce that anybody wants?

The City on the Thames benefited from all the oil money as the Arabs, and the Russians, after 9/11, invested via London.

Now that the oil wealth is evaporating and the Middle Eastern countries have budget deficits, I don’t see London rising anytime soon.

As 9/11 becomes of a memory, oil money can again flow directly to New York and to the new money centers in the world (Dubai, Singapore, Shanghai, etc..)

It would be ironic if the UK end up having to beg to join the Euro zone.

[patientlywaiting]

[quote=barnaby33]I wouldn’t bet on the pound rising much soon, at least not in any long term or structural sense. England’s banking problem is almost as immense as Iceland’s. Its a small country, relative to the size of its banking industry. Its currency isn’t a reserve and its banks took even more risks than US banks.

[/quote]

What does the UK produce that anybody wants?

The City on the Thames benefited from all the oil money as the Arabs, and the Russians, after 9/11, invested via London.

Now that the oil wealth is evaporating and the Middle Eastern countries have budget deficits, I don’t see London rising anytime soon.

As 9/11 becomes of a memory, oil money can again flow directly to New York and to the new money centers in the world (Dubai, Singapore, Shanghai, etc..)

It would be ironic if the UK end up having to beg to join the Euro zone.

[patientlywaiting]

[quote=barnaby33]I wouldn’t bet on the pound rising much soon, at least not in any long term or structural sense. England’s banking problem is almost as immense as Iceland’s. Its a small country, relative to the size of its banking industry. Its currency isn’t a reserve and its banks took even more risks than US banks.

[/quote]

What does the UK produce that anybody wants?

The City on the Thames benefited from all the oil money as the Arabs, and the Russians, after 9/11, invested via London.

Now that the oil wealth is evaporating and the Middle Eastern countries have budget deficits, I don’t see London rising anytime soon.

As 9/11 becomes of a memory, oil money can again flow directly to New York and to the new money centers in the world (Dubai, Singapore, Shanghai, etc..)

It would be ironic if the UK end up having to beg to join the Euro zone.

[patientlywaiting]

[quote=Noob]I have a plan for this.

Arrange a no-fault divorce. Have one spouse hold the house and assume the mortgage. The other spouse can then go purchase a new place at sometime in the future. The spouse holding the condo can then “Walk” on their mortgage and remarry the other who is now holding a fresh new mortgage.[/quote]

Good idea but one problem.

Husband can transfer the interest in the house to the former spouse. However, if the promisory note was signed by both spouses, then the bank will not let the husband off the hook unless the wife can qualify on her own.

So while husband can legally transfer his interest in the property to his wife, he is still liable for the loan, and both individuals’ credit ratings will be ruined if either one of them walk.

[patientlywaiting]

[quote=Noob]I have a plan for this.

Arrange a no-fault divorce. Have one spouse hold the house and assume the mortgage. The other spouse can then go purchase a new place at sometime in the future. The spouse holding the condo can then “Walk” on their mortgage and remarry the other who is now holding a fresh new mortgage.[/quote]

Good idea but one problem.

Husband can transfer the interest in the house to the former spouse. However, if the promisory note was signed by both spouses, then the bank will not let the husband off the hook unless the wife can qualify on her own.

So while husband can legally transfer his interest in the property to his wife, he is still liable for the loan, and both individuals’ credit ratings will be ruined if either one of them walk.

[patientlywaiting]

[quote=Noob]I have a plan for this.

Arrange a no-fault divorce. Have one spouse hold the house and assume the mortgage. The other spouse can then go purchase a new place at sometime in the future. The spouse holding the condo can then “Walk” on their mortgage and remarry the other who is now holding a fresh new mortgage.[/quote]

Good idea but one problem.

Husband can transfer the interest in the house to the former spouse. However, if the promisory note was signed by both spouses, then the bank will not let the husband off the hook unless the wife can qualify on her own.

So while husband can legally transfer his interest in the property to his wife, he is still liable for the loan, and both individuals’ credit ratings will be ruined if either one of them walk.

[patientlywaiting]

[quote=Noob]I have a plan for this.

Arrange a no-fault divorce. Have one spouse hold the house and assume the mortgage. The other spouse can then go purchase a new place at sometime in the future. The spouse holding the condo can then “Walk” on their mortgage and remarry the other who is now holding a fresh new mortgage.[/quote]

Good idea but one problem.

Husband can transfer the interest in the house to the former spouse. However, if the promisory note was signed by both spouses, then the bank will not let the husband off the hook unless the wife can qualify on her own.

So while husband can legally transfer his interest in the property to his wife, he is still liable for the loan, and both individuals’ credit ratings will be ruined if either one of them walk.

[patientlywaiting]

[quote=Noob]I have a plan for this.

Arrange a no-fault divorce. Have one spouse hold the house and assume the mortgage. The other spouse can then go purchase a new place at sometime in the future. The spouse holding the condo can then “Walk” on their mortgage and remarry the other who is now holding a fresh new mortgage.[/quote]

Good idea but one problem.

Husband can transfer the interest in the house to the former spouse. However, if the promisory note was signed by both spouses, then the bank will not let the husband off the hook unless the wife can qualify on her own.

So while husband can legally transfer his interest in the property to his wife, he is still liable for the loan, and both individuals’ credit ratings will be ruined if either one of them walk.

[patientlywaiting]

[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.

Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.

Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.

[/quote]

I don’t see the big deal.

Such shenanigans have been going on for ages so that’s nothing new.

You don’t know if it’ll work unless you try.

[patientlywaiting]

[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.

Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.

Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.

[/quote]

I don’t see the big deal.

Such shenanigans have been going on for ages so that’s nothing new.

You don’t know if it’ll work unless you try.

[patientlywaiting]

[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.

Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.

Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.

[/quote]

I don’t see the big deal.

Such shenanigans have been going on for ages so that’s nothing new.

You don’t know if it’ll work unless you try.

[patientlywaiting]

[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.

Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.

Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.

[/quote]

I don’t see the big deal.

Such shenanigans have been going on for ages so that’s nothing new.

You don’t know if it’ll work unless you try.

[patientlywaiting]

[quote=sdduuuude]Have an unscrupulous friend put in a $250K offer on the short sale contingent upon this, that, and the other. Sell your place, then pull the offer.

Buying a short sale is a pain in the ass. If their realtor is telling buyuers “we have a $250K offer on it,” and you price yours at $230, maybe they’ll come running.

Not sure I’d have the guts to do this, and it’s pretty underhanded, but I can’t stop my brain from coming up with ideas like this.

[/quote]

I don’t see the big deal.

Such shenanigans have been going on for ages so that’s nothing new.

You don’t know if it’ll work unless you try.

[Author]

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