[Raybyrnes]

There are a lot of things that can happen. The average Joe thinks on the level of rates and points. The mechanics of mortgage backed securities occurs on the secondary market. If the government steps in and guarantees the loans they become more valuable to institutional purchasers. This provides lenders with better margins wherby they can reduce rates and remain profitable.

I hate to tell people to throw good money after bad money but there could be help around the corner. The bottom line is that you ahve to live somewhere for the time being and you still have a few years before the rates reset.

Besides that the winter is a bad time to be a seller and typically a good time to be a buyer. Those who have cash are really looking to low ball at this point. I would want to wait this out until some the the legislative dust settles.

There were a lot of people who bought at the high point in a lot of real estate cycles and those who were able to hold on did OK over THE LONG HAUL.

Besides that, you suggested that you liked your place in all of your posts. My thing to you is what are the job prospects? Any chance your income could rise by 10 or 20% over the next 1 to 5 years and if it’s not is there anything you could be doing to get it going in that direction.

[Raybyrnes]

Legality is determined by a judge not you. Your obligation is to pay your rent to the son. End of story. This crap about the neighbors you don’t like, a mother who contacts you is rubbish. All you need to say to stay clean is that you make on time payments to the son and that you will need to contact him regarding any further issues. If they need to contact you on any further issues you would prefer they do it through an attorney.

[Raybyrnes]

Legality is determined by a judge not you. Your obligation is to pay your rent to the son. End of story. This crap about the neighbors you don’t like, a mother who contacts you is rubbish. All you need to say to stay clean is that you make on time payments to the son and that you will need to contact him regarding any further issues. If they need to contact you on any further issues you would prefer they do it through an attorney.

[Raybyrnes]

Legality is determined by a judge not you. Your obligation is to pay your rent to the son. End of story. This crap about the neighbors you don’t like, a mother who contacts you is rubbish. All you need to say to stay clean is that you make on time payments to the son and that you will need to contact him regarding any further issues. If they need to contact you on any further issues you would prefer they do it through an attorney.

[Raybyrnes]

Legality is determined by a judge not you. Your obligation is to pay your rent to the son. End of story. This crap about the neighbors you don’t like, a mother who contacts you is rubbish. All you need to say to stay clean is that you make on time payments to the son and that you will need to contact him regarding any further issues. If they need to contact you on any further issues you would prefer they do it through an attorney.

[Raybyrnes]

“But remember, you aren’t the victim (and I don’t think you see yourself as the victim, which is good); the institutions who are going to absorb your loss are.”

Banks are in the business of lending money. They take a risk for the right to the interest they earn on their money. This borrower never defrauded the bank. It might not work out the way either party hoped but I don’t see a victim.

I won’t lose sleep when WAMU, Countrywide, Merrill Lynch or any other instituition loses money on an investment. It is a game that they play and in the end they will play right more than they play wrong.

Right now djrob has the tough choice of deciding whether the initial capital he used is at this point a SUNK cost or if there is still some intrinsic value in holding his property.

I tend to think that 401K should be a lock box principal so I agree with many of the othe posters who have suggested not raiding it. I also know others who see the 401k as a guarantee fund that can be thought of as an interst free loan. People have differnt way of looking at their money.

One thing that people havn’t thrown out there is the fact that if you continue to hold on and the environment deteriorates further the Federal Governemtn may step in to help the banks which might mean more potential to help you. Buying some additional time might not be a bad thing as there is a lot going on at the moment and with an election year coming up the Republicans are going to do what they can to save face. That might mean buying votes by trying to save peoples homes.

Ra

[Raybyrnes]

“But remember, you aren’t the victim (and I don’t think you see yourself as the victim, which is good); the institutions who are going to absorb your loss are.”

Banks are in the business of lending money. They take a risk for the right to the interest they earn on their money. This borrower never defrauded the bank. It might not work out the way either party hoped but I don’t see a victim.

I won’t lose sleep when WAMU, Countrywide, Merrill Lynch or any other instituition loses money on an investment. It is a game that they play and in the end they will play right more than they play wrong.

Right now djrob has the tough choice of deciding whether the initial capital he used is at this point a SUNK cost or if there is still some intrinsic value in holding his property.

I tend to think that 401K should be a lock box principal so I agree with many of the othe posters who have suggested not raiding it. I also know others who see the 401k as a guarantee fund that can be thought of as an interst free loan. People have differnt way of looking at their money.

One thing that people havn’t thrown out there is the fact that if you continue to hold on and the environment deteriorates further the Federal Governemtn may step in to help the banks which might mean more potential to help you. Buying some additional time might not be a bad thing as there is a lot going on at the moment and with an election year coming up the Republicans are going to do what they can to save face. That might mean buying votes by trying to save peoples homes.

Ra

[Raybyrnes]

“But remember, you aren’t the victim (and I don’t think you see yourself as the victim, which is good); the institutions who are going to absorb your loss are.”

Banks are in the business of lending money. They take a risk for the right to the interest they earn on their money. This borrower never defrauded the bank. It might not work out the way either party hoped but I don’t see a victim.

I won’t lose sleep when WAMU, Countrywide, Merrill Lynch or any other instituition loses money on an investment. It is a game that they play and in the end they will play right more than they play wrong.

Right now djrob has the tough choice of deciding whether the initial capital he used is at this point a SUNK cost or if there is still some intrinsic value in holding his property.

I tend to think that 401K should be a lock box principal so I agree with many of the othe posters who have suggested not raiding it. I also know others who see the 401k as a guarantee fund that can be thought of as an interst free loan. People have differnt way of looking at their money.

One thing that people havn’t thrown out there is the fact that if you continue to hold on and the environment deteriorates further the Federal Governemtn may step in to help the banks which might mean more potential to help you. Buying some additional time might not be a bad thing as there is a lot going on at the moment and with an election year coming up the Republicans are going to do what they can to save face. That might mean buying votes by trying to save peoples homes.

Ra

[Raybyrnes]

“But remember, you aren’t the victim (and I don’t think you see yourself as the victim, which is good); the institutions who are going to absorb your loss are.”

Banks are in the business of lending money. They take a risk for the right to the interest they earn on their money. This borrower never defrauded the bank. It might not work out the way either party hoped but I don’t see a victim.

I won’t lose sleep when WAMU, Countrywide, Merrill Lynch or any other instituition loses money on an investment. It is a game that they play and in the end they will play right more than they play wrong.

Right now djrob has the tough choice of deciding whether the initial capital he used is at this point a SUNK cost or if there is still some intrinsic value in holding his property.

I tend to think that 401K should be a lock box principal so I agree with many of the othe posters who have suggested not raiding it. I also know others who see the 401k as a guarantee fund that can be thought of as an interst free loan. People have differnt way of looking at their money.

One thing that people havn’t thrown out there is the fact that if you continue to hold on and the environment deteriorates further the Federal Governemtn may step in to help the banks which might mean more potential to help you. Buying some additional time might not be a bad thing as there is a lot going on at the moment and with an election year coming up the Republicans are going to do what they can to save face. That might mean buying votes by trying to save peoples homes.

Ra

[Raybyrnes]

djrobsd

I hate the idea that the market could go to 16 and I would have lost out but I got 18% YTD and I want to lock a piece of that in. I see some downside coming so I figure there are no transaction fees to move things around here.

This is one of those times where I regret not having and options accounts available so I can buy some out of the money puts.

Additionally I hate the fact that I have to suck it up in the early mourning when the market is down 80 and you see it going south and you know you can’t do anything unitl the end of the day with the mutual funds. Definitely makes you appreciate ETF’s for liquidity purposes.

[Raybyrnes]

djrobsd

I hate the idea that the market could go to 16 and I would have lost out but I got 18% YTD and I want to lock a piece of that in. I see some downside coming so I figure there are no transaction fees to move things around here.

This is one of those times where I regret not having and options accounts available so I can buy some out of the money puts.

Additionally I hate the fact that I have to suck it up in the early mourning when the market is down 80 and you see it going south and you know you can’t do anything unitl the end of the day with the mutual funds. Definitely makes you appreciate ETF’s for liquidity purposes.

[Raybyrnes]

djrobsd

I hate the idea that the market could go to 16 and I would have lost out but I got 18% YTD and I want to lock a piece of that in. I see some downside coming so I figure there are no transaction fees to move things around here.

This is one of those times where I regret not having and options accounts available so I can buy some out of the money puts.

Additionally I hate the fact that I have to suck it up in the early mourning when the market is down 80 and you see it going south and you know you can’t do anything unitl the end of the day with the mutual funds. Definitely makes you appreciate ETF’s for liquidity purposes.

[Raybyrnes]

djrobsd

I hate the idea that the market could go to 16 and I would have lost out but I got 18% YTD and I want to lock a piece of that in. I see some downside coming so I figure there are no transaction fees to move things around here.

This is one of those times where I regret not having and options accounts available so I can buy some out of the money puts.

Additionally I hate the fact that I have to suck it up in the early mourning when the market is down 80 and you see it going south and you know you can’t do anything unitl the end of the day with the mutual funds. Definitely makes you appreciate ETF’s for liquidity purposes.

[Raybyrnes]

I think people have different appetitie for risk and games. I reallocated 50% of my 401k portfolio into cash after the rate cut and will try to reenter at a point down the line

[Raybyrnes]

I think people have different appetitie for risk and games. I reallocated 50% of my 401k portfolio into cash after the rate cut and will try to reenter at a point down the line

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