[sheilawellington]

Of course immigrants caused the housing bubble and the credit crunch that threatens to destroy our economy. The MSM won’t print this, but it is well known that immigrants are the sole cause of:

-Expensive gasoline
-Global warming and melting glaciers
-Earthquakes and tornadoes
-The Enron and Worldcom fiascos
-School shootings
-9/11
-Preschool bullying
-Long lines at Costco

Those stains you see on the moon surface on a clear night? You guessed it! Caused by immigrants. Was it too cold (or too hot) today? Those filthy immigrants are responsible!

[sheilawellington]

Of course immigrants caused the housing bubble and the credit crunch that threatens to destroy our economy. The MSM won’t print this, but it is well known that immigrants are the sole cause of:

-Expensive gasoline
-Global warming and melting glaciers
-Earthquakes and tornadoes
-The Enron and Worldcom fiascos
-School shootings
-9/11
-Preschool bullying
-Long lines at Costco

Those stains you see on the moon surface on a clear night? You guessed it! Caused by immigrants. Was it too cold (or too hot) today? Those filthy immigrants are responsible!

[sheilawellington]

This makes me think that even high income households who have no problem paying their mortgage, even after resets, may still walk away.

Let’s say someone has been paying $5K a month for a McMansion that they bought with little or zero down in 2004-2006. Once their payments reset to $9K they may decide to simply walk away if they can rent the same oversized house for under $4K. Well, first buy another foreclosed house down the street for pennies on the dollar, AND THEN default (mail the keys to the bank) on the original house.

House prices are supposed to be sticky on the way down, historically. BUT a vicious circle like the one described can make prices fall as fast as they went up in 2003-2005.

Sit back and enjoy the train wreck, er…, the show!

[sheilawellington]

This makes me think that even high income households who have no problem paying their mortgage, even after resets, may still walk away.

Let’s say someone has been paying $5K a month for a McMansion that they bought with little or zero down in 2004-2006. Once their payments reset to $9K they may decide to simply walk away if they can rent the same oversized house for under $4K. Well, first buy another foreclosed house down the street for pennies on the dollar, AND THEN default (mail the keys to the bank) on the original house.

House prices are supposed to be sticky on the way down, historically. BUT a vicious circle like the one described can make prices fall as fast as they went up in 2003-2005.

Sit back and enjoy the train wreck, er…, the show!

[sheilawellington]

This makes me think that even high income households who have no problem paying their mortgage, even after resets, may still walk away.

Let’s say someone has been paying $5K a month for a McMansion that they bought with little or zero down in 2004-2006. Once their payments reset to $9K they may decide to simply walk away if they can rent the same oversized house for under $4K. Well, first buy another foreclosed house down the street for pennies on the dollar, AND THEN default (mail the keys to the bank) on the original house.

House prices are supposed to be sticky on the way down, historically. BUT a vicious circle like the one described can make prices fall as fast as they went up in 2003-2005.

Sit back and enjoy the train wreck, er…, the show!

[sheilawellington]

This makes me think that even high income households who have no problem paying their mortgage, even after resets, may still walk away.

Let’s say someone has been paying $5K a month for a McMansion that they bought with little or zero down in 2004-2006. Once their payments reset to $9K they may decide to simply walk away if they can rent the same oversized house for under $4K. Well, first buy another foreclosed house down the street for pennies on the dollar, AND THEN default (mail the keys to the bank) on the original house.

House prices are supposed to be sticky on the way down, historically. BUT a vicious circle like the one described can make prices fall as fast as they went up in 2003-2005.

Sit back and enjoy the train wreck, er…, the show!

[sheilawellington]

This makes me think that even high income households who have no problem paying their mortgage, even after resets, may still walk away.

Let’s say someone has been paying $5K a month for a McMansion that they bought with little or zero down in 2004-2006. Once their payments reset to $9K they may decide to simply walk away if they can rent the same oversized house for under $4K. Well, first buy another foreclosed house down the street for pennies on the dollar, AND THEN default (mail the keys to the bank) on the original house.

House prices are supposed to be sticky on the way down, historically. BUT a vicious circle like the one described can make prices fall as fast as they went up in 2003-2005.

Sit back and enjoy the train wreck, er…, the show!

[sheilawellington]

I always though that lending money, especially to family or close friends, is one of the stupidest things that you can do.

Later I learned that paying back a loan is considered even stupider!

If you don’t mind little white lies, tell the potential borrowers that your money is tied up in IRAs and the like and that would take a huge penalty and tax hit if you were to cash out now.

[sheilawellington]

I always though that lending money, especially to family or close friends, is one of the stupidest things that you can do.

Later I learned that paying back a loan is considered even stupider!

If you don’t mind little white lies, tell the potential borrowers that your money is tied up in IRAs and the like and that would take a huge penalty and tax hit if you were to cash out now.

[sheilawellington]

I always though that lending money, especially to family or close friends, is one of the stupidest things that you can do.

Later I learned that paying back a loan is considered even stupider!

If you don’t mind little white lies, tell the potential borrowers that your money is tied up in IRAs and the like and that would take a huge penalty and tax hit if you were to cash out now.

[sheilawellington]

I always though that lending money, especially to family or close friends, is one of the stupidest things that you can do.

Later I learned that paying back a loan is considered even stupider!

If you don’t mind little white lies, tell the potential borrowers that your money is tied up in IRAs and the like and that would take a huge penalty and tax hit if you were to cash out now.

[sheilawellington]

I always though that lending money, especially to family or close friends, is one of the stupidest things that you can do.

Later I learned that paying back a loan is considered even stupider!

If you don’t mind little white lies, tell the potential borrowers that your money is tied up in IRAs and the like and that would take a huge penalty and tax hit if you were to cash out now.

[sheilawellington]

I have relatives expecting a baby girl too. They have a long last name ending in “-ana”. It think it’s a Basque last name. Anyways, friends have suggested many pretty names but most have been turned down. The mom to be has some rigid rules:

– It has to be a short name (because the family name is long)
– But it has to be more than one syllable long
– Must not end in “a”

Any suggestions?

[sheilawellington]

I have relatives expecting a baby girl too. They have a long last name ending in “-ana”. It think it’s a Basque last name. Anyways, friends have suggested many pretty names but most have been turned down. The mom to be has some rigid rules:

– It has to be a short name (because the family name is long)
– But it has to be more than one syllable long
– Must not end in “a”

Any suggestions?

[sheilawellington]

I have relatives expecting a baby girl too. They have a long last name ending in “-ana”. It think it’s a Basque last name. Anyways, friends have suggested many pretty names but most have been turned down. The mom to be has some rigid rules:

– It has to be a short name (because the family name is long)
– But it has to be more than one syllable long
– Must not end in “a”

Any suggestions?

[Author]

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