[temeculaguy]

This is gonna hurt but I have agree with analyst on the loan mod. The fine print in all the mods I’ve seen, the principal write down is a mirage. That 250k is more than likely dormant, but comes out of hibernation of you try to sell or refi and sometimes has a clause where it comes back after a set amount of years or if appreciation kicks in. Sometimes those missed payments are dormant as well.

It makes sense for the bank, the loss is less than a repo, in a mod, at least they have the possibility of recovering all of their money, just not right now, in a repo, the money is gone forever.

Where I depart from analyst, I don’t think it’s the government’s fault or kicking the can down the road or anything to do with responsibility. It’s just a business decision on the lenders part, one that has more upsides in some situations than a repo for them. The guy will stay, keep up the place, make a payment (albeit a smaller one) and he will feel good about it, even brag about it. In time, they have a decent chance of getting all of their money back. You can envy that guy, i feel bad for him a little, if his value returns in the future, he won’t get the benefit of it that his neighbors will (like a renter), but then again, his other option is be kicked out and to rent for probably a similar price and this way he doesn’t have a landlord. Don’t do a loan mod as a strategy, do it if it is your last resort.

[temeculaguy]

This is gonna hurt but I have agree with analyst on the loan mod. The fine print in all the mods I’ve seen, the principal write down is a mirage. That 250k is more than likely dormant, but comes out of hibernation of you try to sell or refi and sometimes has a clause where it comes back after a set amount of years or if appreciation kicks in. Sometimes those missed payments are dormant as well.

It makes sense for the bank, the loss is less than a repo, in a mod, at least they have the possibility of recovering all of their money, just not right now, in a repo, the money is gone forever.

Where I depart from analyst, I don’t think it’s the government’s fault or kicking the can down the road or anything to do with responsibility. It’s just a business decision on the lenders part, one that has more upsides in some situations than a repo for them. The guy will stay, keep up the place, make a payment (albeit a smaller one) and he will feel good about it, even brag about it. In time, they have a decent chance of getting all of their money back. You can envy that guy, i feel bad for him a little, if his value returns in the future, he won’t get the benefit of it that his neighbors will (like a renter), but then again, his other option is be kicked out and to rent for probably a similar price and this way he doesn’t have a landlord. Don’t do a loan mod as a strategy, do it if it is your last resort.

[temeculaguy]

This is gonna hurt but I have agree with analyst on the loan mod. The fine print in all the mods I’ve seen, the principal write down is a mirage. That 250k is more than likely dormant, but comes out of hibernation of you try to sell or refi and sometimes has a clause where it comes back after a set amount of years or if appreciation kicks in. Sometimes those missed payments are dormant as well.

It makes sense for the bank, the loss is less than a repo, in a mod, at least they have the possibility of recovering all of their money, just not right now, in a repo, the money is gone forever.

Where I depart from analyst, I don’t think it’s the government’s fault or kicking the can down the road or anything to do with responsibility. It’s just a business decision on the lenders part, one that has more upsides in some situations than a repo for them. The guy will stay, keep up the place, make a payment (albeit a smaller one) and he will feel good about it, even brag about it. In time, they have a decent chance of getting all of their money back. You can envy that guy, i feel bad for him a little, if his value returns in the future, he won’t get the benefit of it that his neighbors will (like a renter), but then again, his other option is be kicked out and to rent for probably a similar price and this way he doesn’t have a landlord. Don’t do a loan mod as a strategy, do it if it is your last resort.

[temeculaguy]

This is gonna hurt but I have agree with analyst on the loan mod. The fine print in all the mods I’ve seen, the principal write down is a mirage. That 250k is more than likely dormant, but comes out of hibernation of you try to sell or refi and sometimes has a clause where it comes back after a set amount of years or if appreciation kicks in. Sometimes those missed payments are dormant as well.

It makes sense for the bank, the loss is less than a repo, in a mod, at least they have the possibility of recovering all of their money, just not right now, in a repo, the money is gone forever.

Where I depart from analyst, I don’t think it’s the government’s fault or kicking the can down the road or anything to do with responsibility. It’s just a business decision on the lenders part, one that has more upsides in some situations than a repo for them. The guy will stay, keep up the place, make a payment (albeit a smaller one) and he will feel good about it, even brag about it. In time, they have a decent chance of getting all of their money back. You can envy that guy, i feel bad for him a little, if his value returns in the future, he won’t get the benefit of it that his neighbors will (like a renter), but then again, his other option is be kicked out and to rent for probably a similar price and this way he doesn’t have a landlord. Don’t do a loan mod as a strategy, do it if it is your last resort.

[temeculaguy]

Sd and allan, it’s like we are sharing the same brain. Yes, the writing conditions were exactly as SD guessed and allan nailed the movie quote. The more I think about it the more I want to host that korean teacher. I figure the the meeting with the organizers of the program would be off the charts on the comedy scale. They would tell me the rules of the program and I would counter with “O.K., but at least twice a week he has to go to happy hour with me and he has to wear my “donger” t-shirt. Then they tell me that I am supposed to expose him to cultural locations and experiences, I reply “you mean vegas, right? No problem and I assure you I will only take him to the classy gentlemen’s clubs.”

Back to football, I’m fired up to see tonight’s game, I can’t lose, either the bolts win and get back into the drivers seat for a second half of the season push like they usually do, or the coaching rumors start flying again. It does boggle the mind that Cowher, Shanahan, Gruden, Holmgren and Dungy are all out of coaching, while at the same time, three really neat places to live, coach and be rich (San Diego, Oakland and Dallas) are being coached by Norv, Wade and Mike Tyson’s evil twin, aka, “likes to fight guy.” (I actually like the raiders coach’s style, just not the punching the assistants thing). Is it me or does it look like Wade Phillips won a contest and gets to watch from the sidelines as his prize. Oh and I forgot the skins coach, Zorn is no longer allowed to use dry erase markers, he has been relegated to the big kindergarten crayons, and to think that team passed up on singletary. And what the hell happened to Baltimore?

All these non sports fan think that economics and politics will make you crazy, that’s nothing, I’m already on the verge of a psych med overdose and it’s still a few weeks away before Ron Artest plays in a regular season game. I hoard medication each year for the NBA/NFL overlap period, but the way things are going, I’m not going to have enough.

Final prediction, Saints win it all

[temeculaguy]

Sd and allan, it’s like we are sharing the same brain. Yes, the writing conditions were exactly as SD guessed and allan nailed the movie quote. The more I think about it the more I want to host that korean teacher. I figure the the meeting with the organizers of the program would be off the charts on the comedy scale. They would tell me the rules of the program and I would counter with “O.K., but at least twice a week he has to go to happy hour with me and he has to wear my “donger” t-shirt. Then they tell me that I am supposed to expose him to cultural locations and experiences, I reply “you mean vegas, right? No problem and I assure you I will only take him to the classy gentlemen’s clubs.”

Back to football, I’m fired up to see tonight’s game, I can’t lose, either the bolts win and get back into the drivers seat for a second half of the season push like they usually do, or the coaching rumors start flying again. It does boggle the mind that Cowher, Shanahan, Gruden, Holmgren and Dungy are all out of coaching, while at the same time, three really neat places to live, coach and be rich (San Diego, Oakland and Dallas) are being coached by Norv, Wade and Mike Tyson’s evil twin, aka, “likes to fight guy.” (I actually like the raiders coach’s style, just not the punching the assistants thing). Is it me or does it look like Wade Phillips won a contest and gets to watch from the sidelines as his prize. Oh and I forgot the skins coach, Zorn is no longer allowed to use dry erase markers, he has been relegated to the big kindergarten crayons, and to think that team passed up on singletary. And what the hell happened to Baltimore?

All these non sports fan think that economics and politics will make you crazy, that’s nothing, I’m already on the verge of a psych med overdose and it’s still a few weeks away before Ron Artest plays in a regular season game. I hoard medication each year for the NBA/NFL overlap period, but the way things are going, I’m not going to have enough.

Final prediction, Saints win it all

[temeculaguy]

Sd and allan, it’s like we are sharing the same brain. Yes, the writing conditions were exactly as SD guessed and allan nailed the movie quote. The more I think about it the more I want to host that korean teacher. I figure the the meeting with the organizers of the program would be off the charts on the comedy scale. They would tell me the rules of the program and I would counter with “O.K., but at least twice a week he has to go to happy hour with me and he has to wear my “donger” t-shirt. Then they tell me that I am supposed to expose him to cultural locations and experiences, I reply “you mean vegas, right? No problem and I assure you I will only take him to the classy gentlemen’s clubs.”

Back to football, I’m fired up to see tonight’s game, I can’t lose, either the bolts win and get back into the drivers seat for a second half of the season push like they usually do, or the coaching rumors start flying again. It does boggle the mind that Cowher, Shanahan, Gruden, Holmgren and Dungy are all out of coaching, while at the same time, three really neat places to live, coach and be rich (San Diego, Oakland and Dallas) are being coached by Norv, Wade and Mike Tyson’s evil twin, aka, “likes to fight guy.” (I actually like the raiders coach’s style, just not the punching the assistants thing). Is it me or does it look like Wade Phillips won a contest and gets to watch from the sidelines as his prize. Oh and I forgot the skins coach, Zorn is no longer allowed to use dry erase markers, he has been relegated to the big kindergarten crayons, and to think that team passed up on singletary. And what the hell happened to Baltimore?

All these non sports fan think that economics and politics will make you crazy, that’s nothing, I’m already on the verge of a psych med overdose and it’s still a few weeks away before Ron Artest plays in a regular season game. I hoard medication each year for the NBA/NFL overlap period, but the way things are going, I’m not going to have enough.

Final prediction, Saints win it all

[temeculaguy]

Sd and allan, it’s like we are sharing the same brain. Yes, the writing conditions were exactly as SD guessed and allan nailed the movie quote. The more I think about it the more I want to host that korean teacher. I figure the the meeting with the organizers of the program would be off the charts on the comedy scale. They would tell me the rules of the program and I would counter with “O.K., but at least twice a week he has to go to happy hour with me and he has to wear my “donger” t-shirt. Then they tell me that I am supposed to expose him to cultural locations and experiences, I reply “you mean vegas, right? No problem and I assure you I will only take him to the classy gentlemen’s clubs.”

Back to football, I’m fired up to see tonight’s game, I can’t lose, either the bolts win and get back into the drivers seat for a second half of the season push like they usually do, or the coaching rumors start flying again. It does boggle the mind that Cowher, Shanahan, Gruden, Holmgren and Dungy are all out of coaching, while at the same time, three really neat places to live, coach and be rich (San Diego, Oakland and Dallas) are being coached by Norv, Wade and Mike Tyson’s evil twin, aka, “likes to fight guy.” (I actually like the raiders coach’s style, just not the punching the assistants thing). Is it me or does it look like Wade Phillips won a contest and gets to watch from the sidelines as his prize. Oh and I forgot the skins coach, Zorn is no longer allowed to use dry erase markers, he has been relegated to the big kindergarten crayons, and to think that team passed up on singletary. And what the hell happened to Baltimore?

All these non sports fan think that economics and politics will make you crazy, that’s nothing, I’m already on the verge of a psych med overdose and it’s still a few weeks away before Ron Artest plays in a regular season game. I hoard medication each year for the NBA/NFL overlap period, but the way things are going, I’m not going to have enough.

Final prediction, Saints win it all

[temeculaguy]

Sd and allan, it’s like we are sharing the same brain. Yes, the writing conditions were exactly as SD guessed and allan nailed the movie quote. The more I think about it the more I want to host that korean teacher. I figure the the meeting with the organizers of the program would be off the charts on the comedy scale. They would tell me the rules of the program and I would counter with “O.K., but at least twice a week he has to go to happy hour with me and he has to wear my “donger” t-shirt. Then they tell me that I am supposed to expose him to cultural locations and experiences, I reply “you mean vegas, right? No problem and I assure you I will only take him to the classy gentlemen’s clubs.”

Back to football, I’m fired up to see tonight’s game, I can’t lose, either the bolts win and get back into the drivers seat for a second half of the season push like they usually do, or the coaching rumors start flying again. It does boggle the mind that Cowher, Shanahan, Gruden, Holmgren and Dungy are all out of coaching, while at the same time, three really neat places to live, coach and be rich (San Diego, Oakland and Dallas) are being coached by Norv, Wade and Mike Tyson’s evil twin, aka, “likes to fight guy.” (I actually like the raiders coach’s style, just not the punching the assistants thing). Is it me or does it look like Wade Phillips won a contest and gets to watch from the sidelines as his prize. Oh and I forgot the skins coach, Zorn is no longer allowed to use dry erase markers, he has been relegated to the big kindergarten crayons, and to think that team passed up on singletary. And what the hell happened to Baltimore?

All these non sports fan think that economics and politics will make you crazy, that’s nothing, I’m already on the verge of a psych med overdose and it’s still a few weeks away before Ron Artest plays in a regular season game. I hoard medication each year for the NBA/NFL overlap period, but the way things are going, I’m not going to have enough.

Final prediction, Saints win it all

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

[quote=SD Realtor]Don’t worry… over time the thread will get hijacked by

a) football conversation
b) political mudslinging
c) end of the world as we know it talk[/quote]

Was that a request? I pick “a”, without further ado, allan, how bout your raiders over sdrealtors iggles, nice work? What do you think SD, the patsies look like they got it going on again, I’m almost o.k with denver taking tomorrow night and the division, it’s our only hope to end the norv tuner era and get “chucky” for next year.

This is now the second request this week to take on an exchange person, the other one was from my kids school to take a korean male teacher who will be teaching at my kids school (the two female teachers are already taken, so no moral dilemma there). I thought about that for a bit, I need a wingman and korea needs a little hedonism, he’s gonna hate my “donger needs food” t-shirt but other than that, it could work. I’ll sleep on it.

[Author]

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