[temeculaguy]

MDAL, I could easily be wrong but the cap gains is only for short sales, a repo will leave the original buyer with a judgement for the 200k loss to the lender not a tax gain, then bk dodges the judgement. Having never walked away or sold short, purely speculation from what others have told me. Lenders will likely never take a 40% loss on a short, they are being weenies on 10% shorts. From memory of the last cycle, VA haunts people for that loss, don’t know about private lenders.

You have pretty much predicted what will happen to your neighbors. There isn’t any good way out of this, that is why we are returning to having to qualify for loans. I ran their numbers on bankrate’s affordability calculator and with their income, factoring no debt other than a $300 car payment they qual for a max purchase price of 272k, had they stayed within their means they would be fine. Affordability calculators don’t use random numbers, they are formulas to predict successful repayment. They violated a fundamental economic rule and now the rule has come back to violate them. (that last one liner was for SD, ask and ye shall receive).

[temeculaguy]

MDAL, I could easily be wrong but the cap gains is only for short sales, a repo will leave the original buyer with a judgement for the 200k loss to the lender not a tax gain, then bk dodges the judgement. Having never walked away or sold short, purely speculation from what others have told me. Lenders will likely never take a 40% loss on a short, they are being weenies on 10% shorts. From memory of the last cycle, VA haunts people for that loss, don’t know about private lenders.

You have pretty much predicted what will happen to your neighbors. There isn’t any good way out of this, that is why we are returning to having to qualify for loans. I ran their numbers on bankrate’s affordability calculator and with their income, factoring no debt other than a $300 car payment they qual for a max purchase price of 272k, had they stayed within their means they would be fine. Affordability calculators don’t use random numbers, they are formulas to predict successful repayment. They violated a fundamental economic rule and now the rule has come back to violate them. (that last one liner was for SD, ask and ye shall receive).

[temeculaguy]

MDAL, I could easily be wrong but the cap gains is only for short sales, a repo will leave the original buyer with a judgement for the 200k loss to the lender not a tax gain, then bk dodges the judgement. Having never walked away or sold short, purely speculation from what others have told me. Lenders will likely never take a 40% loss on a short, they are being weenies on 10% shorts. From memory of the last cycle, VA haunts people for that loss, don’t know about private lenders.

You have pretty much predicted what will happen to your neighbors. There isn’t any good way out of this, that is why we are returning to having to qualify for loans. I ran their numbers on bankrate’s affordability calculator and with their income, factoring no debt other than a $300 car payment they qual for a max purchase price of 272k, had they stayed within their means they would be fine. Affordability calculators don’t use random numbers, they are formulas to predict successful repayment. They violated a fundamental economic rule and now the rule has come back to violate them. (that last one liner was for SD, ask and ye shall receive).

[temeculaguy]

Patient renter, kudos for using “cogent” in a post, a perfect ten from the judges. PB, also don’t respond directly to insults by naming the poster, that never works because it fires up the yahoos and sometimes they aren’t a yahoo who can and will fire back with a cogent argument (that was for Patient renter). Some of the ones you engaged were big guns, better to just keep walking sometimes. But do stick around.

SD, don’t get me started on title reps, oooohhh. I can’t believe Playboy hasn’t had a title rep edition.

[temeculaguy]

Patient renter, kudos for using “cogent” in a post, a perfect ten from the judges. PB, also don’t respond directly to insults by naming the poster, that never works because it fires up the yahoos and sometimes they aren’t a yahoo who can and will fire back with a cogent argument (that was for Patient renter). Some of the ones you engaged were big guns, better to just keep walking sometimes. But do stick around.

SD, don’t get me started on title reps, oooohhh. I can’t believe Playboy hasn’t had a title rep edition.

[temeculaguy]

Patient renter, kudos for using “cogent” in a post, a perfect ten from the judges. PB, also don’t respond directly to insults by naming the poster, that never works because it fires up the yahoos and sometimes they aren’t a yahoo who can and will fire back with a cogent argument (that was for Patient renter). Some of the ones you engaged were big guns, better to just keep walking sometimes. But do stick around.

SD, don’t get me started on title reps, oooohhh. I can’t believe Playboy hasn’t had a title rep edition.

[temeculaguy]

Don’t hold your breath for these to hold up, the pain train doesn’t have a scheduled stop in the higher end areas scheduled until at least winter and daily stops in 2008, but rest assured it’s first stop in that demographic will be 4-S, it’s all about the fact they were built during the bubble years. What was that saying about 40-4-4, 40% of the people who bought their homes in the last four years will lose them in the next four years. Biggest negative overshoots will occur in neighborhoods built from 2002 to 2006.

[temeculaguy]

Don’t hold your breath for these to hold up, the pain train doesn’t have a scheduled stop in the higher end areas scheduled until at least winter and daily stops in 2008, but rest assured it’s first stop in that demographic will be 4-S, it’s all about the fact they were built during the bubble years. What was that saying about 40-4-4, 40% of the people who bought their homes in the last four years will lose them in the next four years. Biggest negative overshoots will occur in neighborhoods built from 2002 to 2006.

[temeculaguy]

Don’t hold your breath for these to hold up, the pain train doesn’t have a scheduled stop in the higher end areas scheduled until at least winter and daily stops in 2008, but rest assured it’s first stop in that demographic will be 4-S, it’s all about the fact they were built during the bubble years. What was that saying about 40-4-4, 40% of the people who bought their homes in the last four years will lose them in the next four years. Biggest negative overshoots will occur in neighborhoods built from 2002 to 2006.

[temeculaguy]

Well I am perfectly fine sticking to my guns that the Mouton will beat the Coppola (actually the 85 is a ruse and can be had for $200, the 86 will set you back a grand), but if Alan has a regional pallate, I’ll oblige. Alan, if the world ever does go to hell in a handbasket, e-mail me and I’ll prepare a list, Dinty Moore beef stew/73 stags leap, spam/95 margaux, still working on the beef jerky and twinkie pairings, I’m partial to the 20 year tawneys but if the remmie discount applies there are some sautuernes I think will just set off the flavor of the cream filling.

[temeculaguy]

Well I am perfectly fine sticking to my guns that the Mouton will beat the Coppola (actually the 85 is a ruse and can be had for $200, the 86 will set you back a grand), but if Alan has a regional pallate, I’ll oblige. Alan, if the world ever does go to hell in a handbasket, e-mail me and I’ll prepare a list, Dinty Moore beef stew/73 stags leap, spam/95 margaux, still working on the beef jerky and twinkie pairings, I’m partial to the 20 year tawneys but if the remmie discount applies there are some sautuernes I think will just set off the flavor of the cream filling.

[temeculaguy]

Well I am perfectly fine sticking to my guns that the Mouton will beat the Coppola (actually the 85 is a ruse and can be had for $200, the 86 will set you back a grand), but if Alan has a regional pallate, I’ll oblige. Alan, if the world ever does go to hell in a handbasket, e-mail me and I’ll prepare a list, Dinty Moore beef stew/73 stags leap, spam/95 margaux, still working on the beef jerky and twinkie pairings, I’m partial to the 20 year tawneys but if the remmie discount applies there are some sautuernes I think will just set off the flavor of the cream filling.

[temeculaguy]

Well pencil me in for the next meet up, lets see, I can watch Rustico kick Josh’s ass, I know what type of ammo to bring Alan and I know that I love chef boyardee, salt and toilet paper, in that order. Looking at the menu I’m thinking an 85 Mouton would be the perfect pairing for beefaroni and shotguns, let me check the cellar.

[temeculaguy]

Well pencil me in for the next meet up, lets see, I can watch Rustico kick Josh’s ass, I know what type of ammo to bring Alan and I know that I love chef boyardee, salt and toilet paper, in that order. Looking at the menu I’m thinking an 85 Mouton would be the perfect pairing for beefaroni and shotguns, let me check the cellar.

[temeculaguy]

Well pencil me in for the next meet up, lets see, I can watch Rustico kick Josh’s ass, I know what type of ammo to bring Alan and I know that I love chef boyardee, salt and toilet paper, in that order. Looking at the menu I’m thinking an 85 Mouton would be the perfect pairing for beefaroni and shotguns, let me check the cellar.

[Author]

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