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ucodegen
Participant2) Why do people have have such visceral negative reactions to dropping house values?
MEW. Mortgage Equity Withdraw? People living beyond their means by using the funny money within their home.. When the prices drop, their ability to withdraw that equity ceases.
Participant2) Why do people have have such visceral negative reactions to dropping house values?
MEW. Mortgage Equity Withdraw? People living beyond their means by using the funny money within their home.. When the prices drop, their ability to withdraw that equity ceases.
ParticipantAssuming that the OP knows their rate, they have an impound account of $505, which is what I already factored into my comment above. It’s not fishy at all…
and you don’t pay “points” in a monthly payment.I was assuming the guy was talking about only the P/I (actually I in this case) portion of the costs, not the impound account for property taxes/insurance. Considering California at 1%, it may be a bit short for combined property taxes/insurance.. PMI too??
As for points, I was referring to amount added in for financing. The advertised/listed rate might have been 6.35%, but depending upon how financed.. there may have been points added. Too many people don’t go through their own loan documents and actually read them.
Note to the gallery on impound accounts:
http://www.escrowhelp.com/articles/19990604.htmlMost loans that have a prepayment penalty allow for paying up to 20% of principal per year without any penalty, so there is never a problem paying an extra payment here or there.
I have seen more than one that has a severe prepayment penalty on any percentage. One of these was a Countrywide origination… In fact, on that one, the period for prepayment penalty was something like 7 years.ParticipantAssuming that the OP knows their rate, they have an impound account of $505, which is what I already factored into my comment above. It’s not fishy at all…
and you don’t pay “points” in a monthly payment.I was assuming the guy was talking about only the P/I (actually I in this case) portion of the costs, not the impound account for property taxes/insurance. Considering California at 1%, it may be a bit short for combined property taxes/insurance.. PMI too??
As for points, I was referring to amount added in for financing. The advertised/listed rate might have been 6.35%, but depending upon how financed.. there may have been points added. Too many people don’t go through their own loan documents and actually read them.
Note to the gallery on impound accounts:
http://www.escrowhelp.com/articles/19990604.htmlMost loans that have a prepayment penalty allow for paying up to 20% of principal per year without any penalty, so there is never a problem paying an extra payment here or there.
I have seen more than one that has a severe prepayment penalty on any percentage. One of these was a Countrywide origination… In fact, on that one, the period for prepayment penalty was something like 7 years.ParticipantAssuming that the OP knows their rate, they have an impound account of $505, which is what I already factored into my comment above. It’s not fishy at all…
and you don’t pay “points” in a monthly payment.I was assuming the guy was talking about only the P/I (actually I in this case) portion of the costs, not the impound account for property taxes/insurance. Considering California at 1%, it may be a bit short for combined property taxes/insurance.. PMI too??
As for points, I was referring to amount added in for financing. The advertised/listed rate might have been 6.35%, but depending upon how financed.. there may have been points added. Too many people don’t go through their own loan documents and actually read them.
Note to the gallery on impound accounts:
http://www.escrowhelp.com/articles/19990604.htmlMost loans that have a prepayment penalty allow for paying up to 20% of principal per year without any penalty, so there is never a problem paying an extra payment here or there.
I have seen more than one that has a severe prepayment penalty on any percentage. One of these was a Countrywide origination… In fact, on that one, the period for prepayment penalty was something like 7 years.ParticipantAssuming that the OP knows their rate, they have an impound account of $505, which is what I already factored into my comment above. It’s not fishy at all…
and you don’t pay “points” in a monthly payment.I was assuming the guy was talking about only the P/I (actually I in this case) portion of the costs, not the impound account for property taxes/insurance. Considering California at 1%, it may be a bit short for combined property taxes/insurance.. PMI too??
As for points, I was referring to amount added in for financing. The advertised/listed rate might have been 6.35%, but depending upon how financed.. there may have been points added. Too many people don’t go through their own loan documents and actually read them.
Note to the gallery on impound accounts:
http://www.escrowhelp.com/articles/19990604.htmlMost loans that have a prepayment penalty allow for paying up to 20% of principal per year without any penalty, so there is never a problem paying an extra payment here or there.
I have seen more than one that has a severe prepayment penalty on any percentage. One of these was a Countrywide origination… In fact, on that one, the period for prepayment penalty was something like 7 years.ParticipantAssuming that the OP knows their rate, they have an impound account of $505, which is what I already factored into my comment above. It’s not fishy at all…
and you don’t pay “points” in a monthly payment.I was assuming the guy was talking about only the P/I (actually I in this case) portion of the costs, not the impound account for property taxes/insurance. Considering California at 1%, it may be a bit short for combined property taxes/insurance.. PMI too??
As for points, I was referring to amount added in for financing. The advertised/listed rate might have been 6.35%, but depending upon how financed.. there may have been points added. Too many people don’t go through their own loan documents and actually read them.
Note to the gallery on impound accounts:
http://www.escrowhelp.com/articles/19990604.htmlMost loans that have a prepayment penalty allow for paying up to 20% of principal per year without any penalty, so there is never a problem paying an extra payment here or there.
I have seen more than one that has a severe prepayment penalty on any percentage. One of these was a Countrywide origination… In fact, on that one, the period for prepayment penalty was something like 7 years.ParticipantThe most important thing to do when considering doing a different payment schedule, is look at the loan documents. There may be a prepayment penalty or fee for pre-paying. The penalty may only last for an initial few years. The terms of the mortgage may be explicit as to when you pay, and you may not be able to alter the terms without additional fees.
If you can’t alter the payment terms to allow accelerated paydown of the mortgage, place the difference in a separate account rolling them over into laddered CDs. If you feel more brave, try investing some of the money in mutual funds or stocks (do your own research on which to invest in, don’t trust the suggestions by most of the ‘pros’.)
You may want to check your mortgage. Something is fishy on your payment. You are either paying some serious points or something. A fixed 6.35% I/O on $475,000 should only have a monthly payment of about $2513.54 until it goes amortizing at the end of the 10 year period.
rate / 12 * 475,000 = 2513.54
rate = rate_pct/100 = 6.35/100
ParticipantThe most important thing to do when considering doing a different payment schedule, is look at the loan documents. There may be a prepayment penalty or fee for pre-paying. The penalty may only last for an initial few years. The terms of the mortgage may be explicit as to when you pay, and you may not be able to alter the terms without additional fees.
If you can’t alter the payment terms to allow accelerated paydown of the mortgage, place the difference in a separate account rolling them over into laddered CDs. If you feel more brave, try investing some of the money in mutual funds or stocks (do your own research on which to invest in, don’t trust the suggestions by most of the ‘pros’.)
You may want to check your mortgage. Something is fishy on your payment. You are either paying some serious points or something. A fixed 6.35% I/O on $475,000 should only have a monthly payment of about $2513.54 until it goes amortizing at the end of the 10 year period.
rate / 12 * 475,000 = 2513.54
rate = rate_pct/100 = 6.35/100
ParticipantThe most important thing to do when considering doing a different payment schedule, is look at the loan documents. There may be a prepayment penalty or fee for pre-paying. The penalty may only last for an initial few years. The terms of the mortgage may be explicit as to when you pay, and you may not be able to alter the terms without additional fees.
If you can’t alter the payment terms to allow accelerated paydown of the mortgage, place the difference in a separate account rolling them over into laddered CDs. If you feel more brave, try investing some of the money in mutual funds or stocks (do your own research on which to invest in, don’t trust the suggestions by most of the ‘pros’.)
You may want to check your mortgage. Something is fishy on your payment. You are either paying some serious points or something. A fixed 6.35% I/O on $475,000 should only have a monthly payment of about $2513.54 until it goes amortizing at the end of the 10 year period.
rate / 12 * 475,000 = 2513.54
rate = rate_pct/100 = 6.35/100
ParticipantThe most important thing to do when considering doing a different payment schedule, is look at the loan documents. There may be a prepayment penalty or fee for pre-paying. The penalty may only last for an initial few years. The terms of the mortgage may be explicit as to when you pay, and you may not be able to alter the terms without additional fees.
If you can’t alter the payment terms to allow accelerated paydown of the mortgage, place the difference in a separate account rolling them over into laddered CDs. If you feel more brave, try investing some of the money in mutual funds or stocks (do your own research on which to invest in, don’t trust the suggestions by most of the ‘pros’.)
You may want to check your mortgage. Something is fishy on your payment. You are either paying some serious points or something. A fixed 6.35% I/O on $475,000 should only have a monthly payment of about $2513.54 until it goes amortizing at the end of the 10 year period.
rate / 12 * 475,000 = 2513.54
rate = rate_pct/100 = 6.35/100
ParticipantThe most important thing to do when considering doing a different payment schedule, is look at the loan documents. There may be a prepayment penalty or fee for pre-paying. The penalty may only last for an initial few years. The terms of the mortgage may be explicit as to when you pay, and you may not be able to alter the terms without additional fees.
If you can’t alter the payment terms to allow accelerated paydown of the mortgage, place the difference in a separate account rolling them over into laddered CDs. If you feel more brave, try investing some of the money in mutual funds or stocks (do your own research on which to invest in, don’t trust the suggestions by most of the ‘pros’.)
You may want to check your mortgage. Something is fishy on your payment. You are either paying some serious points or something. A fixed 6.35% I/O on $475,000 should only have a monthly payment of about $2513.54 until it goes amortizing at the end of the 10 year period.
rate / 12 * 475,000 = 2513.54
rate = rate_pct/100 = 6.35/100
ParticipantHaven’t decided if the extra $100 would be well spent on the 12.1mp versus 8mp, especially with these point and shoot, I suspect there’s a limit how effective a higher res camera would be beyond 6mp.
As you go to a higher resolution on same size sensor chip, you run into ISO noise issues. You are trying to capture light with a smaller cell within the chip. To do this, the gain on the op-amps has to be pushed up. Any noise or even quantization noise gets magnified. DPreview shows both the resolution and sensor size. They also run noise analysis.
One thing I did notice is that the SD950IS(12Mpixel) has a larger sensor (1/1.7″) vs the SD850IS(1/2.5″)(8Mpixel). This would mean that the SD950IS will do as well or better in low light and the flash response would be better (would not need as bright a flash).
SD850IS photo sensor cell is 2.2um across
SD950IS photo sensor cell is 2.2um acrossIf you are shooting 4×6, anything over about 4Mpixel doesn’t add anything. If you want to print an 8×10, larger resolution does matter. I have a 12Mpixel DSLR and a friend of mine has a 6Mpixel DSLR. The difference is quite noticeable. on 8x10s.
I’m sort of bummed that it’s getting harder to find simple point and shoot that take the compact flash format. I hate memory sticks and SD cards are yet another format I need to stock now.
I agree here.. for the heck of it, I checked if my old point and shoot was still available.. it is and they are asking insane prices for it now, much more than what I paid. It does take CF (as do my other digitals).
ParticipantHaven’t decided if the extra $100 would be well spent on the 12.1mp versus 8mp, especially with these point and shoot, I suspect there’s a limit how effective a higher res camera would be beyond 6mp.
As you go to a higher resolution on same size sensor chip, you run into ISO noise issues. You are trying to capture light with a smaller cell within the chip. To do this, the gain on the op-amps has to be pushed up. Any noise or even quantization noise gets magnified. DPreview shows both the resolution and sensor size. They also run noise analysis.
One thing I did notice is that the SD950IS(12Mpixel) has a larger sensor (1/1.7″) vs the SD850IS(1/2.5″)(8Mpixel). This would mean that the SD950IS will do as well or better in low light and the flash response would be better (would not need as bright a flash).
SD850IS photo sensor cell is 2.2um across
SD950IS photo sensor cell is 2.2um acrossIf you are shooting 4×6, anything over about 4Mpixel doesn’t add anything. If you want to print an 8×10, larger resolution does matter. I have a 12Mpixel DSLR and a friend of mine has a 6Mpixel DSLR. The difference is quite noticeable. on 8x10s.
I’m sort of bummed that it’s getting harder to find simple point and shoot that take the compact flash format. I hate memory sticks and SD cards are yet another format I need to stock now.
I agree here.. for the heck of it, I checked if my old point and shoot was still available.. it is and they are asking insane prices for it now, much more than what I paid. It does take CF (as do my other digitals).
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