Forum Replies Created
-
AuthorPosts
-
August 4, 2007 at 11:28 AM in reply to: August 17, 1981 HOUSING BOOM GOES BUST IN LOS ANGELES #70235August 4, 2007 at 11:28 AM in reply to: August 17, 1981 HOUSING BOOM GOES BUST IN LOS ANGELES #70312
waiting hawk
Participant“And, of course, all bubbles, in every commodity, whether it is land or stock or gold on tulips, always end some time. No matter how sure people are that their particular rocket will always go up and never come down, it always happens. A word to the wise. ——————————————————————— “
ParticipantEasy one: Have fun paying more till it goes back up to the bank while I have the money to give to the kids during those years.
ParticipantEasy one: Have fun paying more till it goes back up to the bank while I have the money to give to the kids during those years.
ParticipantI always understood as the first is purchase money and any HELOCS or 2nd’s are tied to the person almost as if it was like a credit card. Either way it is to late if they already foreclosed. If he really had that much equity why would he let it go? Does he have mental issues?
ParticipantI always understood as the first is purchase money and any HELOCS or 2nd’s are tied to the person almost as if it was like a credit card. Either way it is to late if they already foreclosed. If he really had that much equity why would he let it go? Does he have mental issues?
Participantits to late. That 2nd is going to be with him for a long time as the 1st is tied to the house, the 2nd is tied to him. If they sue he could still have to pay back that second even though he would be gone from there. I’m bettin that the mirage of 100k equity was long gone before the default started.
Participantits to late. That 2nd is going to be with him for a long time as the 1st is tied to the house, the 2nd is tied to him. If they sue he could still have to pay back that second even though he would be gone from there. I’m bettin that the mirage of 100k equity was long gone before the default started.
ParticipantUnless your name is Kerry and work for Cent. 21 you are SOL I guess.
ParticipantUnless your name is Kerry and work for Cent. 21 you are SOL I guess.
Participant“self-induced recession”
Wow I love it. That is what we have been in last 3 years. I am moving on Saturday (remember the cops out front photo with the idiot next door guy) and bought new furniture. Nobody was buying furniture while we were and got some great deals. Damn it felt good buying when nobody else was. I spent a few thousand and almost had a heart attack. I am very cheap but I had the same furniture from 11 years ago and it should have been thrown away 11 years ago.
Participant“self-induced recession”
Wow I love it. That is what we have been in last 3 years. I am moving on Saturday (remember the cops out front photo with the idiot next door guy) and bought new furniture. Nobody was buying furniture while we were and got some great deals. Damn it felt good buying when nobody else was. I spent a few thousand and almost had a heart attack. I am very cheap but I had the same furniture from 11 years ago and it should have been thrown away 11 years ago.
Participantyoutube sucks on quality but here it is if you don’t have quicktime.
Participantyoutube sucks on quality but here it is if you don’t have quicktime.
ParticipantHere is the email they sent me after my very negative email sent to them:
“In response to media reports about risky collateralized debt obligations
(CDOs), or packages of securities backed by bonds, mortgages and other
loans. There have been related news stories about borrowers defaulting
on loans to put these investments at risk. At least one article
suggested that banks who sold these securities to CalPERS were trying to
put something over on us.Here is our response:
CalPERS owns $140 million in CDOs. The facts are:
1. None of these CalPERS investments are tied to the sub-prime market
that is having problems.2. These investments are top-rated bank loans that are doing extremely
well.3. Our CDO investment represents less than .1 % of CalPERS assets. There
are plans to expand our investment in this area in about 1-2 years. It
requires a big quantitative effort which we hope to build over the next
few years. We have purposely kept this program small until we get those
capabilities. We are collecting data and will forward information as it
is completed.4. We are well protected and not at risk. We are not exposed to the Bear
Stearns meltdown.Clark McKinley
Information Officer
CalPERS Office of Public Affairs
916/795-4196; fax: 916/795-3507” -
AuthorPosts
