cwd Posted March 19, 2007 Report Share Posted March 19, 2007 CNN Money - Your Home: 5 tips if you're in too deep 1. Sue the homebuilder 2. Sue the real estate agent 3. Sue the mortgage broker 4. Demand a government handout 5. If none of the above work, then burn your home to the ground for the insurance proceeds. Most importantly, remember it's not your fault.? Someone else is always to blame. 569065[/snapback] From the link... NEW YORK (Money Magazine) -- Bo and Ana Apostolache loved their three-bedroom home on a cul-de-sac near Irvine, Calif. when they bought it six years ago. Best of all, they could easily cover the $1,400 monthly payments on their $175,000 mortgage. Over the next few years, as interest rates dropped and their home price tripled in value, the couple refinanced several times and tapped $200,000 worth of equity to pay for home improvements - and a Barbados vacation.... A year later, their rate adjusted up, adding another $400 in monthly payments, and Bo lost his job as a mortgage broker . Out of desperation, the Apostolaches took a $200,000 home-equity line of credit, in part to help cover the payments, but then quickly realized they were in over their heads. ------------------------- Holy friggin' sheet!!!! They start out with a reasonable $175,000 in mortgage debt and turn it into a $600,000 rathole......WOW!!!.....that's OK though, they're probably the only ones that did something so extreme. 569094[/snapback] And all the bad news is in. Bo, where are the matches? Link to comment Share on other sites More sharing options...
wndysrf Posted March 19, 2007 Author Report Share Posted March 19, 2007 Wow, new highs... Link to comment Share on other sites More sharing options...
wndysrf Posted March 19, 2007 Author Report Share Posted March 19, 2007 4:21 Currencies: Yen falls as carry trade resumes; Wall Street rallies Link to comment Share on other sites More sharing options...
mmoy Posted March 19, 2007 Report Share Posted March 19, 2007 Wow, new highs... 569106[/snapback] A friend has his house under contract. He put it on the market last summer. Dropped the price 4% and that brought in a few serious buyers. He probably would have been better off doing that last summer as then he wouldn't have had to pay carrying costs (property tax, electricity, heating, water) and he would have been able to make about $1,200 per month on interest with the money. What they say about cutting the price is true. BTW, I think that he's one of the lucky ones. He bought quite some time ago so he walks out with a nice profit. Link to comment Share on other sites More sharing options...
wndysrf Posted March 19, 2007 Author Report Share Posted March 19, 2007 mmoy: Link to comment Share on other sites More sharing options...
mdporter Posted March 19, 2007 Report Share Posted March 19, 2007 CNN Money - Your Home: 5 tips if you're in too deep 1. Sue the homebuilder 2. Sue the real estate agent 3. Sue the mortgage broker 4. Demand a government handout 5. If none of the above work, then burn your home to the ground for the insurance proceeds. Most importantly, remember it's not your fault.? Someone else is always to blame. 569065[/snapback] From the link... NEW YORK (Money Magazine) -- Bo and Ana Apostolache loved their three-bedroom home on a cul-de-sac near Irvine, Calif. when they bought it six years ago. Best of all, they could easily cover the $1,400 monthly payments on their $175,000 mortgage. Over the next few years, as interest rates dropped and their home price tripled in value, the couple refinanced several times and tapped $200,000 worth of equity to pay for home improvements - and a Barbados vacation.... A year later, their rate adjusted up, adding another $400 in monthly payments, and Bo lost his job as a mortgage broker . Out of desperation, the Apostolaches took a $200,000 home-equity line of credit, in part to help cover the payments, but then quickly realized they were in over their heads. ------------------------- Holy friggin' sheet!!!! They start out with a reasonable $175,000 in mortgage debt and turn it into a $600,000 rathole......WOW!!!.....that's OK though, they're probably the only ones that did something so extreme. 569094[/snapback] Getting into deeper debt, to pay off existing debt, is moronic. I'll bet the refi and the heloc were no doc, too. Was reading somewhere else about the loans for people who "can't verify their income". People are asking why the people can't provide tax returns that show their income. Probably because they aren't paying their taxes! Layers upon layers upon layers of fraud still to be uncovered. The FBI/IRS isn't nearly large enough to investigate all the potential cases. Link to comment Share on other sites More sharing options...
wndysrf Posted March 19, 2007 Author Report Share Posted March 19, 2007 RMBS bonering up 5% AH. Shorts are getting squeezed. What else is new in overliquified markets? Link to comment Share on other sites More sharing options...
wndysrf Posted March 19, 2007 Author Report Share Posted March 19, 2007 This thing landed at LAX this morning. I'm going to the beach to watch it take off at 7:00pm. Link to comment Share on other sites More sharing options...
wndysrf Posted March 19, 2007 Author Report Share Posted March 19, 2007 5:06 [iCE] ICE: Look forward to meeting with CBOT management, advisers 5:07 [iCE] ICE: Confident definitive agreement can be reached within wk 5:06 [iCE] ICE 'pleased' CBOT agreed to talks on offer Link to comment Share on other sites More sharing options...
Bungster Posted March 19, 2007 Report Share Posted March 19, 2007 With Micron and Amgen (MU,AMGN) both large caps that have been staples in peoples portfolios heading down I have doubts about this market.... Anybody else? Link to comment Share on other sites More sharing options...
mmoy Posted March 19, 2007 Report Share Posted March 19, 2007 mmoy: 569109[/snapback] I checked AMTD and Etrade and they're showing $13.70. A few cents is nice but not a big deal. AMD is taking it's time heading south. I'd love a big move down but it doesn't look like it's going to happen soon. Q1 earnings should be a lot of fun. Intel has given some signs that they will end the price war in Q1 of 2008 but I'd guess that this would be contingent on AMD not going after what Intel thinks to be their marketshare. AMD has a lot of great technology lined up for the next two years. The question is whether or not they can execute and if their cash problems will hinder their execution. Link to comment Share on other sites More sharing options...
realist Posted March 19, 2007 Report Share Posted March 19, 2007 This thing landed at LAX this morning. I'm going to the beach to watch it take off at 7:00pm. 569112[/snapback] It's quite impressive actually. I saw it take off last year in Singapore. Too bad EADS can't seem to convince any US Airliners to buy the bohemeth just yet though.. Link to comment Share on other sites More sharing options...
mmoy Posted March 19, 2007 Report Share Posted March 19, 2007 This thing landed at LAX this morning. I'm going to the beach to watch it take off at 7:00pm. 569112[/snapback] It's quite impressive actually. I saw it take off last year in Singapore. Too bad EADS can't seem to convince any US Airliners to buy the bohemeth just yet though.. 569116[/snapback] Easy way to increase sales. Reallocate two of the screens. Put CNBS on one screen and QuoteTracker on the other. The problem is that the pilots would only want to fly during trading hours. Instead of talking about the weather to the passengers, they could discuss the technical patterns on AAPL and GOOG. Link to comment Share on other sites More sharing options...
crazy_ate Posted March 19, 2007 Report Share Posted March 19, 2007 The Stalking Horse When we see this guy.... Do this...... March 21, 2007: 4:15 PM EST By Paul R. La Monica, CNN/Money senior writer Fed cuts rates A quarter-point cut, with more 'measured' cuts likely. NEW YORK (CNN/Money) - The Federal Reserve cut short-term interest rates a quarter point Wednesday and said it expected to keep cutting rates at a "measured" pace -- but the central bank put investors on notice that it was growing less concerned about inflation. The central bank's policy-makers cut the federal funds rate, an overnight bank lending rate, from 5.25 percent to 5.00 percent, the first rate reduction in.... The shorts will be wingohockingmoyamensinged, and the Dow will be UP 400 point on the day.... Link to comment Share on other sites More sharing options...
Bungster Posted March 19, 2007 Report Share Posted March 19, 2007 The Stalking Horse When we see this guy.... Do this...... March 21, 2007: 4:15 PM EST By Paul R. La Monica, CNN/Money senior writer Fed cuts rates A quarter-point cut, with more 'measured' cuts likely. NEW YORK (CNN/Money) - The Federal Reserve cut short-term interest rates a quarter point Wednesday and said it expected to keep cutting rates at a "measured" pace -- but the central bank put investors on notice that it was growing less concerned about inflation. The central bank's policy-makers cut the federal funds rate, an overnight bank lending rate, from 5.25 percent to 5.00 percent, the first rate reduction in.... The shorts will be wingohockingmoyamensinged, and the Dow will be UP 400 point on the day.... 569118[/snapback] Link to comment Share on other sites More sharing options...
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