Speakeasy Posted January 29, 2008 Report Share Posted January 29, 2008 HousingPanic 640867[/snapback] HERE! HERE! I'll drink to that. Link to comment Share on other sites More sharing options...
ChicagoBear Posted January 29, 2008 Report Share Posted January 29, 2008 Thanks Doc for the Kudos. Here's a revised chart of FOMC meetings. Red arrows are rate cuts, green arrows are rate increases, blue arrows are no change, and black arrows show emergency rate cuts. I couldn't help but notice 2-4 people on the board. Must be a top. Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2008 Report Share Posted January 29, 2008 Tanks CB. I'll put the two posts together and post them in the AM. Link to comment Share on other sites More sharing options...
mdporter Posted January 29, 2008 Report Share Posted January 29, 2008 Mortgage Forgiveness Debt Relief Act of 2007Typically, discharged debt is considered ordinary income to the borrower for income tax purposes. The new law allows taxpayers to exclude this amount and thus escape the tax liability. Rewarding delinquents is equivalent to punishing honest people. 640862[/snapback] Just in time for all the foreclosures the pols knew were coming: The new law extends a one-year deduction of mortgage insurance premiums that was effective in 2007 for three more years, 2008, 2009 and 2010. That time frame means the deduction is allowable only for mortgage insurance on loans that were originated after Dec. 31, 2006, and before Jan. 1, 2011, unless the tax break is further extended in the future. Link to comment Share on other sites More sharing options...
shorty Posted January 29, 2008 Report Share Posted January 29, 2008 Vacant San MexDiego Houses Attracting Crime The investigation into Ahlyja Pinson's death is continuing, Levikow said. The victim -- who was beaten and stabbed -- was found Dec. 31 by a homeless man in the abandoned Golden Hill home in the 2900 block of E Street, which has been frequented by squatters and drug users, said San MexDiego police Lt. Manny Guaderrama. Link to comment Share on other sites More sharing options...
shorty Posted January 29, 2008 Report Share Posted January 29, 2008 $half-million tax-free scam Fire Insurance Fraud, Obvious Collusion with Investigators The non-injury blaze erupted shortly after 9 a.m. and was blamed on a candle. It took firefighters roughly 15 minutes to subdue the flames. The fire damage was confined to two second-story bedrooms. Investigators set the monetary losses at $300,000 to the structure and $200,000 to contents. HORSE SHIT! Link to comment Share on other sites More sharing options...
FauxCaster Posted January 29, 2008 Report Share Posted January 29, 2008 yeah, and try typing something about the market being "over-sold". The proprietor has a weird sense of humor. He's been laughing at the same jokes for 7 years. 640846[/snapback] I don't know what you're talking about doc. I can type cnbc and over sold. Link to comment Share on other sites More sharing options...
FauxCaster Posted January 29, 2008 Report Share Posted January 29, 2008 I've been reading through this Herb Greenberg blog regarding raising the "conforming loan" limits from 417K to something north of $600k. My initial reaction is that there is desperation to get that higher limit, in the belief that raising the limit will save California purchasers and allow people to refinance, etc. Also saw some crazy claims made, like everyone in socal has a household income of $150K or more, that people need stated income loans because they are self employed and can't prove income (hello, tax returns), yada yada. I can't imagine the panic that will be in place six to twelve months from now. 640847[/snapback] The dirty secret is it is not for NEW purchases but all the existing idiot "prime" interest only loans resetting on jumbo mortgages. They all know the entire state will be in foreclosure if they can't get somebody to re-fi the Clownifornicators and somebody would never put their own money on the line, so we need the GSEs to foot the bill. Link to comment Share on other sites More sharing options...
Jimbo Posted January 29, 2008 Report Share Posted January 29, 2008 CALIFORNIAN KAMIKAZE Mac and Mae that delightful old couple will be loaded into a 1944 vintage zero towing napalm filled balloons to the inland empire. You know what happens next Not pretty, not pretty at all. Will the emporer president give them a medal (pothumously of course) The order of the jumbo alt A burning suburb. Any body with brains is dumping their Freddie and Fannie paper right now. Link to comment Share on other sites More sharing options...
shorty Posted January 29, 2008 Report Share Posted January 29, 2008 Apparently the Crammer's keepers have ordered him to pump NOK so they can dump it. From this I conclude that a settlement is near, very good news for that related stock I've mentioned a couple times. Link to comment Share on other sites More sharing options...
Jimbo Posted January 29, 2008 Report Share Posted January 29, 2008 FADING CREAMER IS ALWAYS THE BEST TRADE Obviously NOK a short Link to comment Share on other sites More sharing options...
FauxCaster Posted January 29, 2008 Report Share Posted January 29, 2008 CALIFORNIAN KAMIKAZE Mac and Mae that delightful old couple will be loaded into a 1944 vintage zero towing napalm filled balloons to the inland empire. You know what happens next Not pretty, not pretty at all. Will the emporer president give them a medal (pothumously of course) The order of the jumbo alt A burning suburb. Any body with brains is dumping their Freddie and Fannie paper right now. 640881[/snapback] check out russ winter's post on the subject http://wallstreetexaminer.com/blogs/winter/?p=1365 Link to comment Share on other sites More sharing options...
Jimbo Posted January 29, 2008 Report Share Posted January 29, 2008 HOW TO BUY A HOUSE CALIFORNIAN STYLE Step 1:Buy house for $500,000 Step 2: Each time it goes up $100,000 in value do a heloc and hide $100,00 under matress Step 3: When house value starts to fall walk away from loan or do short sale. Step 4: Use matress HELOC money to pay cash for house across the street. or : buy old house at foreclosure/ short sale using dummy buyer. End result: House for free Link to comment Share on other sites More sharing options...
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