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the only broker who would write you that loan left for mexico in September or jumped off a bridge on the Marlton pike ---- that kind of nonsense has been wrung out of the market IMHO we used to see a whole section of every major lenders rate sheet titled 'sub-prime' those sections of...

You know - in the market Im in - in NC -- we never really saw the wild appreciation that markets like CA, NY & FLA experienced But even in those markets --- ifyou had a house that was worth 500K 5 years ago - and it went up to 1.2 M in 2006 and then back to 750K in 2008---- you still havent...

The problem with the mortgage brokerage business in general is there are so many scumbags in the business it makes us all look like used car salemen who have no teeth! :-)

Speaking as a boomer (born 1957) I saw the volatility start in July (sittin in the airport in Denver) and put 5 IRA accounts into cash -- for exactly this type of reasoning been in cash ever since I have decided I can keep the money in cash, avoid the vagaries of market swings --- and...

Property Value $600,000 Loan Amount $400,000 Equity $200,000 Interest Rate 5.7500% LTV 67% P&I $2,334.29 the rest of course depends on property taxes, insurance, homeowner dues etc etc etc If you were in NC I could fix...

I heard Steve Forbes give a talk a couple months ago. He made one simple point .... He said --- if you want to figure out if the FED is printing too much money - watch the price of gold food for thought

Yeah - you know Ive found that learning all of this takes alot of time --- I read for almost 4 months and watched charts --- and am now confident enough to trade 1 YM contract at a time Ultimately I would like to do options too --- but man it takes time to piece this stuff together and not...

We tell people about resetting the amortization scheduled. The main audience right now is folks who signed the note in 06 and 07 when rates were higher We pay closing costs out of the yield spread --- can't do it for everyone - but when we can its WIN-WIN I get alot of people who don't...

Im looking at the ZG8G futures contract for the leverage and the cost. I don't understand options well enough to trade them

well thats ok --- I don't think I put it there -- but that seems like a good place. and Im pretty new to this -- learning the setups from books --- so I understand the reasoning behind the setup --- but watching it and acting on it are 2 different things I am actively trading gaps and...

I lost a whole lot of money historically because I thought I knew what was gonna happen next not getting back on that wagon personally But I understand your point

in my prior post I mistyped 'loan offers' and did not want to stir confusion

Sure - and I have only ever banked at the local credit union - my wife started the account when she was in graduate school ---- much better than the commercial banks -- I a dare say probably in better financial shape at this point

if they can keep the inflation rate problem to a year or 2 --- maybe no big deal but take a 2.9% inflation rate - change it to 4% and run it out 20 years and watch what happens

Hey moderator, My post on shorting gold disappeared ....... Was it too dumb an idea to even keep on the board? thanks

and Im perfectly happy with a 1-1&3/8 yield spread actually happy at 3/4 of a point becaue its a pretty simple transaction

Yeah - we have been writing no-cost refis at a mile a minute pace--- the partner in my shop had 28 on the board last week I original posted as food for thought since the guts of the sub-prime problem are the 2million odd ARMs that are 'supposed' to reset in 08 now if Im a guy sitting...

'loan officers'

Not at all -- we encourage people to shop around - and they can always call the lender directly. We have access to the wholesale product lines of most of the originators - and we are not compelled to pitch any particular product ---- no disrespect on my part either - but I often see the...

Ask them for a GFE and you might notice that they have a 1 point fee as a discount point if you were in NC and you qualified - I could re-fi you at no closing costs ---i.e -- your loan amount would not go up and you would not bring a checkbook to the closing table