Search results

What I find interesting is that according to the Constitution you have to be 35 years old to be President. Evidently the only problem the framers of the Constitution saw with age was with being too young, not being too old. LOL! What I'm wondering here is whether the ignorant comments you...

This wouldn't surprise me at all. The other possibility is that he doesn't show at all. What I find interesting is that in the month of April (so far) we have had 3 distinct swing moves....50 points up, 65 points down, and 70 points up. Catching any one of those moves with even 1 contract...

LOL! Hey Gary, thanks for an excellent and timely post. OldTrader

You guys are aware that IB shuts down for maintenance over the weekend, right? Comes back up after noon on Sunday? OldTrader

Just so that everyone following along here knows what we're talking about, here's what you said in your last post: Now it evidently appears that you are unable to locate a single example of this on a residential mortgage. And so that everyone else is not a victim of your misinformation...

LOL! No, a mortgage does not convey legal title to the lender. A mortgage is simply the security instrument for the debt. In the case of default in the payments, the lender typically files a lawsuit to foreclose, called a judicial foreclosure. This is about half the states. Each state may...

OK, well since you "did your homework", let's have it. Lets see your example of the acceleration of a loan due to a changing LTV. Make sure it's a residential loan, since that's what we're talking about. Please provide link. OldTrader

Let me get this straight. You are completely wrong about your statement concerning mortgages being called, you admit it, and then you're gonna tell me to "do my homework"? LOL! Let me submit this possibility to you. Maybe all of your assertions are wrong. Did that ever occur to you...

No, this isn't true either. Easy enough to prove your point though....just provide a link. OldTrader

Nope, they don't have the right. One way you can prove this to yourself is just go read a standard FNMA mortgage. You will discover no such term in the mortgage. Here's one place you can read the mortgage...

No, this is not true. Not on a residential mortgage. This is simply a matter of contracts. There is no provision in any residential loan that contains a term such as this. Period. OldTrader

There are some circumstances where a loan could be called. What they all have in common is that it is one of the terms agreed to by the borrower and the lender, in advance. For instance, a commercial line might be withdrawn and/or called if the borrower (a business) violated certain financial...

I'll guarantee you it isn't 6 months. In fact, if it's fraud, I don't know if there is a statute of limitations. OldTrader

Nope. You're completely wrong. Residential mortgages cannot be called because they are sold. And no, it has never been done. The only reason a residential mortgage can be called is if the borrower defaults on the note. You can do that by not paying the monthly payment. There are other ways...

At what point does one "own" their home? Legally, one owns it the instant the deed is executed and recorded. The size of the mortgage and/or the amount of equity don't change legal ownership. The way it is referred to legally is that you own the property "subject to the mortgage". You...

I don't trade stocks on margin these days. And I really don't know how IB applies the margin rules. But, I would say this: There should be more to IB's calculation than what you state here. The reason is that if I buy stock today, and by the close it is where I bought it, then I am within...

Yep...there has never been a lending crisis that the stupidity of the bankers was not at the heart of it. But to make matters worse, why not make this 0 down loan, with no protection legally, to a guy with a history of not paying? LOL! Now here's the really crazy part. Sell this same loan...

Gnome: Did you read my post about mortgages in California? A lender who makes a no money down, purchase money loan in California cannot seek a deficiency judgment. Period. That's what the California law states. A lender cannot seek a deficiency judgement on any purchase money loan...

What the lenders will do about it is what they have already done...run to the federal government for a bailout. That said, what they will have to do in the future is make responsible loans. For instance, you require a down payment. People who have something to lose don't typically walk...

In California the lender may not pursue a deficiency judgment if the loan is a purchase money loan (the loan used to buy the house as opposed to a refinance). Further, in California, if the lender wished to avail themselves of a non-judicial foreclosure as opposed to a judicial foreclosure...