BrainKing - Forums de discussion (Politics)

Sujet: Re:

Artful Dodger: oh that's right, you are an educator

, seriously tho, and ARM is just a tool, as Czuch points out a long term buyer wants the stability of a fixed rate at a higher rate, it will be lower than an ARM in the long run while someone who will be in their house a short time or is flipping the house would be better suited with the ARM.
While banks should make this clear, it's not their fault that many people are not savvy about finances
Also remember that most lenders bundle and sell off loans and don't get hurt by people that default

21. Décembre 2008, 18:10:13

Home values double about every 10 years, so you buy a 200k house now, in 30 years it worth 1.6 million, who cares if you have not payed even one penny towards the principle, and you still owe the full 200k after the 30 years, you still have done alright and your payments were a few hundred dollars less every month, that pays for your car or whatever!

21. Décembre 2008, 18:08:15

Mort

Sujet: Re:

Vikings: They recon house prices here will fall possibly by upto 30%

21. Décembre 2008, 18:06:20

Sujet: Re:

Artful Dodger: Like vikes said, some people arent in their house very long, and want as low a payment as they can get, an arm gives them that lower rate and they are out of their house before it adjusts up.

Opposite with interest only... you are planning on being in the house for 30 years, you want as small apyment as possible, and you dont care about creating equity except that what you will get from your value going up over 30 years

21. Décembre 2008, 18:01:40

Sujet: Re:

Artful Dodger: So when I see someone on tv today telling me they are losing their home because of their arm, they are just lying, because rates right now are at all time lows and anyone with an arm is actually paying less now than when they bought the loan in the first case!

21. Décembre 2008, 18:00:08

Sujet: Re:

Czuch: Another factor in the interest rates is the equity to loan value, that is to say that if you have 20 percent equity in your home then you will pay a lower interest rate than if you have 5 percent,
another casualty of the bubble

21. Décembre 2008, 17:59:26

Sujet: Re:

Vikings: I agree, just because something is available does not make it the right way to go. Some people, an interest only loan is good, if you want low payments and dont care about equity, an arm may be good if you dont plan on having it too long or if you think rates are on the way down

I can agree with regulations that guarantee full discloser, not just in the fine print... but thats why we use mortgage brokers and dont just do to a bank ourselves looking for a loan. But a good broker will give you all the angles before they sell you a loan,and they should be required to as well

21. Décembre 2008, 17:56:25

Sujet: Re:

(V): That is a legitamit problem, a casualty of the market bubble that fortunately is hitting the high end homes more than the mid-low end homes

21. Décembre 2008, 17:53:50

Sujet: Re:

Artful Dodger: but dont interest rates of an arm go down when rates are low like now?

21. Décembre 2008, 17:52:50

Sujet: Re:

Artful Dodger: Thats not the fault of the Arm, Why didn't she simply refinance to a 30 year, she sure should be smart enough to know that going in, oh that'sright, you said she was in education, that explains it,

.
But seriously, An ARM is nothing more that a tool like a credit card it has to be used wisely, And unfortunately many people are not smart about finances

21. Décembre 2008, 17:51:03

Mort

Sujet: Re:

Czuch: It's not just that Czuch... But home owners (at least over here) are facing a negative equity problem where their house is worth less then what they paid for it.

Not good.

21. Décembre 2008, 17:48:48

Sujet: Re:

Artful Dodger: maybe i dont understand, but doesnt an arm mean that their rates adjust with the current rates? If so, with and arm their rates should actually be going down, if not at least where they started when they took the loan (maybe they can only go up but not down with the current rate?)

21. Décembre 2008, 17:45:47

Mort

Sujet: Re:

Artful Dodger: Of course the banking system needs regulating, not only that but all parts of the financial system. I mean.... I use to run a P/L dept and we had auditors every year.

But... governments have been quite happy to leave them as they are as it helps in the ol boom and bust economic policies that we've had to put up with.

... Maybe a ban on our governments using the B&B system would also be helpful.

21. Décembre 2008, 17:43:15

Sujet: Re:

Artful Dodger: I had an arm to purchase my first real estate, also no money down and no documents as well... I got 2 years of payment history and then refied into traditional 30 year with equity as a 20% down payment.

Point is, the sub prime worked for me, without it I would still be a renter, instead I now have an apartment building that pays for itself and a 3 br 2 1/2 bath home in the country with 2.6 acres (also bought with no money down)

anyway, not for everybody, and people have to make sure it works for them, be smart, but they do work for some people!

21. Décembre 2008, 17:38:47

Sujet: Re:

Artful Dodger: There is a good use for ARMs, one example is the bussiness man that transfers frequently but still wants to have his family live in a house, ARMs save that person a lot of money. It's the quotas that were pushed on the banks by the likes of ACORN that caused the trouble

21. Décembre 2008, 17:21:27

Why not part of the banks bail out is that they have to loan money to the cars, one bail out two winners!

20. Décembre 2008, 21:10:45

anastasia

Sujet: Re: bush is an idiot! Bailing out autos?

Tuesday: there is NO reason that it should not be returned...that is ridiculious to allow them to piss it away like that!
The auto industry...look at how many jobs would have been effected by the ripple effect of them going under......EVERYONE should be made to give up...EVERYONE...from the CEO's to the lineworkers.....I know,ohhh boo-hoo me...I have to give up $10.00 an hour (or what ever,just throwing a number out there) but lets see....$35.00 VERSUS ZERO cuz ya have no job! And it should be lower then THAT even...the guys in the military,cops,people like THAT deserve to make the big bucks,NOT someone standing for 8 hours a day gluing 2 pieces of plastic together!!

20. Décembre 2008, 20:56:57

anastasia

Sujet: Re: bush is an idiot! Bailing out autos?

Tuesday: right..which is why when they atarted doing that stuff with OUR money,they should have had the money taken right back from them.....WHY GIVE to them...why not lend to them as well?

20. Décembre 2008, 18:07:10

Sujet: Re: bush is an idiot! Bailing out autos?

Artful Dodger: thats because they get bonuses for making those loans and then they sell them off, a win-win for those banks

20. Décembre 2008, 18:06:14

Mort

Sujet: Re: bush is an idiot! Bailing out autos?

Artful Dodger: Nahhh I was merely commentating on how O'Reilly a confirmed republican suddenly left the party to look good for TV.

I wouldn't compare myself to O'Reilly... He's not always truthful.

And the rest..... Well.

20. Décembre 2008, 16:03:23

anastasia

Sujet: Re: bush is an idiot! Bailing out autos?

Czuch: I think the banks should NOT have been bailed out...the auto industry,yep,loaned money is good.....I have head a TON of "conditions" with this money going to the auto industry..but honestly,when they gave the money to the banks....I didn't hear of any conditions.....where there any and I just missed them on the biased news that I watch??

20. Décembre 2008, 14:57:14

Mort

Sujet: Re: bush is an idiot! Bailing out autos?

Artful Dodger: Gee Art, did you think us *cough**cough* independents (as O'Reilly likes to call himself

) don't agree always with the Pres, even if he is a republican.....

.... And It's not George that's wanting this is it amongst your government.

20. Décembre 2008, 07:50:25

Snoopy

Sujet: looks like its not just Bush

who gaves in to the car giants

http://www.bbc.co.uk/go/homepage/d/int/news/top/1/-/news/1/hi/uk/7793137.stm

20. Décembre 2008, 00:07:09

The Col

Sujet: Re: bush is an idiot! Bailing out autos?

Artful Dodger: You might be on to something

http://www.youtube.com/watch?v=CKmzGPIx4YQ

19. Décembre 2008, 23:15:03

Mort

"BMW's UK sales were down 41% in November. Mercedes were down 57%. "

19. Décembre 2008, 23:09:58

Mort

modifié par Mort (19. Décembre 2008, 23:10:18)

Mercedes Benz... 4 day week.
Honda has cut it's annual profit forecast by 62%
Jaguar are in talks over help....

It's GLOBAL.

19. Décembre 2008, 23:05:08

Mort

Sujet: Re: bush is an idiot! Bailing out autos?

Artful Dodger: ... National debt has been rising in your country for years.

And I thought the job of the government in the USA was to protect it's people from all enemies.. foriegn and internal/domestic.

A collapse of major industries in your country is not a good idea. It's not a case of can't compete.. the whole car industry is reporting significant downturns in sales.. some I hear over 30%

.. And please don't exaggerate.. Your gov ain't talking about bailing all out. Enough to make sure you have an economy that after this depression.. recession or whatever you call it is over.

... You don't want it like in the film "(V)" where America has gone to pot and collapsed into anarchy do you?

19. Décembre 2008, 22:52:07

Mort

Sujet: Re: bush is an idiot! Bailing out autos?

Czuch: Maybe... maybe not. But if no help is given then they will probably go under. And that will affect millions of workers. And as for private firms... What money spare do they have at the mo? Everyone is um.. making a mess in their pants over the current situation and who's gonna fall.

Two companies over that have been part of british culture for years are about to go and close. One couldn't even get someone to buy it for £1, the only condition was to they were to responsible for the debts. And this a chain of nearly 1000 shops.. you might now them.... Woolworths.

19. Décembre 2008, 22:47:03

Sujet: Re: bush is an idiot! Bailing out autos?

(V): I dont see how throwing good money after bad is going to solve or help anything? This is a delay tactic at best, and these companies will end up going under down the road, and we will never see any of our money back! If it is really such a good idea to help these companies out, then there would be plenty of private firms eagerly jumping in to get it done!

At least tell it like it is.... it will be better for these companies to go out of business at some other time than while we are in a recession, and that may be true, but dont make it sound like it is some sort of loan and that it is a magic pill and these companies will get better and pay us back with interest!

19. Décembre 2008, 22:33:33

Mort

Sujet: Re: bush is an idiot! Bailing out autos?

Czuch: It means both parties are agreeing that help is needed in your government.

After all.... It's no good the whole USA economy going down the tubes.

19. Décembre 2008, 22:29:07

Sujet: Re: bush is an idiot! Bailing out autos?

Jim Dandy: Does that mean that conservatives are the big government/bailout party now? Or that liberals are my brothers now because we all agrre that bailouts are wrong? Not quite sure?

19. Décembre 2008, 22:24:07

Mort

Sujet: Re: bush is an idiot! Bailing out autos?

Czuch: Nahhhh Can't hate Bush.. his policies yep. But especially after seeing the parody of him in a film recently... Let's just say it was funny.

19. Décembre 2008, 22:22:42

The Col

Sujet: Re: bush is an idiot! Bailing out autos?

Czuch: In the words of John Lennon:

"you'd better recognise your brothers"

19. Décembre 2008, 22:13:19

Sujet: bush is an idiot! Bailing out autos?

hahaha, there, I said it, happy now?

Well, at least Bushs popularity will rise dramatically among liberals!! No? Oh thats right, liberals hate him so much, even when he acts like a liberal they still wont like him!

19. Décembre 2008, 22:11:51

The Col

Sujet: Re:

Artful Dodger: What Nixon did is pretty minor,he just got caught.,People were just far more niave then,and much less cynical.To some it was as shocking as the time they learned Santa didn't.........nevermind

19. Décembre 2008, 19:43:06

Snoopy

http://www.nydailynews.com/news/politics/2008/12/18/2008-12-18_deep_throat_mark_felt_watergate_whistleb.html

19. Décembre 2008, 16:51:29

Mort

Sujet: Re: libs are so afraid of conservatives that they feel like they need to slant their news stories and warp our minds just to make liberalism more tolerable.

Czuch: I look at the wording, so often it's over dramatised and made bigger just for impact sake rather then accurate reporting.

Over here, they have party political broadcasts and things like question time for politicians to waffle on, so much of the news is kept clean of politics except for news on what they are doing, budget, PM question time (always a good laugh no matter who's in power)

But that's the normal stations.. cable ones can be a little more .... well they are privately owned, but still report to the regulators same as the normal ones.

19. Décembre 2008, 16:35:39

Sujet: Re: libs are so afraid of conservatives that they feel like they need to slant their news stories and warp our minds just to make liberalism more tolerable.

(V): okayt nothing to debate then....

you have to remember too though, that you and I are not your average news watcher, but the majority of people actually get most of their news from places like the CBS evening news or the like.... these are the people who make or break an election, and these are the people who see Katie Couric telling us how we should view things in Iraq.... it may not shape your or my opinions, but there are millions of sheeple out there who just go by whatever tom brokaw tells them to go by, and 9 times out of 10 that is slanted by liberal minded news people.

19. Décembre 2008, 08:51:45

Mort

Sujet: Re: libs are so afraid of conservatives that they feel like they need to slant their news stories and warp our minds just to make liberalism more tolerable.

Bernice: Nope I still have my marbles.

19. Décembre 2008, 08:50:57

Mort

Sujet: Re: libs are so afraid of conservatives that they feel like they need to slant their news stories and warp our minds just to make liberalism more tolerable.

Czuch:

well I am not. I'm talking all communication types.

19. Décembre 2008, 00:35:28

Sujet: Re: libs are so afraid of conservatives that they feel like they need to slant their news stories and warp our minds just to make liberalism more tolerable.

Tuesday: nobody said I cant afford a membership....and I am not a republican but more a conservative with libertarian views who almost always votes republican.... lol the last election I voted for one democrat and that poor sucker lost!

19. Décembre 2008, 00:31:54

Sujet: Re: libs are so afraid of conservatives that they feel like they need to slant their news stories and warp our minds just to make liberalism more tolerable.

Jim Dandy: and to you again.... everybody knows that oreily is a conservative and what he does is not considered hard news!

stick with me guys please, I am talking world news tonight, for example... or the cbs evening news, those types of news programing which is supposed to be objective reporting of facts, not opinions or slants on them!

19. Décembre 2008, 00:31:53

Bernice

Sujet: Re: libs are so afraid of conservatives that they feel like they need to slant their news stories and warp our minds just to make liberalism more tolerable.

modifié par Bernice (19. Décembre 2008, 00:32:18)

Czuch: (V) thinks the cartoon shows ARE the hard news.....poor fellow

19. Décembre 2008, 00:29:00

Sujet: Re: libs are so afraid of conservatives that they feel like they need to slant their news stories and warp our minds just to make liberalism more tolerable.

(V): Plus with all the radio stations on the conservative slant, etc... you right wingers do have quite a voice.

how dull do you have to be to keep this up??? I am not saying there are no conservative voices out there, all I am say is that there are some tv outlets that produce what is supposed to be hard news shows, and those are the types of shows I am talking about... strictly tv hard news in america, thats all!

18. Décembre 2008, 16:06:33

Mort