DISQUS

yes. the art of networking is figuring out how to help others.

thanks for visiting my site.

I love your name - billion woman - its awesome!

thanks for visiting my site.

I love your name - billion woman - its awesome!

I had a similar post.
http://wealthbuildinglessons.com/2008/07/14/how...

I recommended sticking to gold and silver and shorting financials.

thanks for the link!

well you can become a low-blogger instead!

what are you going to be doing for the Inv. Bank?

Thanks for the link!

I went to a catholic school and we're not even christian!

I think I turned out better for the high quality education I received. I think religion is a good addition to have to your overall education. If you're dumber than a box of rocks, it doesn't matter which religion you follow.

You're right. It is the Fed's fault. Through easy liquidity, they caused a spike in asset prices.

Check out this video. Its a hilarious British skit about the subprime mess.

In response to the previous comment by Ian, when you buy anything as an investment, you expect to make a profit.

If you don’t think that’s right, maybe you should look at communist or socialist countries. Nothing there works!

Look at the difference between India and Japan. In 1945, Japan worked its way from scratch to be amongst the top 5 largest world’s economies by adopting capitalism. India, through various socialistic experiments that lasted until the late 80s, suffered tremendous economic stagnation.

Taking properties from people who bought homes they couldn’t afford with neg-am loans is neither wrong nor right. If they could sell the homes at a profit, they would. but they can’t. And the only way anyone can make a profit is buy paying 60 cents on the dollar. Its basic supply and demand.

In response to the previous comment, when you buy anything as an investment, you expect to make a profit.

If you don't think that's right, maybe you should like at communist or socialist countries. Nothing there works!

Look at the difference between India and Japan. In 1945, Japan worked its way from scratch to be amongst the top 5 largest world's economies by adopting socialism. India, through various socialistic experiments that lasted until the late 80s, suffered tremendous economic stagnation.

Taking properties from people who bought homes they couldn't afford with neg-am loans is neither wrong nor right. If they could sell the homes at a profit, they would. but they can't. And the only way anyone can make a profit is buy paying 60 cents on the dollar. Its basic supply and demand.

I just sold naked puts on Wamu on Monday. Overnight they dropped 75% in value, which means I can buy them back for a 75% profit!!

that's like make dividends from stocks that you don't even own! ;-)

people walk away everyday. the question is what are they running from, and what do they want to do next?

just because you relinquish your responsibilities, your life doesn't become a void. it's replaced by something else.

people who leave their jobs got do something else, like charity work, or even begging ;-P

people leave their nagging wives for a younger, hotter chick but then they get stuck with child support and alimony and their life
sucks even more!

people walk away from their mortgages unaware that it'll haunt them forever (there's a box on the mortgage application asking if you've EVER filed bankruptcy or defaulted on your mortgage). even if it no longer shows up on your credit history, there's a chance the bank will find out and deny you a loan, or maybe approve with a substantially higher rate.

there are always consequences to these sort of actions- many people just don't think things through.

never lend to family members in excess of what you can afford to lose.

the last thing you want to do is evict a friend/family member.

thats just hilarious!

especially liked the recto-rotor! maybe its the precusor to the dildo!!!

per litre.

Its $1.25 in India!

I think you're better off looking at the 10 year T bill as a reference of how mortgage rates are doing.

also, if I had been in your position, since you were going to refi in a year, i would have gone for a higher rate, taken a discount point (the bank would've paid me money for getting 7.5%) and gone for 6/1 ARM, which would've probably resulted in a lower interest rate from what you got and had lower closing costs.

of course, i've gone through this process over 20 times so I've learnt a trick or two.

when I was in college, I'd have dated any girl with a strong handshake. something sexy about a chick with a confidence handshake!!!

vote for RON PAUL.
RON PAUL, RON PAUL, RON PAUL!!!

he's one of the few politicians who understands anything about economics. as a pf enthusiast, I'd definitely for him.
did you see the site: whoshouldivotefor.com (or somthing similar to that). even they said I should vote for him.
did I say vote for ron paul ;-)

I've bought over a dozen homes in the past few years (and have facilitated the sale of nearly a 100 to investors). I've been renting my own home back in San Diego since 2005, which was the peak of the market.

Now is definitely not a good time to get into real estate investing.

I can't think of a good reason to use one over the other. I'm currently using Prosper and my default rate is lower than the average. I think it depends on the types of people to loan to.

I think its a double-edged sword.

the mortgage industry gets its liquidity from foreign investors who buy portfolios of residential mortgages. Lowering interest rates causes the dollar to weaken and deters from foreign investors from providing this needed liquidity.

So the government steps in and provides the liquidity by printing more dollars, which causes the dollar to weaken further (and leads to a vicious downward spiral).

The correct thing to do is raise the interest rates and "correct" the excesses of the boom. Not doing so may cause a Japanese-style deflation that lasts 2 decades.

I wouldn't rejoice just yet.

congrats on the 500 readers!

did you now that a whopping 45% of consumers always carry a balance on their cards? No? Well I got it from your numbers!!!

The quarter that don't have credit cards are the illegal ones that don't have SS ids and haven't figured out that you can lie blatantly on credit card apps. Even people's pets have credit cards!!!

those bastards!
i've always gotten emails,which I promptly delete.

I did cough up 20 bucks for a co-workers wife who was walking for 3 days for breast-cancer. I was really pissed when I didn't get a receipt for my taxes!