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Old 09-10-2007, 08:00 PM   #11
seruzawa
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Default Lending a businessman...

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Originally Posted by Kenneth_Moore View Post
Seruzawa, You make some really good points here.

First, there are a LOT of people up a creek with this mortgage situation. Not only the subprime lenders and borrowers who are the obvious crises, but there's a LOT of people who thought they had magically "earned" a bunch of money when their property values went through the roof. Baloney. If you "refinanced," you just went further into debt; albeit possibly at a lower rate. If you sold, unless you were moving from CA to IA, you didn't really net any income because all the other houses to buy went up too. This is going to have BIG a long term impact on disposable income and "discretionary" purchases like bikes.

The White House, Congress, and the Fed were all in cahoots (conspiracy theory coming up, younger kids should leave the room) with the bankers on this. They "fattened up" the buyers and homeowners with the scam subprime loans and subsquent price explosion for housing, and now they're going to "harvest" this "crop" when they take their homes in foreclosure for a fraction of their "value." Nice work if you can get it.

As for HD prices, well, even though I've put a lot of bucks in my '77 over the years, I have a standing offer to sell it for exactly what I bought it for from a buddy. I've never seen a time when HD prices fell. The new bike prices will be maintained by limiting production. HD will never substantially discount their prices; to do so flies in the face of their corporate marketing philosophy.

Kill Whitey. It's the only answer.
...less than he really needs and then buying up the business after it goes bankrupt is a standard banking practice. So is spreading lies like "sheep destroy the grass" thus encouraging cattlemen/sheeherder wars and foreclosing on both sides after they can't make their loans payments because they wasted their cash fighting. (And selling them the guns and ammo to fight with).

(Ha! You thought that because I detest socialists that I'm a big lover of capitalism, didn't you? The end result of unbridled capitalism and unbridled socialism is the same - a handful of people own everything.)
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Old 09-10-2007, 08:34 PM   #12
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... the fact is that even with the Iraq spending the amount of defense spending as part of GNP is still historically low. It's the entitlements that are the pending disaster.

I've said these things knowing that a certain fool is smashing his keyboard right now. Heh heh.
I just didn't have the heart for a psuedo-tirade line of bullshyttin'.

I've let you all down, I know. I apologize profusely; from the bottom of my crankcase.
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Old 09-11-2007, 05:14 AM   #13
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Yep, that too.

We still need to kill Whitey though.
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Old 09-11-2007, 05:16 AM   #14
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...less than he really needs and then buying up the business after it goes bankrupt is a standard banking practice. So is spreading lies like "sheep destroy the grass" thus encouraging cattlemen/sheeherder wars and foreclosing on both sides after they can't make their loans payments because they wasted their cash fighting. (And selling them the guns and ammo to fight with).

(Ha! You thought that because I detest socialists that I'm a big lover of capitalism, didn't you? The end result of unbridled capitalism and unbridled socialism is the same - a handful of people own everything.)
So, what you're saying here is that we need to kill Whitey, right?
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Old 09-11-2007, 05:31 AM   #15
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Default Up the revolution!

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So, what you're saying here is that we need to kill Whitey, right?
Power to the people! Down with the pigs. Legalize marijuana! (Oops. How'd that get in there?)
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Old 09-11-2007, 09:36 AM   #16
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The trick to those super low rates was to re-fi out when the rates started back up. I went from a 7.9% fixed VA to a 3.2%-3 yr. p&i ARM then re-fi'd into a fixed 5.2% p&i conv. after 2 1/2 years and made out like a fat rat. The key is to read the fine print. The ARM I had adjusted up 2% per year until it capped at 12% after the 3 year teaser, there was no way in hell I'd have kept that.

When the fixed 30 year conventional loand s hit 4.9% I started the process but locked in at 5.2%, still an excellent deal. I just completed a deal on my 2nd which is a no-fee drop from 8.2% 15 yr. p&i to 6.9% 15 yr. p&i through my credit union which saves me $9k over the loan life and puts about $65 in my pocket per month.

People that stayed with ARM's or specially the interest only loans they were pushing at the time are getting a shellacking with this. It's the same with any deal, stay within your income range and read the fine print, the banks weren't doing those deals because they're all a nice buncha' guys..
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Old 09-11-2007, 09:53 AM   #17
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Default Well well

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The trick to those super low rates was to re-fi out when the rates started back up. I went from a 7.9% fixed VA to a 3.2%-3 yr. p&i ARM then re-fi'd into a fixed 5.2% p&i conv. after 2 1/2 years and made out like a fat rat. The key is to read the fine print. The ARM I had adjusted up 2% per year until it capped at 12% after the 3 year teaser, there was no way in hell I'd have kept that.

When the fixed 30 year conventional loand s hit 4.9% I started the process but locked in at 5.2%, still an excellent deal. I just completed a deal on my 2nd which is a no-fee drop from 8.2% 15 yr. p&i to 6.9% 15 yr. p&i through my credit union which saves me $9k over the loan life and puts about $65 in my pocket per month.

People that stayed with ARM's or specially the interest only loans they were pushing at the time are getting a shellacking with this. It's the same with any deal, stay within your income range and read the fine print, the banks weren't doing those deals because they're all a nice buncha' guys..
Looks like Ken and me know which whitey is next.
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Old 09-11-2007, 11:06 AM   #18
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Hold up now, let me call the police. You know us flaming lefty liberals don't have any guns
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Old 09-11-2007, 11:06 AM   #19
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Power to the people! Down with the pigs. Legalize marijuana! (Oops. How'd that get in there?)
Dammit Serz, you always leave out the good stuff:

Promote Teen Sex! Ban Christmas! Tax the Rich! Feed the Poor! Till there ain't no rich no more! Killlllllll WHITEY!
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Old 09-11-2007, 01:01 PM   #20
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I have some guns you can borrow.
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