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Hybrid Loan Time Bomb (Do you have an ARM mortgage?)
321gold ^ | January 4, 2006 | Mike Shedlock

Posted on 01/04/2006 8:46:59 AM PST by Travis McGee

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To: Jhohanna

We're leaving SoCal for north FL for that reason.


81 posted on 01/04/2006 2:09:15 PM PST by Travis McGee (--- www.EnemiesForeignAndDomestic.com ---)
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To: Travis McGee

Wow... keep in touch, I'd like to see how that works out. not that I really can move to FL, but Scarborough Country is an area of the country that we're looking at (I *gotta* get out of this hell that is San Diego)! But I have a LOT of considerations to make before we can jump on the train, ya know? Definitely wish you good luck... contact me offline, I can hook you up with a great mortage lender that will help you if you need it!


82 posted on 01/04/2006 2:41:00 PM PST by Jhohanna (Born Free)
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To: Travis McGee
Thanks for the ping.

This will definitely put a crunch on things. More money going towards debt service will mean less for consumption, which (coupled with foreign goods and paper) is the only thing keeping the economy afloat. Don't worry though, Helicopter Commander Bernanke will come to the rescue.

BTW, have you seen what gold is doing lately? Even the gold bulls were expecting a short term consolidation down to $470 or lower, but it barely broke $500, and now it's back up to $530!

83 posted on 01/04/2006 5:47:46 PM PST by Mulder (“The spirit of resistance is so valuable, that I wish it to be always kept alive" Thomas Jefferson)
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To: gotribe
The old ARMs aren't the problem, it's the interest-only part that's the problem

The latest fad takes it even further. Some loans are set up where you can skip some payments and thus accrue even more interest.

84 posted on 01/04/2006 5:50:05 PM PST by Mulder (“The spirit of resistance is so valuable, that I wish it to be always kept alive" Thomas Jefferson)
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To: Travis McGee

I have a fixed 5-1/2%. Arms never interested me, thank goodness.


85 posted on 01/04/2006 6:37:34 PM PST by B4Ranch (No expiration date is on the Oath to protect America from all enemies, foreign and domestic.)
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To: Travis McGee

Casa paid for in full.....no worries here ! There is that property , school, etc tax crap that keeps popping up every year though.......:o(


86 posted on 01/04/2006 7:17:58 PM PST by Squantos (Be polite. Be professional. But, have a plan to kill everyone you meet. ©)
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To: Mulder

Yep, gold is looking strong, that's for sure!


87 posted on 01/04/2006 9:31:37 PM PST by Travis McGee (--- www.EnemiesForeignAndDomestic.com ---)
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To: Squantos

Just tell the county, "I don't have any kids in your schools, so I'm going to skip paying that part of the millage."

I'm sure they will understand, and adjust your payment down accordingly.


88 posted on 01/04/2006 9:33:52 PM PST by Travis McGee (--- www.EnemiesForeignAndDomestic.com ---)
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To: KarlInOhio

I'm putting my money in investment grade tulips.>>>>>>>>>>>


I hear the real killing is in "Limited Edition" Barbie dolls! Can you believe I know a man who accumulated a room full of those a few years back? I haven't talked to him since the late nineties but in one of our last conversations he was very upset that Mattel had reissued some of the "Limited Editions". I am not a collector but my advice to him was to get into something that was not manufactured for the purpose of sale to collectors. He actually seemed to believe that he was going to retire by selling his Barbie collection.


89 posted on 01/05/2006 5:49:52 AM PST by RipSawyer (Acceptance of irrational thinking is expanding exponentiallly.)
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To: Phantom Lord
What, besides loss of job or major credit problems would prevent him from refinancing?

The Chinese holding the loan?

90 posted on 01/20/2006 8:33:05 AM PST by hripka (There are a lot of smart people out there in FReeperLand)
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To: zeaal
What about the interest only loans that are advocated by folks like Dave Ramsey in an effort to pay off debt?

Is that true? It sounds like a contradiction (interest only loans vs. pay off debt)

91 posted on 01/20/2006 8:35:08 AM PST by hripka (There are a lot of smart people out there in FReeperLand)
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To: hripka
I may have been mistaken .... one of the sponsors of Ramsey's show locally (DFW area) pushes the interest only loans. Not Ramsey, but his show's sponsor.
92 posted on 01/20/2006 9:00:52 AM PST by zeaal (SPREAD TRUTH!)
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