Posted on 08/21/2007 8:18:53 AM PDT by Hydroshock
Ha - you might be surprised to find what the neighborhood kid charges.
The kid made $80 a week for 2.5 hours of “work”. I know adults who don’t make that much an hour. :)
Yes, but I suspect that a pro walker in Mont. Co. is charging more than that. And likely taking 15 dogs at a time out.
Well, yeah — courses in fiscal responsibility would take time away from those gay/lesbian islamic eskimo studies classes.
bump for later ranting
Seems kinda comparable, and we don’t live in suburban DC or anywhere near a very high rent district:
http://capitalpetsitters.com/md_rates.html
“But that wasn’t really on our minds two years ago. For us, and I suppose others who signed such deals, the lower payments afforded by an interest-only loan helped us buy a house in an expensive county — Montgomery — where we wanted to live and eventually send our children to school.”
By then I’m sure that their plans were to hire a child walker to escort them.
it could very well be that they were not ready to purchase a $460,000 starter home... if they weren't, then i don't see how he can say they "deserved" one...
A few weeks ago, everything stopped...it's dead quiet over there. All the graders and dozers are gone. They made a nice, big, level dirt patch, though.
Someone lost their financing I suspect.
Whatever happened to SHAME?? This man should be ASHAMED of his stupid decisions......eegads.
He thinks the SCHOOL should teach this stuff??/ It is taught in the HOME....wonder if his PArents are as stupid as he is?
LOL!!!! HOW TRUE!!!!! Best comment of the day!
No inspection also....what an IDIOT couple! And she’s a PHYSICIAN? An inspection would be called a second opinion.
I’ve been raising a large family.
You know what?
I “deserve” a trip to Italy for relaxation.
Do they have interest only adjustable rate loans for that sort of thing?
Let me explain it to you. It comes from the capital structure theory called the “pecking order” theory of Myers and Majluf (1984) and Myers (1984). The idea is that financial flexibility gives you options to take care of investment opportunities. If I take out an interest-only loan, I still can make the same payments and replicate the results of a fixed-rate mortgage, but am not obligated to do so. If an investment opportunity arises, or if I simply have a cash flow shortage, I can make the interest-only payment and not default on my loan. If, instead, I had a fully amortizing loan, I lose the option to pay interest only and will lose my house if I can’t pay the difference in the interest-only loan and the fully amortizing loan.
"Interest-only loans typically mean that buyers lock into a low interest rate -- about 5.125 in our case -- for the first three or five years, without paying principal, before the loan balloons into a 30-year, fixed-rate mortgage tied to current interest rate indexes."
Well, FIXED-RATE mortgages are NOT tied to curren interest rate indices; Adjustable rate mortages are. If this guys is this ignorant of the mortage market, he should get one of the guys that write for the business section to clue him in.
But the money quote is
"we deserved a nice home."
What an arrogant self-absorbed ass.
They are not having a problem making payments. They didn't buy more than they can afford. They are worried about what the interest rate will be in three years when their current note resets.
Too many Americans it seems, sad to say, are thinking primarily about the recreational 4-wheel drive or Winnebago, a big screen, and vacations in Cancun, to really be smart, wise, and yes, even Biblical when it comes to attitudes and strategy toward money. They are not the only people on the globe to have this attitude.
The other shoe has not fully dropped yet, IMHO.
Many people will only have themselves to blame.
Said the crooks that loaned them the money, that didn't have the professional ethics to ask them for credit information, income or anything else.
Of course, those same small time crooks that made them the loan, for the loan commission $$, have now all been laid off by the fat cats that pushed this entire scheme in the first place.
and, I just love the poor me doctor/lawyer whine stories.....
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