Feds cut key rate to 0.00%-0.25%

[Stout1]

Re: Feds cut key rate to 0.00%-0.25%

they are not paying

Did you not say this?

it will be worked out banks will eat the hit

which is basically lower rates for all too refi to present income levels, screw the value, u banks will eat it, tough dookie, you would eat it anyways and we are saving your arses

So which is it? Few posts ago they are going to "eat the hit".

Your words, not mine.

Then you say you never said it.

[Stout1]

Re: Feds cut key rate to 0.00%-0.25%

Building 7. You can keep believing what you're feed daily on the news I choose to think independently.

http://www.youtube.com/watch?v=972ETepp4GI&feature=related

[trip]

Re: Feds cut key rate to 0.00%-0.25%

i don't care about building 7

i built buildings, hundreds of them, around a thousand really, so i have no interest, zero nada in someone else's analysis that i care nothing about

The banks are not paying home owners real dollars, money etc. for lost value of homes.

What they are doing is eating the difference between todays market value and what they loaned on it previously.

An example, banks loans 250k, home owner pays 1500 a month.

Now, the home is worth 150k, which on the open market you'd pay 900 a month for.

If someon is going to go bye bye on the home and the bank can keep you in, they will rework it.

ie, eat the 100k, why, they are going to do it anyway, and it would cost them another 10-20k to keep it on books for six months and re-sell it if they can.

[Stout1]

Re: Feds cut key rate to 0.00%-0.25%

i don't care about building 7

i built buildings, hundreds of them, around a thousand really, so i have no interest, zero nada in someone else's analysis that i care nothing about

Spoken like a true gentlemen and a patriot of his country.

The banks are not paying home owners real dollars, money etc. for lost value of homes.

What they are doing is eating the difference between todays market value and what they loaned on it previously.

An example, banks loans 250k, home owner pays 1500 a month.

Now, the home is worth 150k, which on the open market you'd pay 900 a month for.

If someon is going to go bye bye on the home and the bank can keep you in, they will rework it.

ie, eat the 100k, why, they are going to do it anyway, and it would cost them another 10-20k to keep it on books for six months and re-sell it if they can.

The more you post the more I can figure out why you voted for Obama. Redistribute the wealth for the dumb idiot who got himself in this fiasco in the first place. But it wasn't the borrower's fault, it was the banks....they put a gun to their head and made them sign the loan.

[trip]

Re: Feds cut key rate to 0.00%-0.25%

stout,

good luck man, and wish you well

[firstenrgy]

Re: Feds cut key rate to 0.00%-0.25%

The more you post the more I can figure out why you voted for Obama. Redistribute the wealth for the dumb idiot who got himself in this fiasco in the first place. But it wasn't the borrower's fault, it was the banks....they put a gun to their head and made them sign the loan.

I agree! Just like any bubble or mania, people got caught up in riding the wave. People should have learned from history.

http://www.prestigeadvisors.com/The_Tulip_Bulb_Mania.htm

It's not the gorvernments job to keep housing prices artificially inflated. They are trying to but there is no way to stop it from unwinding. The fed can print money all day and night and real estate prices are going back from whence they came! If they keep printing, there will be a run on the dollar, wild inflation and then debtors will be able to pay back in inflated dollars. It's the worst route to go but so many people drank the kool aid and bought homes well after prices were wildly over priced. Just like trip, I was warning of this in early 2004 even though prices were overbought even then, people kept buying. I don't feel bad one bit.

[JsJs24]

Re: Feds cut key rate to 0.00%-0.25%

I'm reading Greenspans book now and he talks about the Nixon, Carter etc administration....it's the same people.

What's up SE. I am not sure if I would read a Greenspan book. He is one of the people that deserves the most blame, in addition to the democrats from the Clinton admin who pushed Fannie and Freddie to give loans to those who could not afford them. However, he is a smart man and very experienced but even he admitted he made some grave mistakes. Anyway, the book is probably a fair read, however I am not a fan of his or his successor.