Pasadenan's Discussions

I don't think the 0% interest would apply to purchases of leveraged rice futures or similar; and I don't like the risk factors where the commodities are already over inflated from speculation. 

Used to do 4k miles per year on Bicycle when the office was 4 miles away; and would drive about 200 miles per year. Then when my office was less than 1/8 mile away, I did about 12k miles per year in the car and about 30 miles per year on the bicycle. Now it is about 8k miles per year in the car and about 2 miles on the bicycle. It is so easy to get lazy once a habit is broken. 

Nothing notable about 30% of "for sale" housing inventory being "foreclosures"? Nothing "dramatic" about 80% of banks and lending institutions bordering on "bankruptsy"? No "stretch" to understand why a U.S. financial problem is so severe that the Congress has been trying to pass legislation to rescue banks insured by FDIC so that we will still have a means of writing checks and using credit cards? And I suppose the double digit inflation in food and energy has not impacted anyone you know? And perhaps absolutely no one you know of has been laid off or took a pay reduction? So you think that California's 14 Billion Dollar Stage Government budget deficit this year is just imaginary since they were projecting a 4 Billion Dollar surplus back in August? Congratulations that your income has risen so much by exploiting the sale of the foreclosures at 30% off from last years values. But you could at least have some sensitivity for those that aren't receiving your $500,000 annual income "windfall". 

Stage -->  *State*

If gasoline goes to $10 per gallon, it will just put more "profit" in the hands of the oil industry and tighten their strong hold on the american ecconomy. The solution is counter intuitive, as with most economic/political solutions.  Tax gasoline $9 per gallon for transit, and the price the oil companies will drop as demand drops. As long as we throw subside money at non-workable solutions with "researchers" that have no intent to put a product on market at a reasonable price; and as long as an oil-monopoly keeps competitors out of the automobile fuel industry, the problems will not change.  We already know the solution; we just need to get the american people to accept it and demand it since no polititian can even suggest it without being thrown out of office. And Tom, just where do you think you are going to get all that energy?  And how do you propose manufacturing and disposing of all those batteries?  Fuel cells will eventually be the answer, but ecconomy of scale must be created first, and some fuel sources need to be standardized.  (I still prefer methane gas from algy grown in roof mounted tanks). It is not "industry" that needs to change, it is the thinking of all us individuals that presently drive $15k plus miles per year!  Our grandparent's generation didn't need to drive that far by themselves!  Why has it become so important to us? 

Rob Cochems - You know as well as everyone else posting here that the "index" for the loans is not the issue at all!!!! It is the "inital discount rates", the "negitive amortization payments", and the loan-to-value ratios that have put loans upside down with artificially inflated housing values!  You can pretend you don't know this all you want, but all it does is make it clear that your only intent is to exploit the unexpecting.  But your posts then are completely foolish as there are no "unsuspecting" reading ANYTHING you post on Zillow. And you also know that the 2% does not reflect 2% of the housing units presently "on the market", but rather 2% of U.S. ownership housing units.  Since only about 14% of the U.S. housing inventory is on the market in any given year, and only about  about 7% at any given time; that 2% (if most are foreclosed) represents 28% of the housing units on the market.  And as prices are driven down by increased foreclosures, more loans will be upsidedown with people just walking away snowballing the foreclosure rates. So are you just trying to give yourself little "pep talks" so that you can sleep better at night? 

“I can't change the direction of the wind, but I can adjust my sails to always reach my destination.” Or, we can change our destination to take advantage of a tail wind! Why bother paddling upstream if we can catch the rapids to go downstream? Want to go uphill?  Why bother trying to do it sitting in the water? Fighting the enevitable will not make it any easier. Stop fighting and enjoy the show. 

"I received a loan request on here, for a guy in a 3/1 Alt A arm, set to request next month.  His current rate 6.125%, what is his rate going to be after the reset 5.875%." You know as well as everyone else that there is no "accountability" for anyone requesting "loan quotes" from Zillow.  The terms given to you were just to waste your time for you to prove that you have nothing to offer.  Likely the person that requested the quote not only is not in the market for a new loan, but probably doesn't even have a loan. Prove me wrong!

Doesn't matter if they were "fixed rate" if the loan to value ratio was 100% and is now 130% due to decline in property value.  It also is clear that many of the fixed rate Alt-A loans did not have income verification, self-employed income that widely fluxuates, and discounted "option pay" payments that allowed negative amoritization in spite of fixed interest rates. And who is "he"?????  No one requesting loans on Zillow gives their name, phone number, address, or other personal information.  Anyone can know the "terms of their loan fairly well" if they are just making them up.  It is so clear from your "example" that the person was not looking for a new loan that I can't even believe you would take the request for a quote seriously! But since you guys still keep "promising" to lower the rates in all your advertisements and robo-calls, what are we supposed to do?  I got one of those robo-calls today promising to lower my interest rate.  My interest rate is zero percent for two years and 5% fixed after that.  Of course they couldn't match it or lower it, but the calls are so annoying I had to ask the loan officer if their ad was serious anyway! 

No I don't; I was implying that the person requesting the "quote" was a renter without a mortgage. And you know full well that my present loan rates were not offered for a "mortgage".  I have no mortgage; that is a credit card loan, and no fees or closing costs are paid for using or obtaining a credit card, thus loan officers are cut out of the picture. Besides, it doesn't matter how good the loan terms are if the loan to value ratio approaches 140% The more foreclosures that hit the market, the more the values will decline, and the more loans will be upsidedown. But that is good for your business since you only are writing loans now for people that buy foreclosures.