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Tue Dec 22, 2020, 07:00 PM

HGTV just got real 😆

8 replies, 1616 views

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Arrow 8 replies Author Time Post
Reply HGTV just got real 😆 (Original post)
underpants Dec 2020 OP
Wounded Bear Dec 2020 #1
leftieNanner Dec 2020 #3
Nevilledog Dec 2020 #2
sfstaxprep Dec 2020 #4
paleotn Dec 2020 #5
hatrack Dec 2020 #6
paleotn Dec 2020 #7
irisblue Dec 2020 #8

Response to underpants (Original post)

Tue Dec 22, 2020, 07:00 PM

1. Must be on that new 50 year mortgage plan...

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Response to Wounded Bear (Reply #1)

Tue Dec 22, 2020, 07:04 PM

3. Not to mention the property taxes.......

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Response to underpants (Original post)

Tue Dec 22, 2020, 07:02 PM

2. That's perfect!

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Response to underpants (Original post)

Tue Dec 22, 2020, 07:11 PM

4. Completely Unrealistic

Anybody with a $3.2 Million budget, is not going to be eligible for the stimulus. Nor should they be.

I understand the point, but the indicated "budget" makes it into a joke, rather than a statement on the insufficient stimulus amount.

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Response to underpants (Original post)

Tue Dec 22, 2020, 07:21 PM

5. It's 2006 all over again....

Liar loans and super duper low introductory payments covering 1/2 of just the monthly interest. When the full payments kick in after a year or two, you owe more then you did when the mortgage was originated. I remember my father thinking 30 year mortgages were insane. Now I think 7 year car loans are insane. The third constant in life, along with death and taxes, is people never learn.

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Response to paleotn (Reply #5)

Tue Dec 22, 2020, 07:23 PM

6. Reminds me of the Negative Amortization Loan - that is, the longer you pay, the more you owe

And what did the markets call this particular excrescence of the financial sector 15 years ago?

Why, the "Smart Loan", of course!

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Response to hatrack (Reply #6)

Tue Dec 22, 2020, 07:36 PM

7. Yep, compounding interest on the interest you didn't pay the prior month,....

rinse and repeat, is a quick trip to the poor house. When the day or reckoning comes and they hit that recast cap, it's foreclosure city. Why someone would write such garbage is beyond me. People with no soul. Why people would invest in tranches containing such garbage is even further beyond me. Lots of them still sitting on the Fed's balance sheet. Ugh.

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Response to hatrack (Reply #6)

Tue Dec 22, 2020, 07:50 PM

8. "excrescence definition...

ex·cres·cence
/ˌikˈskresəns/
Learn to pronounce
noun
a distinct outgrowth on a human or animal body or on a plant, especially one that is the result of disease or abnormality.

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