panocha man

California and Florida Housing Outlook: More Hope for Recovery in 2010

if the lenders froze the payments on all Option Arm loans that are current with no further resets that would stop many foreclosures, definitely no resets at the 5 year reset that reamortizes the remaining balances,

Rick Santelli's Rant: A Response

My suggestions reward the RESPONSIBLE homeowner how about CLAW BACK FROM BANK OF AMERICA , Bear Sterns , Citi, COUNTRYWIDE, WAMU ,executives , to pay for the stimulus.
you do the crime you do the time

Rick Santelli's Rant: A Response

1. the, solution is very obvious , my friend got an Option Arm loan in 2004 for his daughter, now Chace offered him a loan modification after the initial 5years when payments would double from$ 2700 to $5400 , he did not request it. 1.5% fixed rate and 37 year amortization for 5 years then 2.5% yr 6, 3.5% yr 7 , 4.5% yr 8 , 4.9% for the remainder and extended loan to 37years. this for a loan that was $953,000 ,perfect payments.FULLY AMORTIZED NO NEGATIVE! no escrow ,no credit report no appraisal, no income info, no cost PERIOD just sign 2 page form.NO REDUCTION IN PRINCIPAL.Who wouldn't want to live in Brentwood, Ca for $2700 for 5 years and write off the interest, even if it is upside down, rents would probably be over $6000

2. have borrower sign over property and rent it to them , charge the market rent and have management company in place, cheaper than foreclosing. HSBC has already done this.
3. Refinance houses at current 5% rate for anyone who has not missed a payment since last refinance or since purchase, obviously if they can afford the higher payment they will pay the lower payment, as above no appraisal, no cost just sign new agreement. or offer like 1 above
this will keep more people in their homes
if Chace can offer this on a WAMU Option Arm it is obvious all banks can offer this.
option 1 and 3 rewards the responsible borrower, this is the cram down needed. please comment

Verizon's New Weapon in the War Against Churn

it is a retro idea , like brining back the phones with the circular 10 hole dial and with a contract! boost mobile $50, unlimited regular internet and an all in one printer instead of fax

30-Year Fixed Mortgage Rates Down to 5.28%

when mortgage payments equal house rents for the neighborhood then we will hit bottom , why would someone pay rent for the price of owning, also rent foreclosed houses to current owners/now renters for the market rent in the area, keeps houses occupied and keeps them from being vandalized

Why Would We Want to Bail Out This Homeowner?

ACCORDING TO SOME BUSHIES HE IS A GREAT PRESIDENT THESE BUSHIES SHOULD BE THE ONLY ONES PENALIZED FOR HIS PERSONALLY ORCHESTRATED DEPRESSION .. PAULSON IS BAILING OUT HIS AND BUSH'S FRIENDS .HE WANTS TO BE BIGGER THAN HOOVER. HOW DO WE DEPORT THESE TWO IRAQIS .

Why AIG Gets Billions While GM Gets Scorn

Bush and Paulson took care of their friends who make more than $250,000 plus bonuses , so they say screw the masses. if you make less than $ 250,000 you are on your own.he took care of the top 5% who are his base.

Detroit's Big Three and the Democrats' Economic Illiteracy

Let Volkswagen buyout GM . they seem to have the right business plan, or hire some of their management as consultants.............. much do you think they pay autoworkers who build Porches or Rolls Royce cars and jet engines . would you rather have a Porche or a Rolls or a Cadillac , a no brainer , go outside the box. how did the Volkswagen stock do after Porche bought a larger share. Eliminate all those redundent models who only have different chrome . GM has the technology to convert current model cars to natural gas , models they sell outside of the country but not here.

Bush's Peculiar Wall Street Speech

WHEN WILL HE SAY THIS MESS IS MY FAULT BECAUSE OF MY NO REGULATION POLICIES . I HEREBY EXILE MYSELF TO IRAQ. HIS SONG IS " I DID IT MY WAY..................Y... ALL LOSE"

Trump to Lenders: You're Sued!

why doesn't he top off the building at its current height and go on with life selling what is currently there. if he can't sell what is there now how is he going to sell the rest. A NO BRAINER.

The Real Unemployment Numbers

If only we could punish the people who voted for Bush by taking their jobs and giving them to those that voted Democrat. i predicted in early 2000 that we would get bookend recessions , one before Clinton and IF BUSH WAS ELECTED ANOTHER RECESSION 2001 recession wasn't enough he wanted to go down in history as CREATING the NEXT DEPRESSION, HE SUCCEEDED. HE RAN A SPORTS TEAM INTO THE GROUND, WHAT DID PEOPLE EXPECT HE WOULD DO TO THE AMERICAN ECONOMY..FIRE ALL BUSHIES YOU DESERVE IT. BUSH should be EXILED to IRAQ ,during his presidency he cared more about money to rebuild IRAQ than to rebuild the U S.

Wall Street Bailout: Congressional Cover-Up, or Sarbanes-Oxley?

who has been in power president ,and both houses of congress from 2001 to 2006? when this meltdown start ? mid 2006 i am in the industry day to day. how about meltdown in late 80s who was president through that bank melt down? bush , like father like son , who came out ahead last time?LET US VOTE FOR THE PARTY OF OUR GREATEST PRESIDENT :HERBERT HOOVER. if you don't blame BUSH/MCCAIN then you must still believe O J WAS INNOCENT AND THAT NICOLE COMMITTED SUICIDE . WHAT HAPPENED TO THE BUCK STOPS HERE.? NOT IN THE BUSH/REPUBLICAN VOCABULARY.




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I'm Speechless: Palin on the Bailout

palin believes in bringing forth the end of days, iran's president believes the islamic view of the same thing, will they work to rush things. what is this witchcraft thing all about? mccain withholds his medical records because it would show the onset of alsheimers, a true reaganite, listen to him day to day and call him on his daily flip flopping. spain's president is now a south american advisary????????? how about veterans......he voted against the G I bill
because they would leave the service, how about the conditions at veteran's hospitals he cares about you like he doesn't care for veterans, as espoused by a veterans group on Rachel Maddow's show
he will follow the same road as our current president hoover. he inherited a surplus and now he gave us 2008's version of the GREAT DEPRESSION II,

The Insanity of Adjustable Rate Mortgages Endures

i sold the Option ARM for 5 yrs it is or was a very good loan it was always underwritten at fully indexed payments.........so up front the borrower knew what it would be at the end of 5 yrs and we always gave them a step chart showing yearly increases, a chart they had to sign . always advised them that after 2 yrs they HAD TO start making some principal pay down. For an investor or a business owner this was the best loan for these people who get large chunks of money at various times . They made large payments at the end of the year to keep with interest owed and to pay down the principal. i sold these loans to VERY CONSERVATIVE FRIENDS. AN HONEST MAN COMES OUT AHEAD .