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California Leads the Way
Old 04-27-2006, 08:44 PM   #1
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California Leads the Way

All the latest ideas and leading edge technology seem to originate in California, especially Southern California. The latest innovation, from San Bernadino County: The 50 Year Mortgage.

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Re: California Leads the Way
Old 04-27-2006, 09:04 PM   #2
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Re: California Leads the Way

My company started marketing interest only 40yr mortgages because people couldn't qualify with the 30yr or even 2yr arm payments anymore. And we even allow people up to 55% debt to income ratios. It's spooky out there... :

-Jay

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Re: California Leads the Way
Old 04-27-2006, 09:11 PM   #3
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Re: California Leads the Way

REW, you seem like a pretty financially savvy guy, maybe you can help me with a question:

Should I pay off my 50-year mortgage or should I leave it invested in the stock market?
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Re: California Leads the Way
Old 04-27-2006, 09:15 PM   #4
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Re: California Leads the Way

Quote:
Originally Posted by Nords
Should I pay off my 50-year mortgage or should I leave it invested in the stock market?
Where the h*ll are TH and SG when you need them.

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Re: California Leads the Way
Old 04-27-2006, 09:32 PM   #5
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Re: California Leads the Way

$CDN is almost $0.90 versus $0.65 a few years ago, Bernake will be forced to make some dramatic hikes in rates to defend the Greenback, House Prices are Inversly Related to Interest Rates..
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Re: California Leads the Way
Old 04-27-2006, 09:35 PM   #6
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Re: California Leads the Way

Quote:
Originally Posted by REWahoo!
All the latest ideas and leading edge technology seem to originate in California, especially Southern California.* The latest innovation, from San Bernadino County: The 50 Year Mortgage.

True enough. *Whether it's a screwball idea, or
one that makes
sense, you can almost set your watch to a 2 year time-frame on the
time that it takes to "infect" the rest of the country on Calif. originated ideas.

I'm holding out for a 75 year mortgage.
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Re: California Leads the Way
Old 04-27-2006, 09:41 PM   #7
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Re: California Leads the Way

I guess my (unborn) grandkids can finish paying off this mortgage.
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Re: California Leads the Way
Old 04-27-2006, 09:42 PM   #8
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Re: California Leads the Way

Oh I forgot - And pay for this nice deficit.
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Re: California Leads the Way
Old 04-28-2006, 12:39 AM   #9
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Re: California Leads the Way

Can I consider Social Security a form of 75 year mortgage?
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Re: California Leads the Way
Old 04-28-2006, 04:24 AM   #10
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Re: California Leads the Way

Super-long-term mortgages were popular in Japan -- just before the bubble burst.
Is that the sound of the bell ringing at the top I hear?

Bpp
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Re: California Leads the Way
Old 04-28-2006, 12:56 PM   #11
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Re: California Leads the Way

Quote:
Originally Posted by REWahoo!
Where the h*ll are TH and SG when you need them.
Somewhere between sunning myself on the patio and not giving a ****!

That mortgage arb thing works out great until we hit a long bad patch in the stock market or somebody needs to go back to work. You get to have a much higher withdrawal rate, much higher taxes, and if you do it right, you might need more money and to work longer to achieve a percentage point or two of profit from the loan.

Or you can be batty and retire earlier and on less money, be able to pay the bills with a walmart job if something bad happens, have a lower withdrawal rate and taxes, and have a much less risky or far more risky portfolio than you otherwise would keep...because you really dont need a big monthly cash flow.

There...will that hold you for a while?
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Re: California Leads the Way
Old 04-28-2006, 01:22 PM   #12
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Re: California Leads the Way

Quote:
Originally Posted by Cute Fuzzy Bunny
There...will that hold you for a while?
Works for me...and the folks with 50 year mortgages have plenty of time to do an analysis and figure out what's best.

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Re: California Leads the Way
Old 04-28-2006, 05:41 PM   #13
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Re: California Leads the Way

It's kinda funny that a fixed 50 year loan is actually much more conservative than the interest only "option" variable rate loans that are rampant in CA these days.
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