• Guest, The rules for the P & N subforum have been updated to prohibit "ad hominem" or personal attacks against other posters. See the full details in the post "Politics and News Rules & Guidelines."

So how much have you lost so far?

Page 2 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.

Coolone

Senior member
Aug 18, 2001
983
0
0
Originally posted by: alkemyst
Originally posted by: Linflas
Yet again:
1. Not a "Yank" you kangaroo stalking freak. ;):beer:
2. Have a 30 year fixed mortgage that we have been paying on time since it was established.
3. No need to sell stock at the moment so I have lost nothing.
Is he still stalking if the kangaroo consented?
Welcome to Australia, where the men are friendly, and the kangaroos are afraid ;)
 

Exterous

Super Moderator
Jun 20, 2006
19,428
2,275
126
Originally posted by: Chryso
The thing I don't get is why all these morons took out adjustable rate mortgages when interest rates were at historical lows.
I blame the school system.
:thumbsup: I look at the commercials I see for mortgages and shake my head in wonder at why people would sign up for some of these offers. They might as well say - buy a house now so we can rape you tomorrow
 

Coquito

Diamond Member
Nov 30, 2003
8,559
1
0
:music:
I once had an ice cube,
pretty little ice cube
Now it's gone
Now it's gone

Her name was Mary,
pretty little ice cube
Now she's gone
Now she's gone

She was so shiny,
my pretty little ice cube
Now she's gone
Where's she gone?

She's gone with the others,
the shiny little ice cubes
Movin' on
Movin' on
She's gone

Doesn't nothing ever last forever?

I miss my ice cube
Pretty little ice cube
Since she's withdrawn

I held her in my hand,
my chilly little ice cube
Was it wrong?
Was it wrong?

She slipped away,
my moist little ice cube,
to oblivion
Oblivion

She left me standing,
with tears on my face,
on the lawn
So I wrote this song

Pretty little ice cube,
where have you gone?
Doesn't nothing ever last forever?

It's been declared,
that it's not wise to prize something too much
I just wish to find something
to fondle and to touch so gently

Doesn't nothing ever last forever?
:music:

Primus - Mary the Ice Cube
 

waggy

No Lifer
Dec 14, 2000
68,145
9
81
Originally posted by: Linflas
The closest thing we ever did to "creative financing" was when we moved from a townhouse to our current single family house. This was in 1996 which was when we were just coming off the last real estate downturn and the builder was offering something called a 3-2-1 buy down loan. I don't recall what the exact rates were but just as an example our interest rate for the first year in the house was 7%, the 2nd year 7.5%, the third year 8% and after that it would go to 8.5% for year 4-30. In reality the mortgage was for 8.5% and the builder funded a buy down account that covered the difference between the 8.5% and the rate we paid in the first 3 years.

Given our situation at that time once I ensured that there were no hidden gotcha's it was a no brainer. At that time interest rates were still dropping and I could do a VA streamline at anytime if necessary. Rates in fact did continue to drop so right before the 3rd year rate was due to kick in we did a refinance to a standard 30 year fixed rate mortgage. The key was making sure that we could afford the payment at 8.5% if it came to that and that there were no penalties for refinancing.
8.5%!? wow.

is that average or what? seems pretty high.
 

Nik

Lifer
Jun 5, 2006
16,125
2
56
"then one day the stock market fell
but we was so poor that we couldn't tell"
 

thepd7

Diamond Member
Jan 2, 2005
9,429
0
0
lol I am loving this since I have absolutely no stock since I jsut graduated college. Hopefully soon I will have a job and consequently stock so I can buy soon.
 

Linflas

Lifer
Jan 30, 2001
15,388
75
91
Originally posted by: waggy
Originally posted by: Linflas
The closest thing we ever did to "creative financing" was when we moved from a townhouse to our current single family house. This was in 1996 which was when we were just coming off the last real estate downturn and the builder was offering something called a 3-2-1 buy down loan. I don't recall what the exact rates were but just as an example our interest rate for the first year in the house was 7%, the 2nd year 7.5%, the third year 8% and after that it would go to 8.5% for year 4-30. In reality the mortgage was for 8.5% and the builder funded a buy down account that covered the difference between the 8.5% and the rate we paid in the first 3 years.

Given our situation at that time once I ensured that there were no hidden gotcha's it was a no brainer. At that time interest rates were still dropping and I could do a VA streamline at anytime if necessary. Rates in fact did continue to drop so right before the 3rd year rate was due to kick in we did a refinance to a standard 30 year fixed rate mortgage. The key was making sure that we could afford the payment at 8.5% if it came to that and that there were no penalties for refinancing.
8.5%!? wow.

is that average or what? seems pretty high.
Yes they do seem high now but compared to those wonderful days of Jimmy Carter and 18% mortgage rates our first mortgage in 1989 at 10.5% seemed a bargain and 8.5% was right in the average area when we were buying. This is why I laugh at all the doom and gloomers, compared to the late 1970's this economy is incredible.

HSH's National Monthly Mortgage Statistics: 1996
HSH's National Monthly Mortgage Statistics: 1989
 

BurnItDwn

Lifer
Oct 10, 1999
25,712
1,224
126
My townhouse went down in value by about 10K over the last 12 months.

Over the last week my WAG stock is up a couple of dollars per share, though currently today it's down 32 cents today.

My Profit Sharing (which is split up to a S&P 400 index fund 11%/S&P 500 index fund 35%/russell 2000 index fund 10%/Mid-Size Company Stock Fund 10%/Large Company Stock Fund 34%) is up thus far over 2007, but the russel 2000 index fund is down about 3.5% YTD (though last year it gained 18% ... and the 10 year avg is over 9% ... so the risk is expected.)

That said, the WAG stock I plan on keeping for at least the next 20 years. The Profit Sharing is my retirement account, so I won't tap into that until around 2046 (that will be my 50 year anniversary with this company .... so I figure after 50 years, I'll be ready to retire)

I expect to ride out at least 2 or 3 big market crashes before my retirement time comes .... :)
 

Kadarin

Lifer
Nov 23, 2001
44,302
9
81
My stock is down about $4/share under what it was a few weeks ago, but I couldn't sell at the time anyway due to blackout. I'm renting, not owning, so I've lost nothing actual.
 

dug777

Lifer
Oct 13, 2004
24,778
3
0
Originally posted by: Kadarin
My stock is down about $4/share under what it was a few weeks ago, but I couldn't sell at the time anyway due to blackout. I'm renting, not owning, so I've lost nothing actual.
I wish you'd tell us who you were, or at least how we've never noticed you prior to a few weeks ago :(
 

DLeRium

Lifer
Feb 19, 2001
20,158
20
81
I live in CA in the Silicon Valley. I don't think housing is as bad as they say it is. Everytime we see slowdowns in home sales or home figures it doesn't even apply here. You still see houses disappearing off the market within a week.


Originally posted by: Linflas
Originally posted by: waggy
Originally posted by: Linflas
The closest thing we ever did to "creative financing" was when we moved from a townhouse to our current single family house. This was in 1996 which was when we were just coming off the last real estate downturn and the builder was offering something called a 3-2-1 buy down loan. I don't recall what the exact rates were but just as an example our interest rate for the first year in the house was 7%, the 2nd year 7.5%, the third year 8% and after that it would go to 8.5% for year 4-30. In reality the mortgage was for 8.5% and the builder funded a buy down account that covered the difference between the 8.5% and the rate we paid in the first 3 years.

Given our situation at that time once I ensured that there were no hidden gotcha's it was a no brainer. At that time interest rates were still dropping and I could do a VA streamline at anytime if necessary. Rates in fact did continue to drop so right before the 3rd year rate was due to kick in we did a refinance to a standard 30 year fixed rate mortgage. The key was making sure that we could afford the payment at 8.5% if it came to that and that there were no penalties for refinancing.
8.5%!? wow.

is that average or what? seems pretty high.
Yes they do seem high now but compared to those wonderful days of Jimmy Carter and 18% mortgage rates our first mortgage in 1989 at 10.5% seemed a bargain and 8.5% was right in the average area when we were buying. This is why I laugh at all the doom and gloomers, compared to the late 1970's this economy is incredible.

HSH's National Monthly Mortgage Statistics: 1996
HSH's National Monthly Mortgage Statistics: 1989

That's high as hell. Seriously. I know 18% was bad back in those days, but 8% today... you're kidding me right? Sub 5% ftw!
 

dug777

Lifer
Oct 13, 2004
24,778
3
0
Originally posted by: DLeRium
I live in CA in the Silicon Valley. I don't think housing is as bad as they say it is. Everytime we see slowdowns in home sales or home figures it doesn't even apply here. You still see houses disappearing off the market within a week.


Originally posted by: Linflas
Originally posted by: waggy
Originally posted by: Linflas
The closest thing we ever did to "creative financing" was when we moved from a townhouse to our current single family house. This was in 1996 which was when we were just coming off the last real estate downturn and the builder was offering something called a 3-2-1 buy down loan. I don't recall what the exact rates were but just as an example our interest rate for the first year in the house was 7%, the 2nd year 7.5%, the third year 8% and after that it would go to 8.5% for year 4-30. In reality the mortgage was for 8.5% and the builder funded a buy down account that covered the difference between the 8.5% and the rate we paid in the first 3 years.

Given our situation at that time once I ensured that there were no hidden gotcha's it was a no brainer. At that time interest rates were still dropping and I could do a VA streamline at anytime if necessary. Rates in fact did continue to drop so right before the 3rd year rate was due to kick in we did a refinance to a standard 30 year fixed rate mortgage. The key was making sure that we could afford the payment at 8.5% if it came to that and that there were no penalties for refinancing.
8.5%!? wow.

is that average or what? seems pretty high.
Yes they do seem high now but compared to those wonderful days of Jimmy Carter and 18% mortgage rates our first mortgage in 1989 at 10.5% seemed a bargain and 8.5% was right in the average area when we were buying. This is why I laugh at all the doom and gloomers, compared to the late 1970's this economy is incredible.

HSH's National Monthly Mortgage Statistics: 1996
HSH's National Monthly Mortgage Statistics: 1989

That's high as hell. Seriously. I know 18% was bad back in those days, but 8% today... you're kidding me right? Sub 5% ftw!
Interest rates here just went over 6% the other day ;)
 

Kadarin

Lifer
Nov 23, 2001
44,302
9
81
Originally posted by: dug777
Originally posted by: Kadarin
My stock is down about $4/share under what it was a few weeks ago, but I couldn't sell at the time anyway due to blackout. I'm renting, not owning, so I've lost nothing actual.
I wish you'd tell us who you were, or at least how we've never noticed you prior to a few weeks ago :(
Why do you wish that?
 

jackace

Golden Member
Oct 6, 2004
1,307
0
0
The Average American consumer is completely clueless on how to manage money, interest rates, investments, etc. Our society is too concerned about WTF Hollywood and all the celebrities are doing to worry about the "little things" mentioned above.
 

dug777

Lifer
Oct 13, 2004
24,778
3
0
Originally posted by: Kadarin
Originally posted by: dug777
Originally posted by: Kadarin
My stock is down about $4/share under what it was a few weeks ago, but I couldn't sell at the time anyway due to blackout. I'm renting, not owning, so I've lost nothing actual.
I wish you'd tell us who you were, or at least how we've never noticed you prior to a few weeks ago :(
Why do you wish that?
It would sooth my fractured soul :eek:
 

Kadarin

Lifer
Nov 23, 2001
44,302
9
81
Originally posted by: dug777
Originally posted by: Kadarin
Originally posted by: dug777
Originally posted by: Kadarin
My stock is down about $4/share under what it was a few weeks ago, but I couldn't sell at the time anyway due to blackout. I'm renting, not owning, so I've lost nothing actual.
I wish you'd tell us who you were, or at least how we've never noticed you prior to a few weeks ago :(
Why do you wish that?
It would sooth my fractured soul :eek:
I've been lurking, and am now making up for lost posts.. :p
 

Jeff7

Lifer
Jan 4, 2001
41,599
17
81
My losses: $0.


It sounds more and more like too many Americans have no clue how to spend money. And of course, and unfortunately in that respect, we have a truly representative government.

It is amusing, too. Those who aren't super-rich will spend so much money trying to live like the rich people they see on TV, that they just wind up bankrupt. It's like bleeding yourself to cure anemia. It doesn't solve the problem, and it's just really really stupid.
 

oog

Golden Member
Feb 14, 2002
1,721
0
0
Originally posted by: waggy
Originally posted by: Chryso
The thing I don't get is why all these morons took out adjustable rate mortgages when interest rates were at historical lows.
I blame the school system.
yeah i asked that in a diffrent thread.


1) bad credit
2) do not have %20 down.


but yeah we were could have got a adjustable rate. But i didn't see the point of it it. sure it was .1-3% less then a fixed but it would go up. i don't want my mortgage to go up!
as for #2, it would probably be possible to get a fixed rate mortgage for the 80% and something like a HELOC for the remaining amount. yes, the interest would fluctuate on the HELOC, but hopefully you could push to pay that smaller adjustable part faster.
 

Linflas

Lifer
Jan 30, 2001
15,388
75
91
Originally posted by: DLeRium
I live in CA in the Silicon Valley. I don't think housing is as bad as they say it is. Everytime we see slowdowns in home sales or home figures it doesn't even apply here. You still see houses disappearing off the market within a week.


Originally posted by: Linflas
Originally posted by: waggy
Originally posted by: Linflas
The closest thing we ever did to "creative financing" was when we moved from a townhouse to our current single family house. This was in 1996 which was when we were just coming off the last real estate downturn and the builder was offering something called a 3-2-1 buy down loan. I don't recall what the exact rates were but just as an example our interest rate for the first year in the house was 7%, the 2nd year 7.5%, the third year 8% and after that it would go to 8.5% for year 4-30. In reality the mortgage was for 8.5% and the builder funded a buy down account that covered the difference between the 8.5% and the rate we paid in the first 3 years.

Given our situation at that time once I ensured that there were no hidden gotcha's it was a no brainer. At that time interest rates were still dropping and I could do a VA streamline at anytime if necessary. Rates in fact did continue to drop so right before the 3rd year rate was due to kick in we did a refinance to a standard 30 year fixed rate mortgage. The key was making sure that we could afford the payment at 8.5% if it came to that and that there were no penalties for refinancing.
8.5%!? wow.

is that average or what? seems pretty high.
Yes they do seem high now but compared to those wonderful days of Jimmy Carter and 18% mortgage rates our first mortgage in 1989 at 10.5% seemed a bargain and 8.5% was right in the average area when we were buying. This is why I laugh at all the doom and gloomers, compared to the late 1970's this economy is incredible.

HSH's National Monthly Mortgage Statistics: 1996
HSH's National Monthly Mortgage Statistics: 1989

That's high as hell. Seriously. I know 18% was bad back in those days, but 8% today... you're kidding me right? Sub 5% ftw!
Go back and re-read. The 8% I referred to was in 1996, not 2007.
 

ASK THE COMMUNITY