Steff

QUOTE(Rex Hudler @ Jan 19, 2006 -> 07:30 PM) That's high. I know interest rates have gone up some, but I just bought again November 30th and my payments (two mortgages) total a little over .007 (7/10 of one percent. That includes property taxes and homeowners insurance. Granted property taxes are low here, so the 1% rule may actually apply in the Chicago area. My advice, if you aren't putting 20% down (who does on their 1st house?), don't be afraid to go with two mortgages to avoid PMI. Your first mortgage will be 80% of the total and your second will be 20% minus your downpayment. Your second mortgage can be interest only or a balloon type mortgage. This will slow your equity building slightly (only slightly) and can significantly lower your payments. Explore all options, but be careful with a full interest only mortgage. If you look at that route, make sure there are safeguards built in to make sure you won't be upside down should the housing market crash. Our payment is a little less then that, but in the same neighborhood. And I agree on the 2 mortages. We had several friends and family do it that way, and we did it on our investment properties.

QUOTE(Balta1701 @ Jan 19, 2006 -> 07:29 PM) Well, Ameriquest is currently facing some pretty hefty legal problems...to the tune of a $325 million settlement with 33 states over a bunch of things, like getting people to refinance right after they were sold a first mortgage (pay closing costs twice) or only giving people high-rate mortgages despite the fact that they'd qualify for better ones. Oh yeah...there's a piece of advice...probably want to stay away from Ameriquest if you're looking for a mortgage (no offense to those who work there) Holy crapola! I had no idea...

QUOTE(kyyle23 @ Jan 19, 2006 -> 07:12 PM) The weekly LIBOR came down from Ameriquest, I am pretty sure. That was our umbrella company. Either way, rates are going up. Ours werent so good and there were plenty of people coming to us because the rates were going up everywhere. We had nothing but high class clientele, let me tell you. LMAO @ the clientele comment. I'm shocked that Ameriquest is the parent yet so many got laid off. I don't kow much about them, but from what I do they seemed to be pretty solid. How long did you work for them (and I apologize because I think I recall you posting about getting laid off, but my brain is so fried from the past month I can't think straight...) and were they cool at separation time?

QUOTE(kyyle23 @ Jan 19, 2006 -> 06:41 PM) I think Town & Country Credit and the 10 percent of its workforce who were laid off(including myself) due to rising interest rates on mortgages would like to respectfully disagree. They are still at record lows, but they are on the way up right now. Do independent lenders have the control over the rates they offer? Is it possible that T&C is having some troubles due to loans they have secured over the past 2 years..? I know that Wells Fargo is kicking strong right now. They don't have the staff to cover the new loans coming in their doors.

QUOTE(SnB @ Jan 17, 2006 -> 07:42 PM) ^ I have tickets for you... you'd know that if someone would check and respond to their email.. :rolly

QUOTE(Chisoxfn @ Jan 19, 2006 -> 05:30 PM) I could get someone the same loan today that I could a year ago. The media likes to hype a lot about the rate and sure the fed rate has adjusted, but that has a minimal effect on the rate you can get for mortages. What would change is if they made qualifications stricter on loans cause right now almost anyone can get a loan (regardless of how much money they can put down). Plus the programs out there (which are so liberal in a sense) allow people to pay a lot less on homes (low start rates, etc). Folks who just took advantage of the BK changes and filed just months ago are getting big loans. It's unreal.

QUOTE(Iwritecode @ Jan 19, 2006 -> 04:09 PM) Not sure. It's just something somebody said (I think it was when we were applying for our loan) when we were house hunting and it's stuck in my brain ever since. The other one was that house payments are typically 1% of your total mortage. Including taxes and insurance. That's about right for us as well... 1%...?? Really? So a housepayment on a $400K house should be $4K.... ? I'm no mortgage expert besides what I have paid for my own.. but that hasn't been my experience either. Jason.. being the mortgage expert can you chime in on this as well..? Even before the low interest rates I was always (and am now) well under 1%.

QUOTE(BuehrlesBlonde56 @ Jan 19, 2006 -> 03:53 PM) N0, I just have the confirmation E-mail I recieved when I ordered my weekend package. Jason and Alex always know whats going on. Anyone else with info? LMAO!!! I got my letter a couple weeks ago.

QUOTE(EvilMonkey @ Jan 19, 2006 -> 03:42 PM) And how is this different from GWB's statements and actions? You mess with us, we will f*** you up! Doesn't Chirac sound like a complete idiot in making these statements.. ?

I think a few of these are fake. Regardless, good for a chuckle or two. http://www.jokesguru.com/viewcat3.php?jid=79&p_set=1

QUOTE(Iwritecode @ Jan 19, 2006 -> 03:01 PM) I'm just repeating what I was told by a grand total of one person. It's worked for us so far... I'm paying closer to 30% of my monthly income towards my house payment. Yet the total cost is still less that double my yearly... I'm not saying it's wrong at all. Whatever works. But disposable income is different for everyone based on priorities. We could be living in a way bigger house.. but we like our Sox and Bears season tickets, cars, vacations, my shopping problem :rolly , etc, etc... and seriously.. without several kids there is no need for more then 3k sq feet, imo. We pay more then 20% also and our house didn't cost double.

QUOTE(mreye @ Jan 19, 2006 -> 02:41 PM) Did you get the Classis Triple? Mmmmmmmmm Triple...? Yikes.. I don't think I could eat all that. I got a double and barely finished it. Good though. I don't eat them often and enjoy them when I do.

QUOTE(NorthSideSox72 @ Jan 19, 2006 -> 02:36 PM) Um... OK Steff... why would you do that to us? You didn't have to click the link...

http://news.yahoo.com/s/nm/20060119/od_nm/...DRpBHNlYwM3NTc- CHICAGO (Reuters) - After five months of hearings and 6,000 public comments, the U.S. Department of Transportation declared on Wednesday what time it is in Indiana. Turns out it will still depend on where you are. Eight Indiana counties will move to the central time zone, joining 10 others clustered in the northwest and southwest corners of the state. The remaining 74 counties will remain one hour ahead in the eastern time zone. The switch takes place on April 2, when Indiana along with most of the rest of the United States advances its clocks forward one hour to observe daylight savings time. Previously, much of the state -- excepting five southeastern counties and the 10 central time zone counties -- ignored daylight savings time. But Republican Gov. Mitch Daniels made a promise to change the status quo, arguing the jumble of clock settings was confusing and posed a hindrance to businesses and residents. Each Indiana county was offered the opportunity to request a time zone and 17 asked to move to central time from eastern time. In the end, the federal agency chose eight counties to make the switch, based on factors including where the bulk of business was transacted, where radio and television signals came from, the location of the nearest transit hubs, and where most people worked. "This rule reflects careful consideration of every public comment we received," said Transportation Secretary Norman Mineta.

http://www.sportsdignity.com/0032.jpg

Just walked over to Wendy's to grab a burger and walked by a lady in her car on her cell phone.. Apparently she was extremely upset with someone whose name appeared to be either MF'er or stupid asshole, because that's what she kept calling him and boy was she LOUD. I went inside and the drive thru folks were laughing about it cause they could hear her over the speaker from the parking lot.

QUOTE(southsider2k5 @ Jan 19, 2006 -> 01:24 PM) There could be a sizable difference between buying today and 3 months from now... Who knows how long it will take the guy to find a place. Mortgage rates haven't gone up nearly as much as interest rates, so eventually there is going to be an evening out of things. Right, but even still.. the 2x rule would still not apply across the board. A better more accurate (IMO) rule is not to exceed 20% of your monthly income towards paying a house payment.

QUOTE(southsider2k5 @ Jan 19, 2006 -> 01:17 PM) Low interest rates have a lot to do with that. Once interest rates start to go up, is when you will really see that start to change back towards the 2Xs figure. What does that have to do with buying now...? Going over my homes, I was never anywhere near that rule. Never heard it before either. Too many variables to apply to everyone.

Average home price. http://usgovinfo.about.com/od/consumerawar...homeprice04.htm Average income. http://www.census.gov/hhes/income/4person.html According to that link the average was $65K in '03.

QUOTE(Balta1701 @ Jan 19, 2006 -> 01:06 PM) I take it that's possible when you're in Mich City (that's where you're at correct?) but somehow I doubt that people living closer to the city, or for another example anywhere in the state of California, are following those guidelines. The average home price is over $250K... While the average income is just over $70K... (going from memory on that - let me go find a link) So I would say that folks are finding a way to buy bigger and make it work.

QUOTE(Chisoxrd5 @ Jan 19, 2006 -> 01:00 PM) Really...I would like to know what percentage of current homeowners actually would fall under that category? Yea, me to. Cause it's BS.

QUOTE(Adam G @ Jan 19, 2006 -> 10:52 AM) We're being a weeee bit dramatic, arent we? The man makes $8 million a year, his family isnt out panhandling for food or anything. Today they aren't... but who knows how things will be in 15, 20, 30, 40 years. This is his last chance to make the bucks. He's not crying the "Spreewell Cry". I think his requests are fair and in line with the market.

QUOTE(bmags @ Jan 19, 2006 -> 12:11 PM) thanks jim, you're writing is very similar to paul konerkos i noticed... LOL..

QUOTE(CanOfCorn @ Jan 19, 2006 -> 11:39 AM) In the eyes of the US government, you can't be a dual citizen. Venezuela, on the other hand, may not mind. Did you mean to say you CAN be a dual citizen...? http://travel.state.gov/travel/cis_pa_tw/cis/cis_1753.html The U.S. Government recognizes that dual nationality exists but does not encourage it as a matter of policy because of the problems it may cause.

Of the 4, Bourbon Street, Puffers, Jimbo's, and Cork & Kerry.. Bourbon Street would be where I would go if I was interested in big tv's and a good beer selection. They have good food there also. And filled with Sox fans of course. Anyone else not like Puffers..?