Texsox

QUOTE(Athomeboy_2000 @ Oct 11, 2006 -> 09:36 AM) Damn, well, I guess I'll have to wait until my inheritance gets to me from my grandparents. No way I can just go buy a foreclosed house with cash on hand. and it's too hard to get a loan and HOPE you can get the house you wanted. Actually not as hard as you might expect. Most lenders will have a pre-approval process. But the foreclosure market is not as easy as it looks. You are against professionals who do this for a living. They have trained eyes for spotting issues, and know the market conditions.

QUOTE(Athomeboy_2000 @ Oct 11, 2006 -> 09:32 AM) wait, so to get a foreclosed home, I have to have a check ready to pay? I cant take out my own loan? Two different processes that could have someone lose their home via forclosure. One is defaulting on the mortage. The bank will make certain the taxes are paid so they can gain back their loan. These almost never show up on tax sales. The bank sells the property and either realizes a gain or a loss on the money that was loaned. Usually it's about a break even after fees, etc. It really depends on the amount of the down payment and the current market conditions when the bank sells. Two is not paying the property taxes. These homes are usually paid off and the people can't pay the taxes. These are the ones the government would be selling. You are competing against full time speculators with lots of experience. Good luck and buyer beware.

QUOTE(southsider2k5 @ Oct 11, 2006 -> 09:22 AM) I have no idea how the bank foreclosure stuff works. At least here, some of the banks have real estate division that sell off these homes. Typically the homes are vacant for a number of months, on up to a year as the forclosure process moves ahead. Other banks and mortgage companies will go through a real estate firm to sell them. I believe that Texas State Bank actually has a group that maximizes income on these properties by leasing some and selling others. It's a separate income center as far as I know. QUOTE(mreye @ Oct 11, 2006 -> 09:27 AM) Don't lie. You built your first house with logs. When I was looking to relocate to Wisconsin, I found a beautiful log home. I would have loved that house. 2,500 sq ft, on five wooded acres, cool loft.

QUOTE(kapkomet @ Oct 11, 2006 -> 09:14 AM) You are absolutely right, but a lot of times, in a high pressure sales situation, people don't think. Yes, it's let the buyer beware, but really, how much of that is really true? I remember when I was buying my first house. I received some good intended advice to stretch a little a buy a little more house than was comfortable to pay for today, because each year my income would be growing. Because it was the owner of the company I was working for telling me this, I followed the advice. But there was a difference of a 30 year fixed and an ARM. I knew what my payments would be, I also had a good guess about the tax situation and figured on a couple increases over the next couple years. Bottom line, I was glad I did that. The extra room was great once we started having kids. Without stretching I would have been moving again in a couple years. I was also careful in staying within reason. I knew too many people that were house rich and cash poor. So I understand how some people fall into the siren song of a nicer house than they can afford today. I also understand how the seemingly logical statement of your income will be increasing every year works. It doesn't even have to be high pressure. Just have the person stand in the four bedroom house with the big deck, three car garage, and huge master suite then in the three bedroom, two bath, with the 2 1/2 car garage, and no deck and ask them which place they want to live in today for the same money?

QUOTE(Steff @ Oct 11, 2006 -> 09:09 AM) An individual is responsible for their own actions. Exactly. But too often we go crying to the government for protection from our own stupidity.

QUOTE(NorthSideSox72 @ Oct 11, 2006 -> 09:04 AM) I've said this in here before... our current curriculum in high schools (private AND public) around the country has a big hole in the middle of it - HOW TO FUNCTION AS AN ADULT. And I don't mean socially, or in the workplace - I mean day to day things like basic finance, basic practical nutrition, etc. High school students should be required to take a course in basic personal finance. Do that, and you give them all the tools to spend and save defensively. I've said it before, probably not here, it's the parents job to teach their children to function as adults. We are shifting parenting responsibilities to the schools. Parents should teach their kids about family finances, how to balance a checkbook, how to purchase items, how to finance stuff, how to unclog a drain, lease an apartment, patch a hole in a wall, grocery shop, plan meals, ec.

QUOTE(Steff @ Oct 11, 2006 -> 08:09 AM) Seriously. It's common friggin sense. It's common friggin sense why the lender should protect the consumer, or it is common friggin sense that the consumer should understand their loan before signing? As Jas mentioned there are sound reasons for going with an ARM. And as have also been noted, there are disasters waiting to happen. If the lender is willing to take the risk that they could wind up with a house instead of payments and the borrower is willing to take the risk that their income will not increase to handle the larger payments down the road, who has the responsibility to step in and tell them it is a bad deal?

QUOTE(NUKE_CLEVELAND @ Oct 10, 2006 -> 05:04 PM) How much does anyone want to bet me that Lou Dobbs or some other idiot will get on TV and somehow blame the President for this and start another class-warfare cry-fest. Score another point for living within your means. Or just have the party faithful start the comments, why wait. The finance close is the fastest and easiest close in the world. Works for all big ticket items. Look at cars. Six year auto loans. I remember when three was the standard and four almost unheard of. Why? To sell lower payments and get people into more expensive vehicles. Historically, mortages are about the safest loan banks can make. The properties generally increase in value to the point that the banks can get out with a profit if the people default.

I've bought and sold hundreds of items on ebay without any problems. The people I know that have had poblems all said ebay solved them fast and fairly.

I have better hopes for Lennon than Paul. I think Lennon would have continued to turn out interesting and thoughtful music. But, I think Paul + John = greatness. As solo artists, not as great. There was a balance there that is missing.

QUOTE(hammerhead johnson @ Oct 10, 2006 -> 01:23 PM) People ruin everything when they go on servers to download Bob Seger's "Greatest Hits" or whatever. I was going to reply but I got too busy downloading Thriller . . .

goldy during the baseball season, something from national geographic during the of season.

THere are several industries like this. There is a limited supply, the earth isn't making much more oil. Why work overtime, keep prices low, etc.? Once it runs out the industry is dead. The onlything that will push oil companies to cut prices longterm and work hard to suck oil from the ground is ifa new battery to power our toys came along. As soon as there is a legitimate alternative, prices will fall as they try and liquidate their remaining inventory.

Walmart is the greatest example of a free economy at work and many Americans don't like what they see. They destroy competition. Companies, big and small, go out of business. And they did it by delivering a product better and cheaper than anyone else. This would not have been allowed in a more regulated and managed competitive economy. In the US, it is allowed. They won. And when I'm travelling and need to buy something, I never poke around thinking, what little mom and pop place can I find to buy this widget? Nope, I look for Walmart.

Let me see if I understand this GOP knew about it for years, did nothing. FBI knew about it for months/years, did nothing. Someone may have gone to the Dems, they did something. And we are thinking what the Dems may have done was a bad thing?

I'll bet some people are wondering what end of that fork to use and for what

I soooo wish Mariotti wrote that. We'd have a 500 post thread by supper time.

For those that accused me of not knowing dick . . .

^^^^^^^^^^^ QOTM. Now everyone walk into Jewel and ask them where the Heinz Spotted Dick is . . . from wiki Spotted Dick is a steamed suet pudding containing dried fruit, usually currants. The dessert is especially popular in the United Kingdom, usually served either with custard or with butter and brown sugar. Spotted refers to the currants (which resemble spots), and Dick may be a corruption of the word dough. Most recipes for spotted dick include the following: * White bread crumbs * Self-raising flour * Shredded suet * Raisins or currants * Salt * Nutmeg * Ginger * Mace * Citrus fruit peel * Eggs * Brandy

QUOTE(Texsox @ Oct 6, 2006 -> 11:35 AM) QUOTE(Texsox @ Oct 6, 2006 -> 12:20 PM) I'm wondering of DePloder has a special recipe for spotted dick or just prefers it hot out of the microwave. QUOTE(southsider2k5 @ Oct 6, 2006 -> 12:22 PM) Well maybe he just likes it in the can? OMFG

My grocery store has these specialty items and I was browsing, and saw that and had to double and triple check. I'm wondering of DePloder has a special recipe for spotted dick or just prefers it hot out of the microwave.

I don't have a problem with the Mets and Mets fans. The few I've met can really identify with being a White Sox fan in Chicago. Imagine being in the Yankee shadow.

If it was a 16-year old female, I believe the furor would have been much greater. We still have that double standard in society. A 16-year old male getting some is cool, the girl could quickly be called a slut. As victims, a 16-year old girl is still considered to probably be saving herself, while the guy is thought of as busy trying to get laid. And, completing the non-PC thinking, if it was an older female (especially of she was hot) and a younger male, some segments of society would be saying, lucky kid. I DO NOT AGREE WITH THE ABOVE, JUST STATING MY OPINION OF HOW REACTIONS WOULD CHANGE.

Nope, not relatives, just friends. I wonder if they brought snacks?