Jazz for aficionados

Rok, what was the truth yesterday, is a big fat lie today. I don't know if you've ever watched "Charley Chan", but I'm a Charley Chan fan, and I think about how all the different departments functioned like they were supposed to; now everything functions according to "money", and people do as they are told and not according to the purpose for which they were hired.

For example: raising interest rates was the very worst thing a person could do when unemployment was high, plus a lot of people had those loans where their payments went up if the interest rate went up. Those people lost their homes when they couldn't pay, because their house payments went a lot higher than they agreed on.

"They said", meaning they who say whatever they are told to say; they said those people tried to buy more house than they could pay for; but the truth is those people agreed to payments they could make; say a thousand dollars a month, but when the payment went to two thousand a month, they couldn't pay, and were foreclosed on.

A high school graduate in economics would have known not to raise the interest rate, why didn't Ben Bernanke Know not to raise the rate? He's stated that raising the rate was a mistake. What good does that do all those homeless people? Is knowing how to install a cartridge more important than paying attention to what's going on in Washington?

I know this is completely off subject, but I do that occasionally.



Enjoy the music.

***** I know this is completely off subject, but I do that occasionally.****

Not only off subject, but dead wrong.  The interest rate on "
fixed rated" mortgages never changes.   Your monthly mortgage payment will remain constant for the life of the loan.  Some people pay their property tax monthly with their mortgage as one payment.  An increase in property tax can result in an increase in your monthly payment, but that's due to tax increases not interest rates.

If you have a 'variable rate' or a mortgage with a Balloon a payment, it can increase.  But all of this is explained when you sign the loan.  Don't blame the Fed.  There should not be any surprises here.

Basic problem:  There are two types of people in the world.

(1)  People who think if it's possible for something to go wrong or bad, it will.
(2)  People that always think everything be all right.  The best possible outcome will always be THE outcome.  They go through life just a wishing and a hoping.  They also think that everyone in the world should look out for them, and their best interest.

I am of the first type.  Folks who took out mortgages on houses they could not afford are of the second type.

As the folks in the military always say, don't make plans based on what the enemy might do, plan according to what he has the capability to do.

Cheers

"Not only off subject, but dead wrong. The interest rate on
fixed rated" mortgages never changes. Your monthly mortgage payment will remain constant for the life of the loan. Some people pay their property tax monthly with their mortgage as one payment. An increase in property tax can result in an increase in your monthly payment, but that's due to tax increases not interest rates."


    THE SKY IS BLUE, I DIDN'T KNOW THAT.

Those people were encouraged to take out those loans by their political representatives, who they trusted and believed in. Those loans were presented as the thing to do. If what you are saying is don't believe your government, you got that right.

I sold real estate, and I would not have gotten one of those loans for my worst enemy. I worked for my clients, some of who were not the swiftest, that's why they came to me; I was suppose to lead them.

It's not the house, but the house payment; you're using the same exact language "They Used". What language was everybody using before those people signed the papers?

Why did Ben Bernanke raise the interest rate? He said inflation. Was that a period of inflation when we had high unemployment?

I had a dummy over to my house, whose house is paid for, he was telling me the kind of loan he got and how smart he was. The dummy forgot I negotiated the special low rate loan he got, and I had to bring loans to that company in order to get his loan.

"They bought houses they could not afford". They agreed to payments they could make when they signed the papers. I'm not talking about one individual, but a mass of individuals who were encouraged to take out these loans, and shady fast talking real estate agents who encouraged them.

Can you answer the question as to why Ben Bernanke raised the interest rate? If it was the right thing to do, why did he say it was a mistake? can you answer those two questions; if not, the case is closed.

Rok you were "property" of the US government, you could have gotten court-martial for getting frost bite in Alaska. You were not paid to think; but that's the way all military's have functioned since time began.

It's good to get off subject occasionally. If you notice, none of the wire worshipers but in.



Enjoy the music.

See type number Two.  :)   Fits your clients to a T.

Cheers