Essential Economics for Politicians

espola said:
We had an adjustable mortgage that got up to over 20% once. We were able to refinance after a couple of years to a loan below 10%, and an even lower rate than that when we refinanced in a deal that got some cash out of the equity. My experience from all that was that if you are holding an asset with positive equity and a good credit record then lenders will fight each other to give you money.
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That’s the ticket! Why is it that we Dems understand how to do this and those guys don’t?
 
espola said:
We had an adjustable mortgage that got up to over 20% once. We were able to refinance after a couple of years to a loan below 10%, and an even lower rate than that when we refinanced in a deal that got some cash out of the equity. My experience from all that was that if you are holding an asset with positive equity and a good credit record then lenders will fight each other to give you money.
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That’s right. They’re always happy to ammortize another loan for you people who ignore the time value of money. The bank is in the lending business instead of the real estate business for a reason. And it’s not so you can make more money than they do. Just in case you RE gurus haven’t noticed.
 
Bruddah IZ said:
That’s right. They’re always happy to ammortize another loan for you people who ignore the time value of money. The bank is in the lending business instead of the real estate business for a reason. And it’s not so you can make more money than they do. Just in case you RE gurus haven’t noticed.
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Did you intend that to make sense to anyone but yourself?
 
Lion Eyes said:
I didn't get hurt jackass...
I still have my home in Camarillo that I bought in 1991
It's appraised for at least 4 times what I purchased it for...
Merry Christmas Einstein.
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You mean you didn’t sell it in ‘94? I think you may have some ideas to offer to some of your cronies on here. Or maybe Iz can convince you to be a “bank” and not a homeowner. LOL
 
Bruddah IZ said:
You will learn more if you do both.
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Are you a bank, or a real property owner, or both? I’ve never met a guy who is an individual mortgage lender! I’ve met some bank presidents and owners, but they are not “banks.” I’m curious as to how you evaluate our choice to be a bank or a property buyer.
 
messy said:
Are you a bank, or a real property owner, or both? I’ve never met a guy who is an individual mortgage lender! I’ve met some bank presidents and owners, but they are not “banks.” I’m curious as to how you evaluate our choice to be a bank or a property buyer.
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Time value of money.
 
messy said:
Are you a bank, or a real property owner, or both? I’ve never met a guy who is an individual mortgage lender! I’ve met some bank presidents and owners, but they are not “banks.” I’m curious as to how you evaluate our choice to be a bank or a property buyer.
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Time value of money.
 
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