[FoRK] Reports from the war...

Adam L Beberg <beberg at mithral.com> on Mon Aug 6 06:20:06 PDT 2007

http://forum.brokeroutpost.com/

On Friday most mortgage rates went up 1-2% to near 8% at all the banks
that will still be in business next year. And you're going to need a 10%
down payment no matter what. That's only $170k for house down the road
from me, nothing a recent college grad doesn't have laying around, so
housing will be just fine. What, you say the small shitty house isn't
worth $1.7 million anymore, why not?!?! Hahahahahaha.

And if your credit score isn't perfect, Wachovia stopped making loans to
you - no more alt-A. Smart folks over there. How many mortgage brokers
and real estate agents and construction workers will get the axe once
the denial ends (and it still hasnt!), it's got to be at least 5 million
I figure. Should improve traffic considerably. Here is a preview:
http://www.timesonline.co.uk/tol/news/world/europe/article2204187.ece

Oh, and if your money is in a hedge fund, get it the F' out _NOW_, hedge
funds are starting to not let you withdraw money - a trick learned from
PayPal no doubt. Saves them from having to say the fund is bankrupt and
use the three most deadly words currently know to exist... mark to market.

-- 
Adam L. Beberg
http://www.mithral.com/~beberg/





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