Evan Wrote:HAULN-SS Wrote:Yah - are you sure you meant to say lowers principle there? I heard of allowing refinance for an underwater loan but I never heard of a lowering principle program. That's some commie bullshit.
Its right here. Principal Reduction Alternative.
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<!-- m --><a class="postlink" href="http://www.irs.gov/uac/Principal-Reduction-Alternative-Under-the-Home-Affordable-Modification-Program">http://www.irs.gov/uac/Principal-Reduct ... on-Program</a><!-- m -->
"You have a financial hardship and are either delinquent or in danger of falling behind."
Lee maybe not the best idea to post about your supercharged jaguar ,all your expensive watches, big retirement account, and golf vacations when you turn around and steal money from taxpayers and people who choose to pay for what they purchase. Haha easy there Evan McLynchmob...financial hardship was not one of the requirements for whatever program I ended up in. They are so crazy in depth with documentation for loans now. Everything I submitted to the loan company was fine and if I remember right went through several layers of scrutiny and approval. In fact, I went back and looked and it was not the main HAMP or PRA program, those are actual loan modification programs that include a 3 year principal reduction period. Mine was not a loan modification it was an actual refinance program.
I believe mine was a Freddie Mac or Fannie Mae loan originally, which they created separate programs for. One helped out people who couldn't pay their mortgage and the other was for people who were just underwater. I remember I was extremely lucky on this point; the mortgage broker who wrote the deal (friend of mine and former JMU'er, one of the best / highest volume brokers in Charlotte) couldn't even refinance his own home because he didn't qualify for it due to his loan being owned by another company.
I like to do everything by the book buddy 
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And having read back through my documents again because I was curious, it wasn't a true $20k principal reduction so I misspoke  The program allowed me to refinance and avoid bringing $20k+ to the table because the neighborhood comps weren't even close to what I owed on the house. The equity I have now is a combination of paying more toward principal every month and the increase in home value, which would have been nullified if I had to have brought a ton of money to closing.
I think this is the one: <!-- m --><a class="postlink" href="http://www.freddiemac.com/mortgage_help/harp.html">http://www.freddiemac.com/mortgage_help/harp.html</a><!-- m -->
Hopefully that keeps the forum whistleblowers off my tail for another few months
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WRXtranceformed Wrote:Evan McLynchmob...
That should definitely stick.
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Alibaba IPO anyone?
<!-- m --><a class="postlink" href="http://www.usatoday.com/story/tech/columnist/shinal/2014/09/15/alibaba-ipo-retail-investors-beware/15676371/">http://www.usatoday.com/story/tech/colu ... /15676371/</a><!-- m -->
The only thing that stops a bad guy with a van is a good guy with a van
BLINGMW Wrote:Alibaba IPO anyone?
<!-- m --><a class="postlink" href="http://www.usatoday.com/story/tech/columnist/shinal/2014/09/15/alibaba-ipo-retail-investors-beware/15676371/">http://www.usatoday.com/story/tech/colu ... /15676371/</a><!-- m -->
Was valued around 60-68, then opened at 93? ..... mmmm I think I'll have to pass, let that cool off a little...
The only thing that stops a bad guy with a van is a good guy with a van
BLINGMW Wrote:BLINGMW Wrote:Alibaba IPO anyone?
<!-- m --><a class="postlink" href="http://www.usatoday.com/story/tech/columnist/shinal/2014/09/15/alibaba-ipo-retail-investors-beware/15676371/">http://www.usatoday.com/story/tech/colu ... /15676371/</a><!-- m -->
Was valued around 60-68, then opened at 93? ..... mmmm I think I'll have to pass, let that cool off a little...
damn him and his 40 thieves.
you know what pisses me off? Is when a stable, long term growth, dividend paying, low P/E company like FORD loses 10% in a couple hours. :evileye:
The only thing that stops a bad guy with a van is a good guy with a van
sounds like time to buy more.
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--------------------------
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Normally I would agree, but I'm torn between that and selling everything and hiding under a rock like I almost did a couple weeks ago (and wish I had). The only thing I'm holding that HASN'T taken a 10%+ hit over the last few weeks is DIS.
The only thing that stops a bad guy with a van is a good guy with a van
well, party's over :vomit:
The only thing that stops a bad guy with a van is a good guy with a van
BLINGMW Wrote:well, party's over :vomit: Ive been in cash all year because I hated the fundamentals of the rally. If I were smarter I would have been able to time it better. Oh well.
Hopefully will be time to get back in before the end of the year
6% correction? back in at 10?
2013 Cadillac ATS....¶▅c●▄███████||▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅||█~ ::~ :~ :►
2008 Chevy Malibu LT....▄██ ▲ █ █ ██▅▄▃▂
1986 Monte Carlo SS. ...███▲▲ █ █ ███████
1999 F250 SuperDuty...███████████████████►
1971 Monte Carlo SC ...◥☼▲⊙▲⊙▲⊙▲⊙▲⊙▲⊙▲⊙☼◤
HAULN-SS Wrote:6% correction? back in at 10? I think this is going to be a slide to dow at <14000
The only thing that stops a bad guy with a van is a good guy with a van
BLINGMW Wrote:HAULN-SS Wrote:6% correction? back in at 10? I think this is going to be a slide to dow at <14000 wow you guys are more pessimistic than I am!
I was thinking I would wait until 15 even, but it would probably bounce before then and Id miss the boat
by 10 i meant 10% correction..
2013 Cadillac ATS....¶▅c●▄███████||▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅||█~ ::~ :~ :►
2008 Chevy Malibu LT....▄██ ▲ █ █ ██▅▄▃▂
1986 Monte Carlo SS. ...███▲▲ █ █ ███████
1999 F250 SuperDuty...███████████████████►
1971 Monte Carlo SC ...◥☼▲⊙▲⊙▲⊙▲⊙▲⊙▲⊙▲⊙☼◤
Dollar cost averaging son! Break that investment up over the course of the year and it minimizes the impact that market swings will have on your portfolio.
Or you could just play the NFL spreads like Mayweather and hit it big: <!-- m --><a class="postlink" href="http://espn.go.com/espn/chalk/story/_/id/11691925/floyd-mayweather-jr-wins-600k-las-vegas-bet-following-geno-smith-interception">http://espn.go.com/espn/chalk/story/_/i ... terception</a><!-- m -->
I have a buddy that owns several small businesses here and he dumps all of his money into the market in January from the profits he earns. Unfortunately he has to ride out the beating he is taking right now.
Posting in the banalist of threads since 2004
2017 Mazda CX-5 GT AWD Premium
Past: 2016 GMC Canyon All Terrain Crew Cab / 2010 Jaguar XFR / 2012 Acura RDX AWD Tech / 2008 Cadillac CTS / 2007 Acura TL-S / 1966 5.0 HO Mustang Coupe
2001 Lexus IS300 / 2004 2.8L big turbo WRX STI / 2004 Subaru WRX / A couple of old trucks
WRXtranceformed Wrote:...Unfortunately he has to ride out the beating he is taking right now. Well, he... could... sell :dunno:
I sure did!
The only thing that stops a bad guy with a van is a good guy with a van
BLINGMW Wrote:WRXtranceformed Wrote:...Unfortunately he has to ride out the beating he is taking right now. Well, he... could... sell :dunno:
I sure did! Buy high sell low isn't the best strategy if you are in it for the long haul like he is
Posting in the banalist of threads since 2004
2017 Mazda CX-5 GT AWD Premium
Past: 2016 GMC Canyon All Terrain Crew Cab / 2010 Jaguar XFR / 2012 Acura RDX AWD Tech / 2008 Cadillac CTS / 2007 Acura TL-S / 1966 5.0 HO Mustang Coupe
2001 Lexus IS300 / 2004 2.8L big turbo WRX STI / 2004 Subaru WRX / A couple of old trucks
WRXtranceformed Wrote:Buy high sell low isn't the best strategy if you are in it for the long haul like he is :lol: Well I don't think that's anyone's strategy, but blind buy in Jan and never sell, while easy and will probably work out, could leave a lot of $ on the table. It's pretty important to have *some* exit strategy, some scenario or triggers that would make you sell other than "I'm 65", "dow is 0", or "zombies".
The only thing that stops a bad guy with a van is a good guy with a van
yeah Im with channing.
The financial planning industry is dependent on you leaving your money with them even with things go completely tits up. Since investing is 'hard' I guess most people just believe the stuff they say let themselves lose money when they dont have to :dunno:
Dollar cost averaging is something financial planners made up to keep you from pulling all your money out and hurting their commissions.
"In it for the long haul" means that the money you lose now could have been a LOT of money later. Makes even less sense to take losses.
If you pay attention and stay on top of things just a little bit, its not hard at all to make a LOT more money by moving in and out of positions, even if its just a couple times a year, and no need to time things perfectly.
Or you find someone to manage your money who knows how to play the down side and all volatility to make you even more money.
Those guys arent affiliated with an investment bank and dont just sell you an the bank's funds, which is the predominant form of financial planners these days unfortunately.
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