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| 2007/12/10-14 [Finance/Banking] UID:48772 Activity:high |
12/10 Does anyone on motd actually know someone else using 0% down
interest only home loans? I don't, and I can't imagine any
Berkeley grads stupid enough to do so.
\_ I knew someone who got a 105% loan but she got lucky, didn't get
fired, and converted a year ago. She was not a Cal grad.
\_ Of course I do. It's not really stupid. It's something smart
people do all the time. The product is really intended for
developers and/or investors who know what they are doing and
the risks involved or else disciplined people who have a
fluctuating income (e.g. small business owners who pay a
massive chunk of principle at the end of each quarter/year when
they had good business and have the extra cash). Most people never
pay their mortgage off anyway (until they sell) and principle is
such a small part of the payment that it can make sense to not
commit to it. I would have done it if I could have gotten a better
rate that way, but usually you won't. You just pay principle when
you want to, but you're not committed to it. In my world,
that's smart.
\_ principal
\_ Ironically, I spelled it "principal" and then checked the
web which had it "principle". The web site I looked at
was retarded and you are correct.
\_ I know someone who got their townhouse in DC that way. She is a
Cal undergrad and Yale grad school grad. I talked her into refi'ing
into a 30 year fixed rate about 18 months ago. She was planning on
doing it anyway, when her rate reset this year, but I think she
is glad she listened to me and did it early.
\_ Variable rate and interest only are two different things
completely. She could've refinanced into a fixed rate
interest only if she wanted.
\_ It was actually both a variable rate and an interest only
loan (with a higher rate variable 2nd, making it a no
money down loan as well). Were people actually signing up
for fixed rate, interest only loans? What was the term, i.e.
how long was the loan for? Life?
\_ Works just like variable rate except the interest rate
doesn't fluctuate.
http://tinyurl.com/2npzy8
\_ Not how I think of it. Those are 5 or 7 year fixed
rate loans only, they vary after that, so they are
really ARMs.
\_ Um, no. Some are fixed for 5 or 7 years and some are
fixed for the life of the loan. Look at the Smart30
offering and compare to SmartChoice:
http://tinyurl.com/2lcyub
Both are interest-only.
\_ Those are still only fixed for 10 years. An
interest-only loan, by definition, would never
get paid off, so it is kind of silly to claim
that the loan rate is fixed for the "life of
the loan." The Smart30 converts to a standard
fixed rate fully amortizing loan after 10 years.
\_ Are you an idiot? I hate to call names,
but read the damn link! They are fixed for
the life of the loan! Read the column that
says "fixed-rate period". What does it
say? Term of loan! Term of loan is not 10
years. Jeebus! How it's amortized has
nothing to do with the rate being fixed or
not. The loan may *never* be paid off and
it could still be at a fixed rate! That
this loan has a 10 year interest-only
period has nothing to do with whether the
rate is fixed or not.
\_ Yes, I read the link. You don't understand
what you are talking about. No one offers
a loan of infinite duration, which is what
a fixed-rate, non-amortizing loan would be.
The Smart30 is an interest only loan for
10 years, then a standard 20 year fixed
rate fully amortizing loan after that. They
both have the same interest rate, yes.
\_ No one is talking about amortization
here but you! You said "Those are 5
or 7 year fixed rate loans only, they
vary after that" which is WRONG.
Then you said "Those are still only
fixed for 10 years" which is also
WRONG! When I showed you proof you
started talking about amortization. WTF?!
I have completed all the coursework
to be a mortgage broker, so I
definitely know what I am talking
about and you are a buffoon!
Further, your reading comprehension
is terrible. I never said any of
those loans were infinite duration,
but certainly such loans are possible -
and with a fixed rate, too! I'll
make you one if you want it!
\_ Interest-only means the same things
\_ Interest-only means the same thing
as non-amortizing. You are really
clueless if you don't realize that.
Show me a fixed-rate, interest only
loan of inifinite duration, I would
loan of infinite duration, I would
be amused to know of it. As far as
I know there have only been a few
cases of this kind of note in history.
http://www.csua.org/u/k7p (tutorial)
http://www.csua.org/u/k7q (history)
Read about the losrenten and the
consols. You are talking about setting
up a perpetual annuity.
\_ You are going off on a tangent
now. Please to be acknowledging
that your two above assertions
about fixed-rate loans were
wrong and then we can talk about
amortization (or not).
\_ My initial question was "what
is the term for the fixed-rate,
interest only loan?" which you
have never really answered
except with nonesense like
"the entire term of the loan
you idiot!" Yes, I glanced at
some of the links and thought
that the longest interest only
loan was 7 years, when it was
actually 10, but you still have
not even come close to answering
my initial question. What you
call a "tangent" is actually
my initial question. Work on
your own comprehension skills.
And yes, we use the word "vary"
to mean different things. You
use it to mean the interest
rate varies, while I use it to
mean the payment varies. I think
that is the root of our
confusion.
\_ I think it was clear what
you were talking about
when you used the term
ARM and you were incorrect.
\_ My original question was:
"Were people actually signing up
for fixed rate, interest only
loans? What was the term...?"
So no, this is not a "tangent"
as you call it, it is the
original question. Your response
"the life of the loan" makes
no sense, unless you are
claiming a perpetual annuity.
It is actually kind of amusing
that you claim I have reading
comprehension problems,
considering I got a 750 on the
verbal part of the GRE. Perhaps
the communication problem is
not really on my end.
original question.
\_ What does "ARM" (a term
you used and which has
a clear meaning) mean on
your planet? You said
"Those are 5 or 7 year
fixed rate loans only, they
vary after that, so they are
really ARMs" which is
WRONG and "Those are still
only fixed for 10 years"
which is WRONG. You
have yet to demonstrate
any real understanding
of the subject or
acknowledge your
misunderstanding, so
it's pretty clear you
are the idiot here. You
are a textbook case for
why standardized
testing is USELESS.
BTW, the answer to your
question about the
length of the loan is
in the URL I provided.
\_ You don't know what the
word "vary" means in the
English language. You
think it only means to
vary the interest rate,
but it can also mean to
vary the payment amount.
Perhaps your mortgage
training taught you this
jargon, but that is not
how it is used by regular
English speakers.
\_ No one talks about
"variable payments"
w.r.t mortgages
and you are the
one who used the
term "ARM" which
means Adjustable
Rate. You are out of
your depth here.
Admit that you
didn't know what
you were talking
about, thank me
for educating you,
and move on.
\_ Go to your own
website:
http://tinyurl.com/2npzy8
"At Quicken Loans, we offer
a variety of interest-only
loan options, including [...]
adjustable-rate mortages..."
Then you claim that I was
"WRONG" for calling them
ARMs. Is an adjustable-rate
mortgage an ARM?
\_ You're a fucknut. Of
course an adjustable rate
mortgage is an ARM. The
point here is that you
are talking about RATE
not PAYMENT when *YOU*
used the term ARM. You are so
fucking inconsistent
and a revisionist to boot.
\_ I am merely quoting your
own comments directly
from earlier in the thread
I never called the
Smart30 an ARM, you just
made the wild assumption
that I did. All I said
is that it wasn't fixed
and it clearly is not,
since the payment varies
after 10 years. You made
the assumption that I was
referring to the interest
rate, but I was not. You
are a textbook example of
why a little knowledge
is a dangerous thing.
Furthermore you said:
"Those are 5 or 7 year
fixed rate loans only, they
vary after that, so they are
really ARMs" which is
WRONG". What do you call the
SmartChoice loan, from your\
own URL? It is a 3,5, or 7
year Interest-Only ARM, just
like I said. Go ahead and
admit you were wrong here.
A little confession is good
for the soul.
\_ I'm done with you. You
are all over the map
in trying to defend
your losing position,
you are stubborn, and
you are a waste of my
time. Thank me for
educating you, which
I did, and give it up. |
| 2007/12/10-14 [Uncategorized] UID:48773 Activity:nil |
12/10 You go Al Gore!
http://politicalticker.blogs.cnn.com
\_ Re-elect Al Gore |
| 2007/12/10-14 [Academia/Berkeley] UID:48774 Activity:nil |
12/10 UC Berkeley to teach engineers more people skills:
link:www.mercurynews.com/ci_7681412
\_ Hmm, I thought it was about learning how to deal with QAs and PMs.
\_ wut about the hawt HR chix?
\_ That's Chapter 14 of the textbook: Introductory Bedroom Skills
\_ Chapter 15: Tipping. |
| 2007/12/10-13 [Uncategorized] UID:48775 Activity:nil |
12/10 Voyager 2 has reached the termination shock boundary:
http://preview.tinyurl.com/2w2wlk (newscientist.com) |
| 2007/12/10-14 [Reference/BayArea, Industry/Jobs] UID:48776 Activity:kinda low |
12/10 For people in the LA area, what city has the most/best tech
startup companies? Pasadena? Santa Monica? Burbank?
\_ Yes. OC, too.
\_ MySpace is in Beverly Hills. Though they're also opening a San
Francisco office RSN. -dans
\_ Hello there, the 'myspace san francisco office' is ONLY
sales dudes. No tech guys. I mean it. None. Unless
you are a sales dude! I really doubt sales dudes post to
the motd.
\_ You probably have better information than I do. My,
entirely pulled out of my ass, speculation is that they're
using the SF office to house the MySpace platform team.
Also, if they're just sales, why are they hiring engineers
from LookSmart? -dans
\_ Because they're taking over the looksmart space and it
came with the engineers? |
| 2007/12/10-14 [Reference/Religion] UID:48777 Activity:kinda low |
12/10 Are there equivalence to the Catholic Pope for Mormons, Muslims,
Jewish, etc?
\_ no.
\_ Definitely not for Judaism though many Jewish sects/degrees of
orthodoxy have one or more groups of Rabbis who are seen as sort of
community elders. They are closer in some respect to Cardinals in
the Catholic faith, but the attitude/process seems different. In
Judaism there is a focus on argument in general, and the view that
\_ s/argument/debate/g;
\_ Sure. Though I'd argue you're
splitting hairs. -dans
\_ I think this says a lot about
you.
\_ s/argue/debate/g;
\_ Why do you keep using that
word? I do not think it
means what you think it
means. -dans
\_ You killed my father!
Prepare to die!
\_ Why am I always the
last one to know?
-dans
wisdom comes from incorporating many different, sometimes
contradictory viewpoints. I know Mormonism has a council of
elders, but couldn't tell you much more than that. jrleek could
likely explain it better. -dans
\_ great info, thanks. Are you Jewish?
\_ Ethnically yes. I'm somewhat ambivalent toward the organized
aspects of the religion at present. -dans
aspects of the religion at present. I enjoy touching men.-dans
\_ If you're going to edit my posts, please note that I
usually put two spaces after the period in the text, and
at least one after the period when I sign my name. Also,
keep in mind that regardless of the gender of who it is
that I'm fucking at any given moment, she or he is
likely way out of the league of anyone that would ever
willingly go near your trolling ass. -dans
\_ Better yet, just don't edit people's posts,
even if they're dans. -niloc
\_ Alan Greenspan is the Pope of the Jews. -troller
\- cathlolic:orthodoxy::jew,muslim:orthopraxy --psb |
| 2007/12/10-14 [Recreation/Computer/Games] UID:48778 Activity:moderate |
12/10 Fun games to play if you're bored:
http://www.pbs.org/saf/1102/features/name_game.htm
http://www.minijuegos.com/juegos/html/index.php?id=5974
Make sure to tell us what level you get to.
\_ Level 10... I don't know shit about Africa.
I would replay it but I don't want to go through the first 9
levels again.
\- i think to make the quiz "better" they should 1. make the map
bigger 2. maybe get rid of country shadings 3. not tell you
what country things are in. e.g. if they say "city of york"
obviously the only famous one is york->yorkshire. i suppose there
are some more fundamental problem as well, but those can be fixed
via the scoring system [like you error is going to be a lot higher
via the scoring system [like your error is going to be a lot higher
on a pacific island than something in england, or central
america]
\_ Level 11. Twice. -ausman
\- I think to make the map quiz "better" they need to make the
map larger, and maybe get rid of country shadings.
\_ you know why people ignore whatever shit you have to say?
it's all talk. "\- i think it's better if it is that way
or this way." Well, wake up. No one cares what you have
to say. you fix it, or you don't ... the problem persists.
opinions and criticisms are dime a dozen. do something
about it or shut the fuck up.
\- yes, "it's all talk". what were you under the impression
the motd was?
\_ Level 11, both times I played. -ausman
\_ Level 11: 440,086 points. Bloody South Pacific Islands. --erikred
\_ L11 also, around 480k. hard to play with track pad ...
I accidentally put Vancouver in SF and Jerusalem in the South
Atlantic. The gave me a lot of Mexican resorts.
\_ Uhm, wait, Vancouver isn't in SF? Damn....
\_ game flash countries country iq |