[Shotimes] Re: (OT) More UAW workers bankrupt - Detroit news

[Ron Porter]

IMHO, Interest-only mortgages are an excellent tool for frequent
transferees. Like I was. FWIW, I was in my 2nd house in early 1985, then I
moved to my current house in 5/1999, and it was my 9th house!!

 

I doubt that the interest-only mortgage was used by many ordinary
folks...but I'm sure that there was a few idiots in that bunch.

 

Doesn't matter, as there are four houses For Sale on my small street. The
beautiful house across the street started out cheap at $319K (they had
already moved to Chicago, and it "was" worth at least $340K), and they are
now down to $299K. 

 

They bought  it for about $280K a few years ago, so they will still break
even.

Ron Porter

 

  _____  

From: Charles Cooper [mailto:aqua86@comcast.net] 
Sent: Tuesday, September 20, 2005 5:24 PM
To: `V8 sho@v8sho.com; `V6 SHOtimes
Subject: Re: [Shotimes] (OT) More UAW workers bankrupt - Detroit news

 

I wonder what the fall-out is going to look like when all of these interest
only Mortgages come due. I live in Ford/GM country and it's amazing the
number of houses that are only a few years old up for sale.

----- Original Message ----- 

From: Paul Nimz <mailto:pnimz@v8sho.com>  

To: `V8 sho@v8sho.com <mailto:sho@v8sho.com>  ; `V6
<mailto:SHOtimes@autox.team.net>  SHOtimes 

Sent: Tuesday, September 20, 2005 1:21 PM

Subject: Re: [Shotimes] (OT) More UAW workers bankrupt - Detroit news

 

Thank Easy Al for that.  The Fed pushing dollars on the world via
artiifcally low intrest rates will doom the entire worlds economy.  Wait til
Al retires this year.  Sure am glad I own a few ingots of gold.

 

Paul

 

 

On 9/20/2005 12:11:27 PM, Mark Nunnally (marknunnally@joimail.com) wrote:
> It's a pretty common trend these days, not just for UAW workers.  Personal
consumer debt is at an all time high, and personal savings is at an all time
low.  Saw a stat the other day from a gov website, families saved about 8%
of their income back in the early 90's
> (which THAT was down a good bit from the previous decades) and in '04 it
was something like .02%.
> 
> mark
> 
> 
> -----Original Message-----
> From: Ron Porter <ronporter@prodigy.net>
> Sent: Sep 20, 2005 12:51 PM
> To: Shotimes <shotimes@autox.team.net>, V8List SHO <v8sho@v8sho.com>
> Subject: [Shotimes] (OT) More UAW workers bankrupt - Detroit news
> 
> Call me cold-hearted, but my sympathy level is about, oh, ZERO on a 1-10
> scale. Must be nice to drive a hi-lo and make over $100K/year!!
> 
> http://www.detnews.com/2005/autosinsider/0509/18/A01-318432.htm
> 
> Ron Porter
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