Comments on: “[Subprime] defaults are spiking well before resets come into play”

By: D

Thu, 21 Feb 2008 02:27:08 +0000

I agree, PGC, but if a plan is to use a HELOC to hold off foreclosure & the monies aren’t available = out of luck. That was my only point about HELOCs & changes to availability that may be/are only beginning to occur.

By: PGC

PGC — Thu, 21 Feb 2008 02:22:52 +0000

#226 D
I understand that Countrywide want to shut off the spigot. IF the house goes to forecloseure, the mortgage will get paid off and any excess monies (after expenses) will get returned to you. Not to appear cold I would rather us the equity to try and stave off forclosure vs it going to pay REO Lawyers etc.
I think that using your house as an ATM for a new car or vacation is stupid. Using the equity in your house to stave off foreclosure and to survive, makes sense.

By: mikeinwaiting

mikeinwaiting — Thu, 21 Feb 2008 02:03:46 +0000

217 outofstater You need salt it will be worth its weight in gold.No need to buy gold if it really goes to sh*t all you need is salt.How do you preserve food with no electric salt.As I live where there is plenty of game,salt will get me things in barter system.50lb bags very cheap now!

By: D

Thu, 21 Feb 2008 01:59:03 +0000

Here’s the link where I read that about Countrywide… sorry, Grim… it was another blog I stumbled on! http://tinyurl.com/2o9qvv

By: PGC

PGC — Thu, 21 Feb 2008 01:52:37 +0000

Interesting article on NPR this morning. They were talking about the growth of the North Carlolina economy. They were discussing all the growth of small business around the army bases. As the army close places like Fort Dix, they are consolidating resources into the bases in the Carolinas. Small subcontractors are spring up in a 50 mile radius of any base.

Could this explain a few of the Penske Express.

By: D

Thu, 21 Feb 2008 01:45:02 +0000

PGC #107- a warning about having a HELOC in place as an emergency fund. I read on another forum (msn money?) in the last few days that Countrywide was sending letters notifying customers that they are freezing HELOCs due to housing prices dropping. It didn’t seem to matter how much equity was in the house either. I’ll attempt to find the link to the story, but it wasn’t an official story, just a personal experience that was shared by several posters. Of course, we all know what kind of shape Countrywide is in…

By: PGC

PGC — Thu, 21 Feb 2008 01:36:14 +0000

grim
#224 in moderation.

By: PGC

PGC — Thu, 21 Feb 2008 01:34:18 +0000

In all seriousness. Here is one of my best resources. The articles are priceless.

http://www.backwoodshome.com/article_index.html

One of my long term goals is to set up a food pantry based on this article. http://www.backwoodshome.com/articles/hagan59.html

The people can have a copy of the article and a starter kit of all the items on the list. throw in a few recipes and it can keep food on the table. There is no Kool-Aid on the list, they prefer Tang … :*)

About two years ago I was talking to a friend who lives in a nice town in Bergan County. We were talking about the Thanksgiving food drive at the local church. He said they had a good donation drive with 18 turkeys. They had a problem in that they did not have any local families that needed donations. The drove everything over to a church in Patterson for distribution. This year I asked how it went. They send half to Patterson and half went local.

By: 3b

3b — Thu, 21 Feb 2008 01:29:36 +0000

#210 BC Either way real estate prices fall.

By: njpatient

njpatient — Thu, 21 Feb 2008 01:08:15 +0000

have we heard from chifi recently?

By: njpatient

njpatient — Thu, 21 Feb 2008 01:07:51 +0000

“Yes. What’s your point?”

That it needn’t be a subsequent round to be a bidding war. Otherwise we agree.

By: Clotpoll

Clotpoll — Thu, 21 Feb 2008 01:01:23 +0000

patient (209)-

Yes. What’s your point?

A disciplined buyer- with a plan- should be able to make the offer he finds comfortable, regardless of who else is offering or the quality of those other offers. If the bidding hits a level of discomfort, the disciplined buyer drops out.

Of course, if a buyer drops out at the first hint of multiple offers, what’s the difference? Either scenario, the buyer loses.

By: Outofstater

Outofstater — Thu, 21 Feb 2008 00:56:40 +0000

#218 Right!! TP!! And an entrenching tool to go along with it. A generator is nice but have some candles and a few kerosene lamps too. If it gets really cold, you can set your tent up in the living room and you’ll stay nice and warm with no additional heat.

By: lisoosh

lisoosh — Thu, 21 Feb 2008 00:50:50 +0000

217- don’t forget the generator!!!

And the toilet paper (I’m spoiled, sorry. Don’t like leaves, newsprint is scratchy).

By: Outofstater

Outofstater — Thu, 21 Feb 2008 00:42:33 +0000

#201 Dried foods are better than canned – the canned stuff expires too quickly. Go with rice, beans, lentils, powdered drinks, dried fruit. Add some antibiotics, heavy duty painkillers, chocolate, some decent scotch or bourbon, coffee, ammo and a couple of nice weapons and you’ve got yourself a stash. (RPG’s optional)