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EugeneJ posted:In the US, credit card reforms recently required every card company to provide a plain-text summary of how much money you'd pay overall in time with the provided interest rate. Lenders should be able to do the same thing with mortgages. When I signed a mortgage (that I shouldn't have), there was a line showing total finance charge. I still don't think it's accurate though to say you paid (purchase price plus finance charge) because you may possibly be making extra payments. Nail Rat fucked around with this message at 18:18 on Feb 3, 2016 |
# ? Feb 3, 2016 18:05 |
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# ? Jun 5, 2024 20:10 |
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Also thinking that a summation of 30 years of payments is a useful number is pretty BWM
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# ? Feb 3, 2016 19:30 |
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My parents bought a house in the early 80s before the crash, and they felt like chumps paying $500/mo for their traditional 20% down mortgage when their neighbors were paying $250/mo ARMs with a 5 year balloon payment. They stopped feeling like chumps when all the neighbors lost their houses in exactly 5 years
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# ? Feb 3, 2016 19:56 |
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Not a Children posted:Huh, I thought most of it got pissed away on her horses, but it's nice to hear that the bulk of the money went back to the city. Yea, she was actually really good at breeding the horses, so they sold well at auction. They got about $10m back from auctions, and then another $40m in a settlement where the city sued its auditors/bank (although lawyers got 10m of that). So they definitely got ripped off but it could have easily been much much worse.
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# ? Feb 3, 2016 20:18 |
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canyoneer posted:My parents bought a house in the early 80s before the crash, and they felt like chumps paying $500/mo for their traditional 20% down mortgage when their neighbors were paying $250/mo ARMs with a 5 year balloon payment. Balloon payments seem to do nothing for financial stability as anyone who has a balloon payment doesn't seem to understand how it works.
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# ? Feb 3, 2016 20:47 |
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Devian666 posted:Balloon payments seem to do nothing for financial stability as anyone who has a balloon payment doesn't seem to understand how it works. In non-financial crisis situations, do most people who aren't paying off the balance just expect to refinance?
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# ? Feb 3, 2016 21:14 |
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OneWhoKnows posted:In non-financial crisis situations, do most people who aren't paying off the balance just expect to refinance? I would imagine, just like all those Interest Only loans that were issued. You just pay the interest for a while, and then when you build equity solely through the property appreciating, you either refinance or sell the house. (It's stupid, but it sounds like a great idea when everyone you trust to advise you through this tells you things like "home prices never go down.")
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# ? Feb 3, 2016 22:14 |
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OneWhoKnows posted:In non-financial crisis situations, do most people who aren't paying off the balance just expect to refinance? That is what financially literate person would do if they wanted to keep the house. Imagine getting a mortgage and then clocking up a lot of other debts to the point where you can't refinance your house at the end of 5 years. I guess owning 5 broken down trucks and a lame horse is better than owning a house.
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# ? Feb 3, 2016 22:28 |
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CellBlock posted:I would imagine, just like all those Interest Only loans that were issued. You just pay the interest for a while, and then when you build equity solely through the property appreciating, you either refinance or sell the house. (It's stupid, but it sounds like a great idea when everyone you trust to advise you through this tells you things like "home prices never go down.") There was a home buying show on TLC in 2005 or 2006 where the host was trying to get this earnest single mother into the home of her dreams. They didn't just get her an ARM, I'm pretty sure it was an Option-ARM because it had a teaser rate. The whole plan was for her to earn more money by the time rates increased. I wish I could find that show. It rivaled that nasty wife/realtor commercial in terribleness.
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# ? Feb 3, 2016 22:54 |
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Series DD Funding posted:Also thinking that a summation of 30 years of payments is a useful number is pretty BWM Lol yeah $53.7 million isn't a useful number because its the sum of a bunch of payments over 20+ years.. LA Times reported in November that her estate had brought in about $10 million from auctioning her stuff (including $775k for a horse) and $30 million in a lawsuit with their auditors. She was ordered to pay $107 million, which is obviously never gonna happen, but for the town to recover 75% of the losses is impressive.
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# ? Feb 4, 2016 00:32 |
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I think it's kinda odd that the town didn't get the full losses + damages from the auditors. Isn't having auditors supposed to be your failsafe against poo poo like this?
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# ? Feb 4, 2016 03:34 |
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Not a Children posted:I think it's kinda odd that the town didn't get the full losses + damages from the auditors. Isn't having auditors supposed to be your failsafe against poo poo like this? They probably maxed out their insurance. I mean, you expect to pay out some claims but not $50 million. Odds are the city got the maximum amount possible and it still wasn't enough.
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# ? Feb 4, 2016 04:17 |
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An auditor isn't a guarantor. If they did not exercise appropriate diligence, or made claims without supporting evidence, you could sue them for professional negligence, but unlikely to get full damages. After all, they didn't perpetrate the fraud, they merely failed to uncover it. Most audits also explicitly disclaim the risk of management mischief, because management can alter any of the things that the auditors would be using as ground truth. Few auditors, even for things like a company going public or a large acquisition, have "forensic" access to a company's books. Nor is it a normal practice for them to independently verify things like capital investments by looking at the equipment that was bought. They might pull D&B numbers for vendors and look for obvious cronyism, but even that would be unusual for a small town, and expensive. And the person who is deciding what sort of audit to pay for is...the person committing the fraud, in this case.
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# ? Feb 4, 2016 04:38 |
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Whatever happened to SloMo? Did he suck-start a .45?
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# ? Feb 4, 2016 06:24 |
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movax posted:Whatever happened to SloMo? Did he suck-start a .45? Got lovely and we stopped caring.
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# ? Feb 4, 2016 07:16 |
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quote:I am wanti,g $ to get that tattoo off my for head I want to have a better start out in life and have a second chance at life please help me I was young n dumb when I got that I'm older one looking for a job can't get out and people call me a druggie every day of my life and being called 420 is not nice and I almost killed my self over it. ..can't stand to look at my face anymore. .save a life save me..invest in me and I will show you I can be better with my life. ..thank you Lady crowd funding the removal of the 420 tattoo on her forehead. quote:and by the way I will not be goin on the show the doctors because of my i.d isses so I will not being getting any free tattoo removal from anyone
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# ? Feb 4, 2016 11:53 |
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I wonder what her "i.d isses" are, considering that she's already as publicly exposed as she's going to get. Then again, any thought and consideration of the consequences were clearly de trop in this scenario to begin with.
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# ? Feb 4, 2016 13:27 |
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Sic Semper Goon posted:I wonder what her "i.d isses" are, considering that she's already as publicly exposed as she's going to get. I'm guessing it's "Intellectual Disability", at least based off one person in the comments who claims to be her brother is saying. And the spelling.
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# ? Feb 4, 2016 13:41 |
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Florida Betty posted:I'm guessing it's "Intellectual Disability", at least based off one person in the comments who claims to be her brother is saying. And the spelling. Yeah it's actually kind of sad.
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# ? Feb 4, 2016 16:07 |
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Yeah of all the things to crowd fund I don't think a tattoo removal is even close to the worst. I'd rather give someone money for that than their vacation or money to buy a house to flip.
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# ? Feb 4, 2016 17:21 |
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Yeah if someone wanted to sell me, uhh, equity in their career, and they were going to use the sale money to remove that tattoo, I'd say it was a good investment.
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# ? Feb 4, 2016 17:27 |
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NancyPants posted:Yeah of all the things to crowd fund I don't think a tattoo removal is even close to the worst. I'd rather give someone money for that than their vacation or money to buy a house to flip. She's not removing the tattoo. She is just asking for money because her life is miserable or something.
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# ? Feb 4, 2016 18:01 |
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Nitrox posted:She's not removing the tattoo. She is just asking for money because her life is miserable or something. Ooh yeah well gently caress that then.
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# ? Feb 4, 2016 18:11 |
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Nitrox posted:She's not removing the tattoo. She is just asking for money because her life is miserable or something.
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# ? Feb 4, 2016 18:17 |
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Salty rear end people on that page mad that their individual crisis handout pleas aren't being addressed and instead are passed over for some lady's tattoo removal. They think GoFundMe is for horrible accidents or illnesses. No, that's what a functional health care system is for you loving morons. These are the people who think we should handle cancer with spaghetti dinner nights at the local VFW.
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# ? Feb 4, 2016 18:26 |
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Blinkman987 posted:Salty rear end people on that page mad that their individual crisis handout pleas aren't being addressed and instead are passed over for some lady's tattoo removal. I thought that was exactly what GoFundMe was for if you live in third world countries like the US.
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# ? Feb 4, 2016 18:41 |
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Jeffrey of YOSPOS posted:I don't read that on the site, pretty bizarre if it's true. quote:UPDATE #4 7 DAYS AGO quote:Caitlin Augusta 400400 14 days ago Nitrox fucked around with this message at 19:30 on Feb 4, 2016 |
# ? Feb 4, 2016 19:07 |
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Nitrox posted:She's not removing the tattoo. She is just asking for money because her life is miserable or something. I think her last update is her saying that she will not be going on a medical show that would be doing the tattoo removal for free and pocketing the money. Fake edit: From the recent donations Juanita Wanda Halden posted:$5
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# ? Feb 4, 2016 19:13 |
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from a VW TDI forum, same idiot posted this in a couple of threads:quote:I've only owned my 2014 Beetle TDI premium for 8 months but the VW emissions drama and worrying about how much money I was going to loose along with reading 2014 Jetta TDI is now only getting $8k at auction motivated quote:A friend of mine has a Manheim account. 2014/2015 Jetta TDI and Jetta TDI wagons are now averaging $8k at auction. When I saw that I traded in my 2014 TDI Beetle Premium before it's value hit rock bottom. I got $14k.. for a car that should have had $24k. The car only had 8k miles and I bought it 5/18/2014. VW really screwed us. I didn't want to take a chance on losing any more. I had to tap my 401k saving to put enough money down on a 2016 Jeep Wrangler Sport S. My car had a Fender Stereo so I had to get at least the 567w Alpine stereo. Hopefully I can recoup $10k from the class action law suit. Yup, the only solution was to buy a new car, and tap your 401k to do it
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# ? Feb 4, 2016 19:47 |
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BraveUlysses posted:from a VW TDI forum, same idiot posted this in a couple of threads: No, but you see, they had to.
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# ? Feb 4, 2016 20:42 |
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No, they had to get the upgraded stereo system.
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# ? Feb 4, 2016 21:00 |
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quote:It was great driving through the White Mountains in New Hampshire lots of torque. All of the roads go through the notches and are very flat. The only road with any elevation gain is the Mt Washington auto road... which has a speed limit of a snail's pace.
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# ? Feb 4, 2016 21:57 |
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haha what the hell its an unrealized loss until you sell the car
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# ? Feb 4, 2016 22:44 |
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Dude was just looking for a reason to get the jeep.
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# ? Feb 4, 2016 23:48 |
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Guy on local political discussion show: "My wife has horses. That's why I'm not retired."
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# ? Feb 5, 2016 03:33 |
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Divorcing couple divides beanie baby collection under judge supervision, 1999
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# ? Feb 5, 2016 04:22 |
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Switchback posted:
I can't decide whether to be more embarrassed for the woman who wore a suit to divide a pile of beanie babies on the floor, or the man who showed up to court in a polo shirt and white new balance dad sneakers
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# ? Feb 5, 2016 04:29 |
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Oh also here's a fun local news story:quote:A bizarre lawsuit stemming from a University of Illinois physician's desire to acquire his neighbors' driveway continues to consume the time and resources of the courts. Even better than the credit union somehow landing itself in a $30,000 adverse judgment is the $150K earner in this extremely affordable community claiming that "he has no extra funds" and is essentially living paycheck to paycheck.
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# ? Feb 5, 2016 04:34 |
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pig slut lisa posted:Even better than the credit union somehow landing itself in a $30,000 adverse judgment is the $150K earner in this extremely affordable community claiming that "he has no extra funds" and is essentially living paycheck to paycheck. He has so many cars he can't fit them all on his driveway, that has to add up.
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# ? Feb 5, 2016 04:36 |
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# ? Jun 5, 2024 20:10 |
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pig slut lisa posted:Oh also here's a fun local news story: It might surprise you to know that people appealing large judgments against them routinely claim that they have no extra funds and depend upon the income that the other party is trying to garnish
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# ? Feb 5, 2016 06:58 |