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Suddenly, it's not so easy to borrow...

 
 
Miller
 
Reply Sun 5 Aug, 2007 03:47 am
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Type: Discussion • Score: 1 • Views: 903 • Replies: 7
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dadpad
 
  1  
Reply Sun 5 Aug, 2007 07:34 am
Neither a borrower nor a lender be.
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Letty
 
  1  
Reply Sun 5 Aug, 2007 08:14 am
Miller, that's a good thing, right? Now maybe the housing market will improve and the stock market stabilize.

dadpad, we know what Tennessee Williams would say to Shakespeare's observation.
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dadpad
 
  1  
Reply Sun 5 Aug, 2007 08:17 am
Letty what would Tennessee Williams say?
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Letty
 
  1  
Reply Sun 5 Aug, 2007 08:25 am
Well, dadpad, the story goes that two little old ladies were sitting on a park bench and a bum came up and asked them for a hand out. One of the prim little women quoted that line from Shakespeare, and the bum quoted Tennessee Williams.(you can probably guess what two words the bum used. Seven letters in all. Razz )
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Slappy Doo Hoo
 
  1  
Reply Sun 5 Aug, 2007 09:10 am
Tell me about it. I bought both my properties with zero down, now the only 100% financing investment mortgage available sucks donkey balls. Something like 11-12% with a three year pre-payment penalty. I need to start saving more $$ or figure out "creative" financing to buy something else. I was lucky with my new place, if I waited another few months I probably wouldn't have been able to buy it...a lot of mortgage lenders shut their doors.
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Miller
 
  1  
Reply Sun 5 Aug, 2007 04:39 pm
I'll bet the interest rates go even higher and by the way, the number of foreclosures is getting higher by the minute.

A lot of people are losing their homes and their shirts.
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Miller
 
  1  
Reply Sun 5 Aug, 2007 04:42 pm
Letty wrote:
Miller, that's a good thing, right? Now maybe the housing market will improve and the stock market stabilize.


I personally think, we're in for some more rocky times. If the number of homes on the market increases, eventually construction will slow down and when that happens, more workers will be working less.

The whole thing will start to trickle down...
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