Random Thoughts Thread

Discussion in 'The Club House' started by Dillinger, Mar 6, 2009.

  1. Cinderocka1989

    Cinderocka1989 Well-Known Member Supporter

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    I want a house with built in bookcases.

    I was considering buying a house next year but I just don't think it's gonna happen.
     
    winds-of-change likes this.
  2. c3shooter

    c3shooter Administrator Staff Member Admin Moderator Lifetime Supporter

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    Cinder- IF you can swing it, and IF you find an area and house you like, this may be the best time ever to buy. I am officially an old poop- you can ask my great grandkids- and this is the lowest I have EVER seen mortgage rates.
     

  3. boatme98

    boatme98 Well-Known Member

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    What he said!^^^^^^^^^
     
  4. Mister Dave

    Mister Dave Well-Known Member

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    Thinkin' about another refinance at these rates. I think my parents paid more in 1964.
     
    winds-of-change and boatme98 like this.
  5. SRK97

    SRK97 Well-Known Member Supporter

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    I can eat 4 squirrels in a sitting.
     
  6. c3shooter

    c3shooter Administrator Staff Member Admin Moderator Lifetime Supporter

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  7. c3shooter

    c3shooter Administrator Staff Member Admin Moderator Lifetime Supporter

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    Cinder- With a good credit rating, there are some mortgages right now that are down around 2.25%. A 30 Year Fixed rate mortgage of 250K with an interest rate of 2.250% would be 360 payments of about $956 a month, plus taxes and insurance.

    After bouncing around with the military for years we bought our first house in 1982. The going interest rate was around 18%. We found a desperate contractor that had built a house, and could not sell it. We got the interest rate down to 12%, and felt damn proud of that.
     
  8. Cinderocka1989

    Cinderocka1989 Well-Known Member Supporter

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    My credit score isn't bag but it also isn't stellar, property taxes here are high as well and I don't currently have any money for a down payment. I was really hoping to work all that out by next year but this year has been so insane I just haven't managed it.
     
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  9. Rifling82

    Rifling82 Well-Known Member Supporter

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    I would go to the bank and see what you can work out... just my advice, your house payment will be cheaper than your rent
     
  10. c3shooter

    c3shooter Administrator Staff Member Admin Moderator Lifetime Supporter

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    Well, every now and then, I get up from the non-stop poker game in the Admin Lounge, and go do some Admin duties. When someone signs up for membership, they go into a holding area for us to look them over, so that we can send the trout into the forum, and send the carp back to feeding on the bottom of the river. So far today (and we still have about 4 hours left) we were able to cull out TWENTY SEVEN Scammers, Spammers, Mugs, Thugs and Bushwhackers that sought to join your august selves here on FTF, and tossed them out on their ears. A surprising number are Russian, with a scattering of Malaysians, Indians and assorted former Warsaw pact nations.

    *dusts hands off, wipes down Bannhammer, wanders back to the game. See if I can figure out how Winds keeps playing a full house.*

    EDIT- said the day won't over. 2255 hrs, booted 4 more of the poltroons. 31 for the day. Better check if there is a bag limit on them.....
     
    Last edited: Oct 29, 2020
  11. Oldoutlaw

    Oldoutlaw Well-Known Member Supporter

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    If Biden wins, it will be higher interest rates than you can even imagine.
     
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  12. Cinderocka1989

    Cinderocka1989 Well-Known Member Supporter

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    I've looked, I've talked to people, even for a $100,000 house it would still be more than my rent but that's fine as long as it isn't much more. I'm still working out the numbers, it isn't completely out of the question yet.
     
    Rifling82 likes this.
  13. Rifling82

    Rifling82 Well-Known Member Supporter

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    Just a little advice.... if at all possible I would buy;)
     
  14. Missouribound

    Missouribound Well-Known Member

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    I have refinanced a couple of times in my life.
    An old rule of thumb which still may apply was if you can go down at least 1 percentage point then it is worth it. And it seems like you can get those reductions just about anywhere right now.
     
    Rifling82 likes this.
  15. Missouribound

    Missouribound Well-Known Member

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    If Biden wins:
    The country loses.
    From taxes to guns to fossil fuel.....everything will be in jeopardy.
    He has planed to raise taxes for all businesses, then raise the minimum wage. That will create the highest unemployment in history. There will be a fast migration of business back out of the country for those that can afford it. Those that can't will simple close up shop.
    He will further the entitlement, welfare state plans that Obama embraced.
    Sal Alinky's vision for a socialist society will come to fruition.
     
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  16. Mister Dave

    Mister Dave Well-Known Member

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    Cash flow matters, yes. But the way I pissed away my net worth renting is something that still makes me angry with myself.

    So it's much more than cash flow. Rent your home - lease your car - max out your credit cards - live the disposable life and die poor in the state-run old folks home.

    P.S. If you have credit card debt pay that off now or you won't get the good interest rate at the bank. Your credit score matters, and so does your current debt.
     
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  17. Oldoutlaw

    Oldoutlaw Well-Known Member Supporter

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    ^^^^^^^^^^^^^^^^^^^^^^
    What Dave just told you! He is 100% correct!
     
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  18. Mister Dave

    Mister Dave Well-Known Member

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    Pay attention to how your choices affect your net worth. An average working stiff can easily retire a millionaire.

    It's never too late to start, but the sooner the better.

    Real estate (a home that is) isn't the greatest investment right now, but you'll at least reverse the equity dump you have by renting.

    Besides, the stock market is pretty crazy right now. A good fixer-upper with a solid foundation could be a better plan. You might even get in the habit of flipping homes while you live in each one. Some people make a living at it.
     
  19. winds-of-change

    winds-of-change The Balota's Staff Member Admin Moderator Lifetime Supporter

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    I’ve had them. They really aren’t all that great. I prefer fully loaded tots. (Good thing I proof read because I accidentally typed ‘t*ts’ instead of tots.
    We can’t burn here but we could burn leaves back in Illinois. I loved burning leaves.
    Truth.
    DAMN!!!!!

    It will happen when you can.

    Explain to me why I lost some credit score points when we became debt free. I’m still in the low 800’s but it dipped a bit when we paid everything off. :mad:
     
  20. Missouribound

    Missouribound Well-Known Member

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    When you aren't paying off bills the asinine rating system takes it as if you aren't spending.
    If you don't spend and don't pay it off then your credit goes down.
    It is ridiculously goofy. When I had 2 car payment, a house payment and a Kubota tractor payment my credit was about 815.
    When I paid off one car and the house it dropped to 775.
    Go figure.