Comments for Finance my Money http://financemymoney.com Sat, 12 Dec 2009 20:44:53 +0000 hourly 1 http://wordpress.org/?v=3.0 Comment on California Housing Inventory Mystery: 206,000 Homes on MLS but is the Real Inventory 412,000 or closer to 618,000? by robert http://financemymoney.com/california-housing-inventory-shadow-foreclosures-mls/comment-page-1/#comment-273 robert Sat, 12 Dec 2009 20:44:53 +0000 http://financemymoney.com/?p=146#comment-273 go to realtytrac and get a trial account and see it for yourself. REO homes for each area are in thousands while the REO homes listed are in single digits. go to realtytrac and get a trial account and see it for yourself. REO homes for each area are in thousands while the REO homes listed are in single digits.

]]> Comment on The Option ARM Kingpins: Who Holds the Elusive Option ARMs? $189 Billion Securitized and Outstanding and big Three of Wells Fargo, JP Morgan, and Bank of America Playing with Time. by Jerome Brick http://financemymoney.com/the-option-arm-kingpins-who-holds-the-elusive-option-arms-189-billion-securitized-and-outstanding-and-big-three-of-wells-fargo-jp-morgan-and-bank-of-america-playing-with-time/comment-page-1/#comment-259 Jerome Brick Tue, 08 Dec 2009 23:40:59 +0000 http://financemymoney.com/?p=200#comment-259 In preparation for the tsunami described above, I believe the Fed is artifically subsidizing the current earnings of the TBTF banks by allowing them to borrow at virtually zero percent and re-invest these borrowed funds at a very profitable and risk-free spread. In this manner the banks will be able to generate earnings for future losses arising from optin arms in the coming years. In other words the TBTF banks will be able to earn their way out of this mess. In preparation for the tsunami described above, I believe the Fed is artifically subsidizing the current earnings of the TBTF banks by allowing them to borrow at virtually zero percent and re-invest these borrowed funds at a very profitable and risk-free spread. In this manner the banks will be able to generate earnings for future losses arising from optin arms in the coming years. In other words the TBTF banks will be able to earn their way out of this mess.

]]> Comment on The Option ARM Kingpins: Who Holds the Elusive Option ARMs? $189 Billion Securitized and Outstanding and big Three of Wells Fargo, JP Morgan, and Bank of America Playing with Time. by Tom http://financemymoney.com/the-option-arm-kingpins-who-holds-the-elusive-option-arms-189-billion-securitized-and-outstanding-and-big-three-of-wells-fargo-jp-morgan-and-bank-of-america-playing-with-time/comment-page-1/#comment-257 Tom Tue, 08 Dec 2009 21:12:45 +0000 http://financemymoney.com/?p=200#comment-257 Good synopsis. I live in California (northern) and this area had a HUGE amount of these loan products offered. I remember reading about them as early as 2000; long before the notion of a large scale housing bubble was being mentioned in the news. This will be an absolute disaster for my area. So many individuals that brutally over-extended themselves and are now looking at large scale resets. Regardless of the supposed high salaries that people in my area are supposed to command, those salaries do not even come remotely close to covering the insane housing costs. That is why so many gravitated towards these new loan type. in the hopes of getting onto the housing bandwagon. As the next couple of years unfold, this will completely tank California. A state which isn't exactly in good condition from a fiscal standpoint. Good synopsis.

I live in California (northern) and this area had a HUGE amount of these loan products offered. I remember reading about them as early as 2000; long before the notion of a large scale housing bubble was being mentioned in the news.

This will be an absolute disaster for my area. So many individuals that brutally over-extended themselves and are now looking at large scale resets. Regardless of the supposed high salaries that people in my area are supposed to command, those salaries do not even come remotely close to covering the insane housing costs. That is why so many gravitated towards these new loan type. in the hopes of getting onto the housing bandwagon. As the next couple of years unfold, this will completely tank California. A state which isn’t exactly in good condition from a fiscal standpoint.

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