Good news for a change (housing)

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http://www.google.com/hostednews/ap/article/ALeqM5g_PHuCxoAxt9hjM_-BeX-V3qcbuA?docId ˜78a40e8a4a4399bba26c7a804cd670
Prices never dropped here but new home sales did drop causing a spike in rents. Looks like those renters are looking for the American dream now. BTW: I just refinanced at 3.875% on a 30 year fixed. Closing on Friday. I'm looking to see if I can get an even lower rate since I haven't closed.
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On May 22, 3:37 pm, gonjah <gonjah.net> wrote:

Who the hell cares about your mortgage and wtf does any of that have to do with home repair?
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wrote:

this topic effects EVERYONE, owners, buyers, and even renters......
since thats the case its on topic here.
and too many non owner occupied homes is bad news for any community. most landlords take very poor care of their homes
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On 5/22/2012 4:46 PM, bob haller wrote:

LOL.
snipped-for-privacy@optonline.net has a stick in his/her butt.
Yeah. I'd say historic low mortgage rates should be OT for just about any homeowner, especially these days. Unless your credit rating is in the toilet.
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On 5/22/2012 6:32 PM, gonjah wrote:

I'd say on topic for a group like this. Housing market is important and resales are still only half the rate they should be. It even effects home repair since construction workers are idle and you can get good work done at low cost.
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wrote:

Are you a landlord? What qualifications give you the right to make such statement?
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LOL.... that was a good one :-)
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I should add that I guess I take it a little personal because I keep hearing stories like this on tv but you never hear the other side of things. I am a landlord and mortgagee and I think I go outa my way to be fair or more than fair. I never had any reporter ask me questions about my situations so I guess they don't want to report the other side of the story(ies). I guess tho I should be less critical because we like to think tv is unbias in reporting their stories but that's just not true. It's all about the ratings (viewership) nothing more.
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wrote:

Glad to hear you enjoyed it. Not sure I would say I enjoyed it unless I had / have good tenants.
All I was saying before is that there are a lot of bad tenants as well as bad landlords but it seems that it's only the landlords that get the bad press. Yes, there are bad landlords, no argument there.
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On Tue, 22 May 2012 19:18:49 -0700 (PDT), " snipped-for-privacy@optonline.net"

Beats me but we seem to have a lot of OT around here. Well I won't defend them but at least they're not spamming the newsgroup so I can live with their OT.
If it bothers you that much, take a break... relax !!!
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too many poorly maintained homes in any neighborhood tend to drop home values for everyone...
espically exterior maintence.
hey our rental home needs new windows, that will cost 5 grand.
instead of that lets go on a cruise?
see what i mean?
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wrote:

If you are really asking me, I see your point. As I said, there are bad landlords but I feel the bad tenants don't get the same press the bad landlords get so people tend to think the landlord is always at fault.
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On Thu, 24 May 2012 05:48:54 -0700 (PDT), " snipped-for-privacy@optonline.net"

Hard to argue with you <grin> !!
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On Tue, 22 May 2012 14:37:47 -0500, gonjah <gonjah.net> wrote:

You can. Pay cash !!
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-- X-No-Archive: Yes On 5/22/2012 10:29 PM, Doug wrote:

;) That would be ideal.
As it is, I'm hoping for about 3.66%
I could have done 3.15% on a 15 year but at these rates I figured just pay extra on the principle and keep the payments low for a rainy day.
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I agree.
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gonjah wrote:

-- X-No-Archive: No

===========Purchase points, also known as a "buy-down" or "discount points," are an up-front fee paid to the lender at closing to buy-down or lower your interest rate over the life of the loan. Each point is equal to one percent of your total loan amount. If you have a $100,000 loan, one point would equal $1,000. The more points you buy, the lower your interest rate, but the more money you'll need at closing.
How do you decide whether you should buy points and if so, how many? Well, the decision should be based on how long you plan on living in your home and what you can afford to pay each month toward your mortgage. If you plan on living in your home for more than five years, it's probably a good idea to purchase points. The longer you live in your home, the more you can save on interest over the life of the loan. ============ We don't have these "points" on mortgages here in Canada.
The rate that a bank advertizes or the rate that gets negotiated with a client is the final rate. We also have the option of making mortgage payments once a week, or 2 per month, or once per month (and having it automatically withdrawn from a savings or checking account). Paying more often results in a lower amortized amount over time. Our mortgages also allow for 1 or 2 balloon payments every year (typically $10k or $20k) without incurring any sort of penalty.
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Move to the states where the govt gives you everything for free or will eventually. Then those in the younger generation will get taxed to death to pay for the free benefits.
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Except that the younger folks, at least the non-OWS sort, are moving to states where they can survive.
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-- X-No-Archive: Yes On 5/23/2012 7:00 AM, Home Guy wrote:

That would be a great option but I noticed banks don't like to do that for obvious reasons. I did wave escrow, at least, so I avoided that ripoff. I was able to do that w/o paying points too. Actually, it was the mismanagement of escrow that started this refi.
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