Comments for Mind Your Own Mortgage

Comment on The Government is Killing Housing by Anonymous

Anonymous — Thu, 12 May 2011 18:31:58 +0000

I agree, it is apparent that the lawyers running our country have no clue on how to manage the economy
And the country. But the scariest part is that they think they know what is right.
There are too many people and it’s out of control

Comment on Printing Money Won’t Cure the Recession by admin

admin — Fri, 11 Mar 2011 15:31:09 +0000

Thanks for the comment. Jefferson wrote the following in a latter to John Taylor dated May 28, 1816: “And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
Apparently, this quote has been expanded to include the language I posted – I’m not sure, but it seems you may be correct. The point, however, isn’t lost on Jefferson’s quote from the letter cited above. Although not directly indicated, the concept of inflation is clearly indicated in his thoughts concerning the banking system.
In this post, I addressed the then current spending efforts – which included printing money to fund the purchase of mortgages by the Fed. And I agree concerning the unfunded liabilities – whose funding in the absence of austerity requires stealing from the very population who have been mislead to believe in the very benefits provided.

Comment on Printing Money Won’t Cure the Recession by Mac

Mac — Thu, 10 Mar 2011 18:46:17 +0000

The alleged Jefferson quote, while reflecting some of his sentiments, is not authentic. It is not found in any of his writings, nor in the writings of his contemporaries. The terms “inflation” and “deflation” had not come into use in reference to economics. “Inflation” is documented first in 1838, 12 years after Jefferson’s death. “Deflation” first appears in 1920.

200?? trillion? That’s more like the unfunded liabilities for the next few decades – promises of future goodies stolen from your neighbors and given to you. Reality is that it’ll be stolen from everyone who pays taxes and doled out to those who live long enough to get some of it.
Welfare and social security appeal to the larceny in degenerate mankind’s black little greedy hearts.

Comment on The Social Security Scam – Part 1 by Ryan

Ryan — Tue, 19 Oct 2010 19:25:55 +0000

Where is Al Gore’s lock box when you need it? Haha, what a joke.

Comment on Printing Money Won’t Cure the Recession by Scott Carnahan

Scott Carnahan — Wed, 29 Sep 2010 18:07:45 +0000

Your $200 trillion should be more like $3 trillion. That’s what the FED admitted was on their balance sheet (they never have made it public) plus bonds purchased from Bear and others during 2008 plus the other treasuries they bought before.

I think another idea is why don’t we propose the Federal government issue an annual financial statement. This would show negative capital because of all the entitlement net present value obligations. Let the CBO audit it to keep the cost down rather than a private firm. This negative equity would be huge, although not as huge as it would be when FASB/GASB fixes the accounting so the liability isn’t so understated (off balance sheet, isn’t it funny how this hiding of liabilities isn’t discussed).

Also, if the FED wishes to maintain the illusion of independence (which is why they don’t want to publish their own financial statements and show the huge equity they create by printing money) then they shouldn’t be allowed to buy Federal debt in large chunks. Small ones to feed or drain liquidity is fine. Buying large chunks just allows the Federal government to raise cash without immediate pain. No pain and it will get out of control eventually.

Scott

Comment on The Illusionary Economy by admin

admin — Fri, 24 Sep 2010 04:55:25 +0000

If the second is an adjustable rate, it’s a win for sure. Why? Because you are sure to see your second skyrocket when rates increase. There is no adjustable mortgage that makes sense in this environment – period. The downside (upside to rates) present much to much rick to the average homeowner.

Comment on The Mortgage Salesperson and the Silent Thief by admin

admin — Fri, 24 Sep 2010 04:53:32 +0000

Hi there – take a look at the refinance decision engine on the website. It’s free to be a member….you can model your exact scenario and see what transpires. It makes sense to pay down faster, but the real issue here is how much benefit you will garner on the refinance. There are additional variables at work.

Comment on The Mortgage Salesperson and the Silent Thief by Lats

Lats — Tue, 14 Sep 2010 20:01:02 +0000

Does it make sense to pay for the additional percentage point from savings and not roll it into the mortgage? If you plan to stay in your house long term and it takes 5 years to recover the additional cost, at least you will start saving money after 5 years, which can add up to a couple of thousand saving for the life of the loan.

Comment on The Illusionary Economy by mj

mj — Fri, 03 Sep 2010 14:53:16 +0000

wow, doesn’t get much more real than that ! guilty

Comment on The Illusionary Economy by Denise

Denise — Thu, 02 Sep 2010 19:02:26 +0000

What about refinancing with the 2nd mortgage rolled in…how can we figure out if that is a good deal?