You know what, this Bama Dude is turning out to be Hotter than Hot.
He said CHANGE is gonna COME, well, it not even Jan 20 yet, and CHANGE has DONE ALREADY COME.
It used to be you had to work hard and compete wif each other to get ahead. It was HARD, and people was HURTIN'. They was begging for CHANGE.
Now, we got H4H, like H2O, the water of life, you got Hope for Homeowners where you get a 4.5% interest loan , I guess it Interest Only, not positive about that but it's the hot new thing now IO loan , used to be I/O was Input/Output, that's when we had a capitalist society.
Now we got a NEW NEW DEAL, where IO means I Owe Interest Only on my H4H loan.
Now the detail is you take your Income , multiply by 31%, and thats what you pay maximum payment per year, ie, the gubment takes 31% of you income as house payment.
Now you asked about points, closing costs, and doc. This is THE OLD WAY OF THINKING back in the OLD DAYS.
Dude, get a clue, get HIP, turn on to the NEW WAYS. Point, closing cost and doc was FEEs that the Banks, remember when we use to have banks?, these was what the Bank used to hit you with to get PROFIT for the BANK.
We don't do profits no more.
Now H4H is gubment program, basically you have to stand in line to talk to a gubment officer like you do down at the EMployment Office, where they pay you to not work.
You tell them your Income, then they tell you how much is going to be deducted to pay the 4.5% Interest on the HOPE NOW Bonds the Chinese are going to Own.
They also going to tell you what your house is worth.
Heres an easy way to figure it out:
Take your Income ( I ) , OK. , now multiply by 31%, thats your yearly H4H IO house deduction from your Income, THEN DIVIDE by 4.5%, the result is your HOME's VALUE.
For example, if you make $50K ( I know you make much more than that I just using an example), then yo monthly payment is $1,292 and yo home is worth $344,444.
If you make $500K like I know you do, then yo get $12,920 per mo. and yo have a small abode in Blue County worth $3,444,444..
Isn't gubment wonderful?
PS I forget to tell you that you in the 5% and yo marginal rate goes from 36% to 39.2%, I HOPE that's OK.
Now for those folks that on Soc. Sec and gets like $1K/mo income, why then yo monthly payment is $310 and your trailer is worth $82,666. That's about what they paid for the Katrina Trailers. That's what Sarah and her 12 kids live in.
I am not even going to get into the CHANGE THAT IS COMING to the Auto Industry, but you can assume we going to have fixed price made in America wind powered little vehicles and such. |
