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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (8173)	8/26/2007 7:07:02 PM
From: Augustus Gloop	Read Replies (1) \| Respond to of 33421

My loan dates back to 1996 (i've refinanced for lower rates since) so 20% down was just a given. You didn't get done if you didn't have 20% in those days. So to answer your question - no - I don't have a top heavy loan. I probably should have extracted money when rates were cheap but I didn't. I did have to take some during my divorce but that wasn't to cover debt - it was so my ex could by a new broom to fly LOL (kidding). Like I said in an earlier post - I don't want to bail out banks and people for making bad choices BUT it may be in our best interests. I don't know how ugly this is going to get but I'm not willing to live through a nasty downturn just to punish people. I think you could look at my position on the issue as totally selfish and self serving. I don't want to live through hell just to make a point. All this is conjecture at this point - we (all of us) really have no idea if things will get that bad. I suspect the Fed will checkout the landscape and make the call regardless of what you and I think. There have only been a couple times when the Fed has contacted me to get my approval lol