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03-23-2012, 05:02 PM
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Senior Member
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Join Date: Jun 2011
Posts: 1,252
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Quote:
Originally Posted by merrylander
What gets me is here we have this mortgage system that was designed by thieves for thievs, yet nobody seems to want to change it.
How many of you ever re-negotiated to get a better interest rate/ Each time you do you must buy more Title Insurance at $400 a pop. Are you aware that the commission rate is 80%, so the title company takes $320 right off the top.
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I am refinancing right now, It helps a lot when your wife represent abstract and title companies.
Another thing I am sure most folks are not aware of is that Wal-Mart through Arvest is buying up title and abstract companies all over this country. The other thing is banks are keeping everything in house. This would have been illegal in 1998. I don't even know why we bother calling them banks anymore.
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03-23-2012, 06:32 PM
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Senior Member
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Join Date: May 2009
Posts: 10,348
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Quote:
Originally Posted by bobabode
Thanks Pete, Bob. ps Once my shoulder is better it's back to the grind. I've always underpriced the competition so never have really lacked for work. Some might say I lacked business acumen but they're renters once again. Miserly, hah. I've got so much kraut flowin' thru my veins that I hoard copper pennies. Lack of vision, I guess. Maybe nickles are where I should concentrate my holdings.
Yeah, equity ain't worth the sand it's built on, although it was strange how many Jags and Mercedes we're showing up in the middle class neighborhoods round these parts. I'm of the mind to drive anything I own until it's a wheezing dented up wreck before trading up to someones castoff.
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You'll never go wrong by being frugal. Just being out of debt is the greatest stress reliever I've ever taken.
Chas
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03-24-2012, 07:43 AM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Quote:
Originally Posted by wgrr
I am refinancing right now, It helps a lot when your wife represent abstract and title companies.
Another thing I am sure most folks are not aware of is that Wal-Mart through Arvest is buying up title and abstract companies all over this country. The other thing is banks are keeping everything in house. This would have been illegal in 1998. I don't even know why we bother calling them banks anymore.
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Bought two houses in Canada, never heard of or ever saw a title company, AFAIK they do not exist up north. Mortgage stays with the bank as a 5/25 deal, 25 year life span, interest re-negotiated every 5 years, thends to keep the rate lower. Oh yeah, one signature on one piece of paper, whole document about 6 pages long.
I guess the system here explains something I saw driving across the northern U.S. I saw a sign stating "Entering the NNNN National Forest". We saw exactly one tree.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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03-24-2012, 07:47 AM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Guess it all depends on when you bought; paid $1000 an acre for the 4.5 acres. Three years later they were selling lots 6 miles up the road at $135,000 for three acres. House cost $125,000 to build. County now values the land at $325,000 and the house at $250,000.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
Last edited by merrylander; 03-24-2012 at 09:16 AM.
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03-24-2012, 08:01 AM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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Quote:
Originally Posted by merrylander
Guess it all depends on when you bought; paid $1000 an acre for the 4.5 acres. Three years later they were selling lots 6 miles up the road at $135,000 for three acrres. House cost $125,000 to build. County now values the land at $325,000 and the house at $250,000.
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Think of all of the taxe revenue........Is the local economy really that strong, or are property valiues up just because the county assessor says so?
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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03-24-2012, 08:35 AM
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Senior Member
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Join Date: Aug 2011
Location: Derby City U.S.A.
Posts: 8,213
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Quote:
Originally Posted by BlueStreak
Think of all of the tax revenue........Is the local economy really that strong, or are property values up just because the county assessor says so?
Dave
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Happening there too I see.
Barney
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03-24-2012, 08:35 AM
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Senior Member
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Join Date: Aug 2011
Location: Derby City U.S.A.
Posts: 8,213
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Quote:
Originally Posted by BlueStreak
Think of all of the tax revenue........Is the local economy really that strong, or are property values up just because the county assessor says so?
Dave
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Happening there too I see. Guess it is nice to know I'm not alone.
Barney
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03-24-2012, 08:44 AM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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Quote:
Originally Posted by Charles
You'll never go wrong by being frugal. Just being out of debt is the greatest stress reliever I've ever taken.
Chas
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I was real close to paying off a credit card then cutting that high interest bugger up. Then, this bulge appeared on my belly. I can't wait to see the bill for that.....
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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03-24-2012, 08:46 AM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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Quote:
Originally Posted by Oerets
Happening there too I see. Guess it is nice to know I'm not alone.
Barney
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Been happening here for the last twenty years, or so. According to relatives, it's happening in Ohio now too. I wonder what causes that?
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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03-24-2012, 09:14 AM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Quote:
Originally Posted by BlueStreak
Think of all of the taxe revenue........Is the local economy really that strong, or are property valiues up just because the county assessor says so?
Dave
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The reason that the land is valued higher than the house is that just about all of the vacant land hereabouts is disappearing under McMansions and what is left is even further out from DC.
I used to be that you needed a minimum of 3 acres to build out here, mainly because of the 10,000 sq ft septic drain field and a well. Then some genius, prodded no doubt by developers, came up with the idea of cluster housing with smaller lots, individual wells but a common septic system. Should have called it a clusterf**k.
There is nowt funnier than a city dweller and his/her first septic system. T'ain't like city sewers, you need to be careful of what you throw down the drains and it needs a packet of yeast once a month. Forget that crap they advertise on TV, first laundry load kills it. Well the clusterf**k 3 miles up the road had all these McMansions full of city folk. No one was on charge of the septic system and it backed up.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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