Wednesday, September 13, 2006

Mortgage Ad

Mortgage Ad.


  1. I imagine there is probably some fine print along the lines of this:

    **Terms and conditions apply. $1,698 applies to first year only. Negative amortization of interest at $2,000 per month applied to loan balance during first year. Should total negative amortization exceed $2,000, which will happen, rate automatically resets to highest rate allowable by law (currently 15%, however if your city is 'different' or 'special' the rate is currently 19%). Loan subject to prepayment penalty equal to two times loan balance if paid prior to scheduled maturity. We own you. You are a real estate serf. Forever. Free plasma TV included for your servitude.

  2. yes ... VERY annoying pop-up ad ... however, the dance performed between these two roof-top lovers IS also extremely erotic ... Ahhhhh, why can't people make decisions based on logic rather than emotions!?!? We'd have a lot less bubbleheads around! ;)

  3. John F: hehehehe....I liked your "fine print"....funny stuff!

    Lance: Hey! How are you? I totally agree with you, only the last sentence should read " We'd have a lot less HOUSINGheads around!" :)

  4. I would like the 3% Mortgage, fixed over 30 yrs. No points added too. I can do $1698.00 monthly. Lance, please hook me up. P.S my FICO score is two. Make me a deal I can't refuse!!!!!

  5. Are they standing in front of the moon or a giant bubble?

  6. option IO ARM
    dummies dance on pitched roof
    both upside down soon

  7. Lance opined: "Ahhhhh, why can't people make decisions based on logic rather than emotions!?!? We'd have a lot less bubbleheads around! ;) "

    Actually you're right. If people made decisions based on logic rather than emotions, a lot of the rash speculating and desperate bid-wars that ran-up prices would not have occurred in most of these markets and there wouldn't be bubbles in the first place!

  8. anonymous

    -good haiku, but does 'pitched' really count as two syllables?

  9. ah... I get it...

    "pitch" -"ed"

  10. My Thoughts Exactly
    In my book, pitched counts as one
    Thank you. My $0.02.

  11. Senryu
    17 syllables or less.
    relates to human foibles.

  12. Lance,

    I can't believe I 100% agree with you. If we had less emotion in the housing market ("buy now or be priced out forever") we wouldn't have the bubble... but manias are manias. We're stuck with consequences of this one.

    Slowly I watch friends scamble to make mortgages as they cut everything else from their budget. I cannot help but notice that the crowd that HELOC'd their way to nice SUV's, the best season tickets, etc. is starting to pull back. While season tickets for anything good is sold out for the year... the aftermarket isn't what it was last year (tickets on stubhub are being offered for below or at face value for half of the games).

    Now the add: sadly people will fall for it. Thus delaying the rate of the plummet. But how can they offer this? Everyone I know in the banking business can't shut up about how dry the mortgage secondary market is becoming for the "exotic loans." Its amazing me how many mortgages are being kept on the books of Countrywide, Ameriquest, etc.

    And the shear number of speculators... absolutely amazing. Due to these refinancing, I'm changing my prediction that 2007 will be the bulk of the drop; I now join the chorus being negative on 2008.


  13. super annoying ad!!!!!

  14. that ad pops up all the time when I'm on the internet.

  15. Jeez, Lance, given your track record, you're just about the last person who can chastise others for emotion-based reasoning. You really ought to read some economic history. I recommend "Devil Take The Hindmost".
    -- sglover