Feb
7
February 7, 2009 | Leave a Comment
First, read this article: http://blog.stealthmode.com/2009/02/06/an-open-letter-to-my-two-mortgage-companies/ I, at first, wanted to join in the bashing that was going on in the various internet forums. I scrimped and saved and paid off my home mortgage in about 6 years. I do coding/teaching/projects on the side and used it to pay off all my student loans and mortgages. [...]
Dec
22
Best Investmetns in a Depression Part 2
December 22, 2008 | 1 Comment
Right now is a terrible time for investors. Risk exists everywhere. Banks won't loan to each other let alone you. If you do have cash right now. Where is the best place to put it? In part of Best Investments in a Depression, I discussed paying off your debts as a way to get 100% [...]
Dec
17
Best Investments in a Depression
December 17, 2008 | 8 Comments
A financial apocalypse descends on the US and the world. Stock Market returns are terrible. Treasury Bills have a negative return. CD rates are falling. What do you put your money in times like these? A few people have asked me, where do you put your money now? Nothing is safe and the sky is [...]
Dec
11
Home Ownership is for the Wealthy
December 11, 2008 | 1 Comment
Now that America is trying to sleep off the housing bubble hangover, people like me can say I told you so. Houses are for the rich. Always have been, and for the foreseeable future, always will be. By definition, poor people can afford little. So putting a poor person in a house is a fundamentally [...]
Dec
3
Warren Buffet's 10 Ways to Get Rich
December 3, 2008 | 1 Comment
If you're a Warren Buffet zealot then this is for you. It's a list of Buffet's "money making secrets." http://www.warrenbuffett.com/warren-buffett-10-ways-to-get-rich/ I don't think these are all that secret. It looks more like common sense but your mileage may vary. Maybe that's why Buffet's so loved. He's obscenely rich but acts just like the common man. [...]
Nov
5
Credit Card Rates Going Up
November 5, 2008 | Leave a Comment
If you're like millions of Americans you may be getting a surprise. You're credit card company is probably raising your APR (interest rate). What should you do? Don't Carry a Balance I use a credit card but don't care about the APR. How can that be? Am I too rich to care? No, I just [...]
Oct
29
Securitization – Good Idea Gone Bad or What Just Happened
October 29, 2008 | 1 Comment
I used to work for a credit card/finance/mortgage company. I always wonders how they got around the capital requirements I learned about in Money and Banking class. Well know I finally understand the big picture. Most of the expansion in the last 20 years has been a result of securitization. What the Heck is Securitization? [...]
Sep
30
Putting the Blame Where It Belongs
September 30, 2008 | Leave a Comment
So who's fault is it? Greedy White Republican Investment Bankers? How about a fat Southerner with a penchant for fast food, chubby interns and cigars. New York Times 1999 Article about Fannie Mae loosening credit policies. In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing [...]
Sep
3
Why First Time Home Buyer Programs Are a Bad Idea
September 3, 2008 | 2 Comments
Another home remodeling project is almost complete. My back hurts, my hands are scraped up pretty good and I'm tired. Working on my house always makes me wonder if I made the right decision about buying a home. If I could go back in time and give a younger me advice, what would I say? [...]
Aug
6
Should you rent or buy? That's one of the hardest questions to answer. Most articles don't tell you what you really need to know. This one does. I'll give you the facts about home ownership. Fact: Houses need maintenance. Your maintenance costs could be as high as thousands of dollars a year (or more). Fact: [...]