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Joined: Nov 2004
Posts: 10,073 Likes: 9
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2004
Posts: 10,073 Likes: 9 |
Mines paid off but I almost took a loan on it just over a year ago at 2.125% on a 15 year. I kind of wish I would have done it and then put the cash in the bank. I've got some cds paying 5.1% now.
Although if I would have taken that 1.1 million loan on my house I may have done something stupid with the money. I wanted to build some smaller spec homes or use them as rentals. It's nice not having a mortgage in sloppy Joe's economy.
Bb
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Joined: May 2004
Posts: 56,249 Likes: 34
Campfire Kahuna
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Campfire Kahuna
Joined: May 2004
Posts: 56,249 Likes: 34 |
Give them a name, and say FBI. Pause briefly and say “You have the right to remain silent.” They will hang up every time.
I am..........disturbed.
Concerning the difference between man and the jackass: some observers hold that there isn't any. But this wrongs the jackass. -Twain
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Joined: Nov 2007
Posts: 29,698 Likes: 6
Campfire Ranger
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Campfire Ranger
Joined: Nov 2007
Posts: 29,698 Likes: 6 |
I work for a bank and the fee income we receive from mortgages is substantial whether we sell them on the secondary market or to FREDDIE & hold the servicing. There are a lot of people sitting on huge credit card balances who want to refi at a (cumulatively) lower rate.
A lot of calls have been going on to large deposit customers who for the past 15 yrs haven’t moved money out of savings or checking accounts due to money market accounts & CDs paying nothing. Money is now worth a lot of us so we’re offering higher yield products to those customers to keep the deposits in house and support commercial loan growth.
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Joined: Oct 2004
Posts: 4,193
Campfire Tracker
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Campfire Tracker
Joined: Oct 2004
Posts: 4,193 |
If I don't know who it is, I don't answer the phone. Done.
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Joined: Nov 2015
Posts: 15,478 Likes: 29
Campfire Ranger
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Campfire Ranger
Joined: Nov 2015
Posts: 15,478 Likes: 29 |
The schit is going to hit the fan around September watch n see
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Joined: Aug 2005
Posts: 4,689
Campfire Tracker
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Campfire Tracker
Joined: Aug 2005
Posts: 4,689 |
Screw them SOBs. 10 years ago I asked why the interest rates on CD was so low. Answer---we don't need/want your money---we can borrow the money cheaper from the FED. Put it in your pipe & smoke Bob
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Joined: May 2016
Posts: 220
Campfire Member
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Campfire Member
Joined: May 2016
Posts: 220 |
I get about four offers a week in the mail. For the last year it has been "refinance and take cash out". Now it is "refinance and pay off those personal loans and credit cards". My mortgage is at 2.75%. Don't need the cash and a 6.25% mortgage. The only credit card I use has a low or no balance. Never carry anything for more than a couple of months. Have a couple of things we bought on 12 months same as cash and 24 months same as cash.
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Joined: Dec 2004
Posts: 14,488
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2004
Posts: 14,488 |
If I don't know who it is, I don't answer the phone. Done. Yep. And if you don't leave a message you get blocked.
Don't be the darkness.
America will perish while those who should be standing guard are satisfying their lusts.
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Joined: Apr 2011
Posts: 69,511 Likes: 30
Campfire Kahuna
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Campfire Kahuna
Joined: Apr 2011
Posts: 69,511 Likes: 30 |
If I don't know who it is, I don't answer the phone. Done. Yep. And if you don't leave a message you get blocked. Yep. That’s what I do too.
"Allways speak the truth and you will never have to remember what you said before..." Sam Houston Texans, "We say Grace, We Say Mam, If You Don't Like it, We Don't Give a Damn!"
~Molɔ̀ːn Labé Skýla~
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Joined: Jan 2006
Posts: 69,535 Likes: 24
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2006
Posts: 69,535 Likes: 24 |
I paid this place off in '07. When we sell it at some unknown time, we'll be downsizing so it'll all be cash.
“In a time of deceit telling the truth is a revolutionary act.” ― George Orwell
It's not over when you lose. It's over when you quit.
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Joined: Nov 2010
Posts: 37,238 Likes: 11
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2010
Posts: 37,238 Likes: 11 |
I paid this place off in '07. When we sell it at some unknown time, we'll be downsizing so it'll all be cash. Your property will appreciate, well unless we have a real crash. Your “Brandon” cash will erode. Better feel your bank’s pulse before going too heavy with their schemes. A T Bill may or may not be better than a CD. Annuities are usually with ins companies, so who knows. I’ve been told they, by law, must have over 100% in reserves to cover your annuity. So, what’s safe anymore. You can’t eat gold or silver. Guns and ammo could be good barter material. Just depends on how bad it gets. Food and shelter are necessities, of course. DF
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