hahaha "historically low income area"

that's racist in and of itself

1/1/2007 12:30:01 AM

What's the loan?

1/1/2007 10:53:34 AM

I can't think of the name but its

http://www.bankofamerica.com/loansandhomes/index.cfm?template=buy_first_home

1/1/2007 2:16:57 PM

^^note: most large banks and credit unions have this type of loan. its generally determined based on average income of the area you are moving to and your income. its more of a federal program and isn't really based on "prior discrimination". Wachovia has one I know, so does CFCU. same deal, no PMI, 0 downpayment, for first time homebuyers only

1/1/2007 2:50:17 PM

You can't make it go away.

You're stuck either getting a lower APR card OR waiting till after you graduate.

How well you handle this is pretty dependent on how strong your gift of gab is.

1/1/2007 6:31:26 PM

Quote :

"don't go thinking that you cna buy a house with 5k downpayment some people can some people can't I was approved for no down payment on my construction loan, but that was because I owned the land free and clear "

it all depends on how much you make and what your expenses look like. I got approved for my home loan with no down payment, but the loan officer said that he was only able to do that because of me being with the same company for over 5 years and having a decent base salary. banks will also want to see that you have equity of some sort in your name first. your credit score won't matter very much unless you have serious red flags that show up when they pull your information.

1/1/2007 9:17:09 PM

http://www.daveramsey.com

1/22/2007 8:11:49 AM

stop buying things you cant afford

1/22/2007 9:21:05 AM

Especially any products Dave Ramsey sells.

1/22/2007 9:34:40 AM

Quote :

"I understand that, but I have had these two "cards" for a couple of years now and almost nothing has come off of the principal and I think I have paid at least $1500 or more towards each."

Interest. It's a bitch when you're working for it. Take note of the power of it and use its power for your benefit in the future.

Quote :

"So I really wouldn't be taking any money from them I guess."

Uh, sure you would. How in the hell do you figure otherwise? It's irrelevent, though, because you are going to pay that money back, unless you want to fuck yourself from now until eternity by declaring bankruptcy (over $3500, haha).

Quote :

"i cant get credit.. apparently i have an account somewhere that i havent paid for.... but i dont know where ( i guess fraud) and on these two accounts i am a couple of months past due because I am basically jobless right now. any other options?"

get un-jobless, and do it, like, yesterday.

figure out what that unpain account is, and either pay it (if it's legit) or get it taken off your record (if it's in error).

Quote :

"are you seriously an ECON major or did you just put that in your profile after you created this thread as a joke? "

seriously, i want to know how anyone possibly got to be a senior in econ with this fundamental lack of understanding. that would be like me not understanding vectors by my senior year in ME.

Quote :

"i am an econ major.... all of this went down before i became an econ major... i chose to focus on school now and not working and now i am paying dearly for it. stop trolling me. you act as if you have never made a mistake or something"

1. you should understand this basic stuff without being an econ major.
2. it doesn't seem that you understand it now, either.

Quote :

"So you want your debt to be gone, all $3500 worth that you didn't actually charge up? I'd say you don't owe a penny."

he charged it up

Quote :

"Listen to Dave Ramesy"

not if you actually want to do financially smart things.

Quote :

"you should keep a credit card or you will be fucked when you have to show some credit history."

that, and you can get nice rebates from CCs. my Chase card gives 5% back on anything from gas stations, drug stores, and grocery stores, and 1% on everything else. In fact, I just deposited a $200 rebate check from them.

Quote :

"However, what about the interest you'll save over years of NOT having to pay interest on that additional $20k?"

well, what about the return you'll make by investing that money in something else? if your mortage is at 5%, and you get 10% in the stock market, you've come out ahead.

1/22/2007 11:56:09 AM

Ramsey isn't there to give the best advice financially, he's trying to treat the fucking problem, the spendaholics of this country. Thats why he doesn't suggest paying the highest interest debt off first, but the smallest ones. Its a psychological thing, just like many other addictions we have. He's trying to get you to see small victories in little shit to keep you on the path.

I'm not some drinking the juice rabid Dave Ramsey fan, but I have been reading one of his books and he says some shit that makes sense. I pretty much did everything he suggests before. I only owe a couple hundred on a credit card I used to cover some debts while I switched jobs and about 4k on a car. I only pay with a debit card, etc My main thing is I am using some of his suggestions to set my budget up properly. I live right about at my means, but I want to live under it, so I can get some good savings going for the kiddos college fund, and our retirement fund. Thats where I needed the most help, was better long-term planning.

1/22/2007 1:30:22 PM

Quote :

"Ramsey isn't there to give the best advice financially, he's trying to treat the fucking problem, the spendaholics of this country."

that's fine, i guess, just understand that his advice is not sound financial planning. get the big picture he's trying to paint, but ignore him completely for the nuts and bolts, actual tactics of what to do.

1/22/2007 3:30:08 PM

It's been a month. Pay off that debt yet brownie?

1/27/2007 1:05:53 AM

Quote :

"ignore him completely for the nuts and bolts, actual tactics of what to do"

says the guy who just advised a girl who can't control her finances or stop charging shit to her credit card,

Quote :

"you can get nice rebates from CCs. my Chase card gives 5% back on anything from gas stations, drug stores, and grocery stores, and 1% on everything else. In fact, I just deposited a $200 rebate check from them."

That's like an alcohol rehab program talking up the health benefits of drinking a glass of wine/beer everyday. gg, TheDuke, but I guess you know more about financial counseling than anyone else huh

[Edited on January 27, 2007 at 8:14 AM. Reason : s]

1/27/2007 8:13:46 AM

Quote :

"says the guy who just advised a girl who can't control her finances or stop charging shit to her credit card,"

What's wrong with that?

Quote :

"That's like an alcohol rehab program talking up the health benefits of drinking a glass of wine/beer everyday."

Worst analogy ever!

1/27/2007 11:14:36 AM

no, actually its a pretty good comparison. if a person comes to you and says, "i have a problem charging too much money on my credit card" and a part of your advice is to point out the awesome cashback rewards offered with some cards, its pretty goddamn close to an alcohol rehab program pointing out the health benefits of alcohol to a drunkard

1/27/2007 12:39:18 PM

i agree that it was a pretty good comparison.

[Edited on January 27, 2007 at 12:48 PM. Reason : though dropping down to 1 well done cashback card wouldnt be bad if it isnt a habitual issue]

1/27/2007 12:47:34 PM

Quote :

"no, actually its a pretty good comparison. if a person comes to you and says, "i have a problem charging too much money on my credit card" and a part of your advice is to point out the awesome cashback rewards offered with some cards, its pretty goddamn close to an alcohol rehab program pointing out the health benefits of alcohol to a drunkard"

He was just adding on to the person who stated.

Quote :

"you should keep a credit card or you will be fucked when you have to show some credit history"

If you go to the grocery store, drug store, gas station and you have a choice between paying with debit/cash or using a credit card then doesn't it make sense to use the credit card if you get cash back? Noticed he listed essential things. He didn't say, you should use your credit card when you go to Best Buy to get a 60 inch TV you can't afford because they'll give you X% off.

1/27/2007 1:47:09 PM

moron

someday you'll learn that perfection is the mortal enemy of good

[Edited on January 27, 2007 at 3:15 PM. Reason : s]

1/27/2007 3:14:35 PM

What?

1/27/2007 4:00:23 PM

exactly

1/27/2007 4:07:18 PM

Quote :

"It's been a month. Pay off that debt yet brownie?"

hopefully, she's busy at work trying to make some extra money to pay it off

1/27/2007 5:13:10 PM

Supersize Me:Maxed Out::McDonalds:Credit Cards



http://www.maxedoutmovie.com/about/index.html

Quote :

" Director's Statement In the days after 9/11, I remember turning on the television and seeing politician after politician deliver the same message: keep spending! George Bush wanted us to go to Disneyworld. Tom Daschle wanted us to buy that new suit we'd been thinking about. I thought back to my fifth-grade history book. Didn't it teach that when we're at war, we sacrifice, not spend? The economics of our culture have clearly changed and I wanted to find out how and why. I have been reading The Wall Street Journal since junior high school and was a Benjamin Franklin Scholar at the University of Pennsylvania's Wharton School, the oldest business school in America. So making a film about money wasn't a stretch. But I soon realized that I had no idea how the modern financial industry really works—it's predatory, Dickensian and absurd, all in one. From then on, I knew that Maxed Out would be about the way we live and the way we treat one another. It's about where we set the bar for the least fortunate among us. We're all led to believe that people get into financial trouble because they are irresponsible, but I've learned that most people are getting in trouble because the banks and credit card companies are setting their customers up to fail. Why? The more credit they give us, the more credit we need. When we inevitably fall behind, they can charge the huge late fees and the over-limit fees and the stratospheric interest rates that drive their profits. My goal was to paint the story of our debt-fueled culture in broad strokes. The more people I met, the more I realized that this is an emotional issue as well as an academic topic. So many people are being abused and manipulated by the financial industry but so few are asking "is this what we really want?" When the film is released, I'd like to challenge the assumptions about the way we live our lives and shift the debate. Do we really want to be in perpetual debt? Do we really want to have a sharecroppers' society, as Warren Buffett calls it? Citigroup billboards shouldn't be the only voice we hear in this debate. "

3/2/2007 11:19:16 PM

Quote :

"Supersize Me:Maxed Out::McDonalds:Credit Cards"

Supersize me is to Maxed out as mcdonald's is to credit cards?


Try again, Einstein.

3/3/2007 12:29:16 AM

Quote :

"We're all led to believe that people get into financial trouble because they are irresponsible, but I've learned that most people are getting in trouble because the banks and credit card companies are setting their customers up to fail. Why? The more credit they give us, the more credit we need. When we inevitably fall behind, they can charge the huge late fees and the over-limit fees and the stratospheric interest rates that drive their profits. My goal was to paint the story of our debt-fueled culture in broad strokes. The more people I met, the more I realized that this is an emotional issue as well as an academic topic. So many people are being abused and manipulated by the financial industry but so few are asking "is this what we really want?" "

ummm, how about not spending what one does not have, and living within one's means?

is that too hard?

so, the first part of his sentences, people are in debt because they are irresponsible.

i mean, the rest of the world does fine with spending/saving, but why is it that in america you have this credit card craze???

3/3/2007 12:38:43 AM

it's easy to not go into debt when you're content with living in sewage-filled streets

[Edited on March 3, 2007 at 1:02 AM. Reason : YEAH I"M TALKING ABOUT THOSE CROISSANT-NIBBLING FROGS]

3/3/2007 1:01:21 AM

Quote :

"Supersize me is to Maxed out as mcdonald's is to credit cards?"

dude... Supersize Me:Maxed Out::McDonalds:Credit Cards

can also be read as Supersize me is to mcd as maxed out is to credit cards.

basic math

1:3 :: 4:12

==

1:4 :: 3:12

3/3/2007 1:25:33 AM

Uh, it isn't math, it's English.

Just like those stupid SAT questions.

Up : Down :: Left : Right

You can't just switch the terms.

[Edited on March 3, 2007 at 1:50 AM. Reason : ]

3/3/2007 1:50:06 AM

its been 3 months how is this coming along?

3/3/2007 3:12:04 AM