A couple months ago, NamelessBank caught wind that we were looking to refinance our $640K mortgage with them on the existing house, as half of the overall financing plan for the new larger house down the mountain a bit. (Apparently, any bank can tell when its loans are being sniffed, by virtue of the credit bureau reporting system - .)

So NamelessBank said to MsExecMBA - we will meet or beat any offer you have.

And sho nuff, she had one for 5.5 fixed for 30 years from a small local bank.

And they said fine, and we closed.

So when we get our bill for the first payment, it's at 6.9 - floating.

Fortunately, she had an emai ltrail a mile long and a mile wide, and after two or three days, NamelessBank had to cave and agree that yup - that's what the deal was. (I woulda love to have been a fly on the wall inside their Legal Department as they realized what a jury would do with that email trail.)

I truly believe we actually have a one-of-a-kind mortgage which literally no one else in the country has (if you know of one as good, feel free to burst my bubble,)

Coincidentally or not, three out of the four folks originally involved in the deal have been fired.

But I gotta tell you I don't much care.

I'm laughin all the way from the bank.

Banker and boss
hate the Red soviet star
Gladly they build
a new throne for the Czar.

But from the East to
to the Red soviet sea
Lenin's great army
brings victory.

So workers hold your ranks
stay sharp and steady
For freedom's name,
your bayonets bright.
For worker's Russia,
the Soviet Union,
together for the last fierce fight.

(Song I learned at my red mother's knee ...)

and we really do care.

....really we do

Be careful, Trite.

Folks might think you've come around to my point of view on posts about the minor triumphs and travails of everyday life.

And you wouldn't wanna be caught dead agreein with me about anything, wudja?

Of which there seem to be many.

Is it tough being so very needy?

Illogic and distortion in equal measure - I tell ya - Multi-Bore GloryHole better watch her step - her crown may not be hers much longer.

But lemme ask you a question, Trite.

How many crackers did you get for learning to say "needy"?

That is a real triumph--though I would not be buying real estate today, as I think it's gonna fall some more--say another 10%. But at terms like yours, it sweetens the pill.

I wonder how many people could even figure out they were being screwed? Let the borrower beware!

I got shafted by a mortgage broker on a refi when they stuck in a prepayment penalty that I was never informed about. Gotta watch the cocksuckers.

Hey G - glad to know you appreciate it.

Check out the stats on Williamson County, TN - it's damn close to Westchester County NY and Marin County, CA.

And we got 41 acres topping an 1100 foot mini-mountain with a 270-degree 150 mile view clear across the Cumberland Plateau to the Smokies.

So yeah - I'd agree with you in general, but in this situation, I think it can only go up (like KY Jelly heh heh heh.)

Even though the land itself was $600K for the first 30 (plus existing house), $100K for the next five and $200K for the last six.

Cause last year LeAnn Rimes shelled out $5M for just five acres with the same kind of view as close to town - only 25 miles or so from Music Row, even though it's so rural here there's been no sewer lines laid by no one.

Plus, it don't matter if it goes down actually, because it's not an investment. It will go to the Audubon Club or something like that when she's gone - a long time after me. There was a place like that in the village I grew up in - Brinton Brook Nature Preserve - some friend of Irk's and Arch's left it for that purpose when she went. (Seriously - except for the part about Irk and Arch.)

Anyway, Dave Ramsay (who's based in town here) says real estate is the only place to be right now if you want anything that will appreciate safely.

Your last sentence had me in ironic stitches. I didn't think even the real estate shills were pushing that line anymore. "Appreciate safely": tell it to Fannie Mae. Well, as long as Paulson's at the helm, at least real estate won't safely depreciate, will it? I think real estate will return to being a province of the rich, and 90% of us will be peons.

Yeah - I guess you're right about Ramsay - he's the one whose big thing has always been pay down your credit binge as soon as you can and cut up your cards

How much more freakin un-American can you get than that?

No, I agree with him about credit cards; that's a no-brainer. It may not be what the president is telling us to do, and may by unpatriotic insofar as it doesn't make the merchants and banks happy if you're not paying interest. But, as Cramer said about stocks--which also applies to housing--your neighbor can fuck you up even if you always pay your bills on time and never buy on margin. Eventually the whole country gets a margin call. There's Peak Oil, and there's also Peak Credit. Peak real estate values in real dollars. There are always exceptions, and 5.5% 30-year is fantastic.

Actually, when you look at the total situation it's even more amazing the great job she did shoppin around and timing things relative to the changes in jumbo policies:

$340K @ 5.5 fixed for 30 (for construction, new house)

$346K @ 5.75 fixed for 30 (left on land/existinghouse)

$750K @ 5.5 fixed for 3 (for construction, new house)

Be interesting to see what happens with the last chunk in three years - I've noticed that banks are eager for folks with 740+ ratings and will cut themj remarkable deals for their business.

But then again, isn't this fact just a different version of the rich getting rickher while the poor get poorer ....

That these fucking no-good cocksuckers who tried to give you the pooper-dooper shaft up the old heave-ho probably had an assemblage of exotic genital warts, suffered from cum-breath halitosis [24/7], had yellow in-grown toe-nails, scabs on their arses, herpes round the lips, maybe cheated on their spouses with the escorts, liked to have their cock-rings twisted on good-'n-tight, but is that any fucking reason to celebrate the damn cocksuckers losing their livelihood? I mean to say, c'mon dude, whassup wid dat. Where's your compassion, for orgasming out loud?

You know what they've always said about certain leftists, zeeb:

they love "the people", but hate people

Guilty as charged, I fear.

I never really needed to know the word until I started reading you.

PS

5 1/8

15 years

We owe 12 more

Lowered at no cost to us.

Why are you paying so much for so long?

Honestly, Dave, do you believe you'll live another 30 years?