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Can't refinance under water


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2007 May 3, 4:35am   24,282 views  283 comments

by Patrick   ➕follow (59)   💰tip   ignore  

underwater houses

During the boom, if borrowers asked about the adjustable rates on their mortgages, they were told "oh, you can just refinance and start over".

But no one told them you can't refinance if your house is under water, that is, if the loan amount is more than the value of the house. Banks won't go for that, even in the continuing lax lending environment.

So their rates will adjust upward, and they won't be able to pay the mortgage, or refinance, or sell for what they paid.

Interesting times ahead.

Patrick

#housing

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143   Randy H   2007 May 4, 7:54am  

Or perhaps we are energy beings after all. The physically world may be an illusion.

Even if this were true, the fact that you experience the physical universe, well...physically, makes the idea moot. If you jump off a building you will fall to the ground and die, because of gravity, imagined, illusionary, or real, all the same.

This is the problem I have with the postmodernists. The difference between something *real* and something *illusionary-but-perceived-exactly-as-if-real* is inconsequential.

Question: "But we could all be just dust in the wind. Isn't that deep?"

Answer: "No. Who cares. Quit smoking so much pot while watching adult swim, thinking you've discovered something profound".

144   Peter P   2007 May 4, 7:54am  

GC, have you looked through all the regulatory requirements yet?

145   Peter P   2007 May 4, 7:56am  

This is the problem I have with the postmodernists.

This is why I am a sophist, not a postmodernist.

146   Peter P   2007 May 4, 8:00am  

Even if this were true, the fact that you experience the physical universe, well…physically, makes the idea moot. If you jump off a building you will fall to the ground and die, because of gravity, imagined, illusionary, or real, all the same.

Then what really separates this universe from Second Life? :)

I think SL has gravity too.

147   Malcolm   2007 May 4, 8:06am  

Hey Peter, I think I had the same argument with my brother once. That whole, perception is the reality nonsense. I used the same counter, I don't care what your perception is, if you jump off that building you will die regardless of whether you perceive it as tall or illusionary.

148   Peter P   2007 May 4, 8:09am  

Malcolm, you are right.

Actually, if a person truly believes that perception is reality he will be actively trying to change his thinking in order to improve reality.

Anyhow, I am not a good postmodernist. I am a pragmatist.

149   Malcolm   2007 May 4, 8:11am  

Peter, why do you consider yourself a sophist. That doesn't have a good connotation.

150   Malcolm   2007 May 4, 8:19am  

Actually GC, I think your position is kind of clever. How about this angle? If the guy is jumping off the building to prove the perception is reality, and he splatters on the ground he has failed to prove it, and the fact that he died before he figured it out is +1 for Darwinism. Since we are then left laughing at his stupidity, I would conclude his argument falls short, pardon the pun.

151   Peter P   2007 May 4, 8:23am  

Peter, why do you consider yourself a sophist. That doesn’t have a good connotation.

Astrid called me a sophist. I assumed she would not call me anything bad. Oh well.

152   Peter P   2007 May 4, 8:25am  

But, before that computation could terminate, the processor blue-screened. So the man died happily believing his prior notion.

Blue screen? Whose fault is that? ;)

153   Malcolm   2007 May 4, 8:26am  

Ha ha. I don't know that it is bad, it just means that you would try to win an argument by your charisma verses solid logic and support. I kind of consider Penn and Teller to be sophists.

154   Peter P   2007 May 4, 8:27am  

Ha ha. I don’t know that it is bad, it just means that you would try to win an argument by your charisma verses solid logic and support.

If I had the required charisma I do not mind being a little facts-challenged. ;)

155   Malcolm   2007 May 4, 8:29am  

I'm normally suspicious of people who throw the labels around verses just saying what's on their mind. I'm kind of tired of the term 'straw man' being thrown around everytime someone wants to sound enlightened.

156   Malcolm   2007 May 4, 8:30am  

You'd be a sophist if the Sushi Guild of America made you their spokesperson.

157   Different Sean   2007 May 4, 8:31am  

Malcolm Says:
I also recently heard an interesting stat, that out of the guys under 30, 1/3rd of them are not getting laid.

Despite what you read in the stoopid glossy magazines, where the 'surveys' show that everyone is having sex all the time, that there are no STIs or risks and that relationships are just incidental... everyone in this world is attractive, and if you go more than 2 weeks without astonishing sex with a total stranger, it's just statistically aberrent...

158   Malcolm   2007 May 4, 8:32am  

GC, because of the point of view. It sounded to me like the guy killed himself without being convinced by everyone else, I put the burden on him to prove it, so it doesn't matter to me whether he was convinced since the proof is what killed him.

159   Malcolm   2007 May 4, 8:32am  

If someone asserts that reality is not real it is up to them to prove it, not for me to prove it is real.

160   Malcolm   2007 May 4, 8:35am  

I'd rant about how this silly thinking is a product of the UC system, but I can only handle a couple of people wanting to string me up at a time, so I won't say it.

161   Malcolm   2007 May 4, 8:37am  

My poor brother, he got a communications degree from UCSD, and it literally made him a poorer communicator. I don't know if it is the courses or if he just didn't show up for them. What a waste of time for him.

162   Different Sean   2007 May 4, 8:42am  

This is the problem I have with the postmodernists. The difference between something *real* and something *illusionary-but-perceived-exactly-as-if-real* is inconsequential.

Isn't that more the phenomenalists or empiricists? That movement dates back centuries. e.g.

After we came out of the church, we stood talking for some time together of Bishop Berkeley's ingenious sophistry to prove the nonexistence of matter, and that every thing in the universe is merely ideal. I observed, that though we are satisfied his doctrine is not true, it is impossible to refute it. I never shall forget the alacrity with which Johnson answered, striking his foot with mighty force against a large stone, till he rebounded from it -- "I refute it thus."

James Boswell: Life of Samuel Johnson Book 3

The postmodernists more question 'the document' and 'claims to knowledge' than the fact of existence or phenomena themselves... ref. Foucault and Derrida...

Anyhow, I am not a good postmodernist. I am a pragmatist.

erm, couldn't you be both? foucault is an ultra-pragmatist and ultra-realist when it comes to analysing politcs and power claims... that's what the whole thing's about -- removing the veil of BS from pronouncements from pollies and other 'textual' information such as the newspapers...

163   Malcolm   2007 May 4, 8:42am  

Different Sean:
It was just thrown out on one of those radio shows and it was surprising to me, that's all. There was no judgment or opinion on my part either way. I'm just the messenger, I didn't write it.

164   Peter P   2007 May 4, 8:44am  

Actually, one does not necessarily need facts and logic to reach agreement from the other guy. One does not even need to communicate well. So long as the other guy gives in you have achieved your goal.

165   Malcolm   2007 May 4, 8:45am  

I guess you are a sophist.

166   Malcolm   2007 May 4, 8:46am  

You don't even need him to give in, just for the mob to think he did. Just shout over him, that's the way to win an argument.

167   Randy H   2007 May 4, 8:47am  

Peter P is an ironic sophist with a sense of humor.

I, on the other hand, am just an old fashioned asshole.

168   Malcolm   2007 May 4, 8:47am  

That's why I love debating online. The loudest anyone can get IS TO WRITE IN ALL CAPS, MAYBE ADD SOME FROWNIES.

169   Malcolm   2007 May 4, 8:49am  

Has anyone seen the 'until their 4' 9 use a booster chair' ads. I thought it was 60 pounds. There are a lot of people especially women who are 4'9. That seems kind of tall for a car seat.

170   Peter P   2007 May 4, 8:49am  

I, on the other hand, am just an old fashioned asshole.

Huh? Oh, that's right. You made all those avatars cry. You meanie!

171   Malcolm   2007 May 4, 8:50am  

I'm just self centered. Not selfish though, but I am the center of my universe. Oh wait, my perceived universe, which is real to me.

172   Peter P   2007 May 4, 8:51am  

I’m just self centered. Not selfish though, but I am the center of my universe. Oh wait, my perceived universe, which is real to me.

Who isn't? Until you have that out-of-body experience, you SHOULD be self-centered.

173   Randy H   2007 May 4, 8:53am  

I'm still making them cry. I just picked up an angry Latvian/Finnish fanboi stalker recently who keeps sending me barely comprehensible rantings about how evol I be.

My last reply to him was something along the line of:

"muhahahahahaha"

174   Malcolm   2007 May 4, 8:53am  

I had the beginnings of one as a child. It was very interesting, even had the sense that I could know anything I wanted to ask, what a time to get a mental block, normally I ask too many questions.

175   Malcolm   2007 May 4, 8:54am  

Randy, are you taunting the FBs again?

176   Peter P   2007 May 4, 8:55am  

Randy, you should frame some of those masterpiece rants.

177   Randy H   2007 May 4, 8:56am  

LOL

I actually don't taunt many FBs, unless they are named Casey and make a blog parade out of it.

I do taunt stuffed hair shirt academics and weeping fatso fanbois who think a computer game with jerky, clunky graphics represents a brave new world in which they are the future playboys and oligarchs.

178   Malcolm   2007 May 4, 8:59am  

I really need to check out this SL thing. I was always fine just playing monopoly.

179   Peter P   2007 May 4, 9:00am  

Perhaps Patrick should open a shop on SL. I suspect they may soon have housing bubbles.

180   Malcolm   2007 May 4, 9:02am  

Not if their reality is that house prices go up 15% per year just because they do. I wonder if David Lereah is a sophist?

181   Different Sean   2007 May 4, 9:05am  

i begun to think edmunds.com had localised content, but no...

Full Test: 2007 Holden Commodore SS

182   Peter P   2007 May 4, 9:07am  

RE: Holden

Wow. I hope they have more seafood shipments from down under as well.

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