Monday, January 21, 2008

BEAN HEAD LOGIC (January 3, 2008)

I had a chance to read some beanhead logic and see an opportunity to prove he is a retard. "How is that banks created money by fiat meaning they really did not loan any money, and were compensated the loan amount by the Fed, how is it they are going broke because of the defaults on all the loans?" That is a good question! The banks cannot go broke and any one that does is a political ruse to maintain the confidence with the public that the lies they believe are the truth. Citibank got an influx of 7 billion not because they needed it but because they can. That is the power of the master over the government they own. The local banks create the money on the spot and are not compensated from the Fed. It is not a loan!

"First, the "banks" didn’t create the money by fiat. Your gross oversimplification is based on some mythology you’ve heard or read about from scammers like Johnson and Gashler." The banks do create by fiat. It is actually outside "oversimplification" the monetization of money deposited in the form of a promissory note. This is not exactly a fiat process in being created out of thin air but taking the wealth of another and through a conversion process making it your own. The trial transcript of Walker Todd on the witness stand in the scammer's trial made this clear as a matter of fact validated by his nearly 20 years of experience at the Fed window. What was your experience again? Was it mystical economic theory?

"They don't want you to understand that mortgage lending may or many not have anything to do with a "bank" or the Fed. Mortgage lending involves a large number of financial institutions some of which have nothing to do with the Fed or FD1C." This is brilliance at its best. Mortgage lenders for the most part are not banks, financial institutions, or related to the Fed in any way. Most are mere paper pushers without an interest in the transaction. But what do they really do? They have a warehouse line of credit generally with a "bank" or financial institution that has an association with the Fed. This line of credit is a promise of extension of credit based upon the deposit of promissory notes. It is still the promissory notes that fund the transaction and they all end up on a banker's ledger with the one small exception of a real mortgage by a real lender.

"The "banks" aren't going broke from defaults, nor did they or any other lender get paid back by the Fed. You’re mixing apples and oranges with basketballs. Just because they are round doesn’t make them a suitable point of reference. Mortgages have little or nothing to do with the Fed sources of money because the funds for most mortgages ultimately come from the bond markets. In between are specialized lenders who do the short-term lines of credit for the days or weeks required to collateralize the pools." The Fed have nothing to do with the source of mortgage money but they have everything to do with deriving a benefit from its creation. Mortgages are not funded by anything other than the promissory notes deposited. The specialized lenders, bond markets, and institutional investors that generally purchase through a GSF, are all secondary market lent against a pool or package which is another promissory note product. That product is the height of fraud because they represent they have rights, title, and interest in the original promissory notes they have pooled. This is the government protected scam at its best. This process is different than the monetization and is called securitization. Securitization is not at all relevant to the moneys available to the mortgage borrower. It is merely a secondary ruse to create a scenario so lemmings can create their fraudulent theories around false economic realities. Some people don't like smoke blown up their ass and some do I guess.

"Most mortgage lenders rarely make loans on residential mortgages using their own deposits or even their own capital. There are some "hard money" lenders but their share of the market is tiny." Almost all mortgage lenders never use their own capital. Their capital is tiny and they all use warehouse lines of credit from an actual bank ultimately. A hard money lender in the traditional sense is an actual mortgage lender in that they will take their capital and attempt to make a small spread between the cost of their money and the sale of it. This is the scenario of actual lending that everyone gives as factual to the mortgage industry which does not do it that way. They say they do and that appeals to the sentimentalities of the good moral man whose father told him to be honest. Who's father also told them not to be stupid but that gets ignored. No father will tell his boy to let men steal from you and be a sucker every chance you get.

"The process of originating and then selling off the loan into the RMBS conduit can be more profitable than making loans and holding onto them over time." No shit Sherlock! One they most sell them as an average mortgage lender to restore their lines of credit and reduce their cost. They really have no interest in holding them because they are only working for the commission or origination fee. If we go to the ultimate lender the bank, they want to sell it for two good reasons. One they net a total profit of the amount of the stolen wealth of the promissory note minus the commissions and sales cost. Generally about an 80-90% net profit depending on the discount. Even if this process takes 90 days you can't beat that pleasure in business. Two they create legal hurdles to their advantage by the conversion into commercial paper "money" where the judiciary will do all they can to avoid its overturn. The holder in due course and good faith transfer issues come into play. Of course the fraud that originated the entire process would bust through this charade if justice and equity were alive in the courtroom.

That should be enough! You are the one passing silly advice. The investors were lied to more than you can imagine in that the overstated assets alleged to back their investments that is now being exposed is far worse. The actual asset sufficient or not was not within the power of the seller to transfer. They had no rights, title, and interest. Your GSE's are the major facilitators of this investment or should I say securities fraud. Oh that's right those who make the laws don't have to abide by them. If you are so smart that you can see the securities fraud, I'll add with such compassion, why don't you look to the banking mechanics, contracting law, and the UCC to figure out there is a ruse of epic proportions? I think because you are not honest or afraid to admit you've been duped all your life by lemming juice.

A side note: Happyjack; you don't appear too happy!

28 comments:

near the end said...

Your talkin way over his head Kurt.


I think Happy Jack works for American Equity.

sopsback said...

Years ago, I read about a family that resigned from the 'Corporation of the United States' with the end result of loosing the 'right to vote' and no longer paying Social-Security or Federal Taxes. I'm sure this loophole has been plugged or re-written to make it so complicated that it is impossible to do - my question is IF this is still a viable option for 'recipients' can not an enmasse resignation occur and if so does anyone know if the outcome would be beneficial for the individuals as well as the Constitutional U.S. Any response either private or in the open is appreciated.
=========================





All very good points. Good questions. It shows that someone out there reading this material is looking down the rabbit hole and can see the necessity to 'dis-enfranchise'. There are a number of websites that have very good educational material on the subject of 'emancipation' and/or 'cancellation'. It takes time to do any process. Some are more detailed and more comprehensive, more steps, more pages, more notary work, more parties to serve, more for a 'third party' mail acceptor-server to do for you. New information is emerging as we speak, which may actually be more effective and require less time and work. This is not for those who have not studied, don’t know the issues, and the conditions precedent to the time we are now in. All new processes are experimental, based upon a certain new and preliminary understanding of how the whole damn thing has been woven together. I mean to tell you, it could not have been woven more tightly and seamlessly. So, some folks want a 'how to' version and don't want to study up. I'm not trying to give history lessons. I'm trying to tell everyone who is a recipient, that their status, standing, and capacity in re: the 'federal corporation' is that of an 'indentured' slave and property. Secondarily they are fiduciaries for the UNITED STATES acting at all times, "from cradle to the grave", for the UNITED STATES, and they do not even have the slightest clue, because NO ONE EVER EXPLAINED IT TO THEM, AND NO ONE EVER GAVE THEM A FREE WILL CHOICE.

I'm not 'writing a book' as someone has just characterized..... I'm being too wordy. OK, I said I'm not a writer. My head is full of this information, the CABAL is out of credit funds and has set up Wanta and all other 'payee recipients' Levels 1-10, to be their victims, or their pack mules, so whatever they have not directly diverted and hypothecated, will be converted upon acceptance, deposit, activation......whatever. I will be in the same position as everyone else, even though I have been doing my 'home work' on this and have done a great deal to make my status, standing, capacity, and political-legal domicile clear and certain to the U.S. and FRB. It/they are a machine, like Agent Smith in the movie MATRIX. They just keep on coming, and it is all about CONTROL.

I do not believe that the processes developed and used to-date are going to be effective. If anything, they may cause one to become more of a target. The IRS, TREASURY, DoJ-FBI are working much more closely now than ever before, and they are coming after people like me and those others that are 'out there' developing new information from new research, new processes and procedures for getting the thing done that need be done. Just being able to know what needs to be done, yet alone how and by what means to do it, is a majore break-thru.

If I put you into some of the websites or in contact with some of the people that are the 'educators' that are quite on point and excellent for educating anyone on 'emancipation', it would take most people quite a long time to get through just the basics. Doing the actual process takes months. There is no time for that under the current rolling crisis. The emerging information may or may not be something that can be shared. It works like this. Every time we have a break-thru in their courts, which is the only place where it really matters, it is on their networks within minutes or hours and it is put out all over the country. The really major break-thru's are 'sealed', or people are threatened, or some have accidents. The judges, prosecutors, agents, etc. etc. are all working 24/7 against us breaking-thru. They are in/out of meetings, strategy sessions, planning, scheming, setting new 'policies', and creating new 'programs' like FBI "COINTEL PRO" etc.

There is not time for us to do anything more prior to funding, except to perhaps give some boiler plate for doing a 'reservation of rights' and 'conditional acceptance' with a few terms and conditions that might help to protect. I don't know. I never intended to be teaching this to anyone, especially at a distance to persons that are unseen and unknown to me. Even for those of us who have 'resigned' and severed legal relations, rescinded all signatures, 'withdrawn' from SS, given notice to IRS of 'change in fiduciary relations' etc., we are aware 'they' are still trying to compel us to return to the plantation. There's simply no time left, my friend. Not unless there is intervention and an announcement. In that case, someone else, or some much greater and far superior complex of interrelated forces will have come into the situation and saved all of our 'ass_ets'.

I'm sorry I don't have a more favorable response. I am an optimist most of the time, but I am also a realist. The System must break, or it will break us. We have been fighting this thing all the way back in time. It is no different now than when the colonies 'broke' with the Monarchy. Fact is, we never really broke. We only thought we did.

Judge Roy Bean said...

Kurt, I'm not the one going to prison for passing not only silly, but legally fraudulent advice.

You are. And you've ruined a lot of lives in the process.

sopsback said...

BOTTOM LINE IS:


LEARN YOU RIGHTS!

WHEN SOME OF THOSE BELLY BRAWLS HYIPs PAY OUT BIG LIKE THE DG, EVERYNONE WILL BE LOOKING TO STELL YOU MONEY!

DONT TURST ANYNONE!

NOT EVEN YOU BROTHER!

NOT EVEN YOU SISTER!

NO, NOT EVEN YOU FATHER/MOHTER!

ONLY JIMMY NOONE! HE ONLY ONE THAT CAN BE TRUSTED!

PUT NOTHING IN YOU NAME©


rember:AT THE WEDDING...

"YOUR MOM AND BROTHERS ARE LOOKING FOR YOU...."

"MY ONLY 'BROTHERS' ARE THOSE WHO DO THE WILL OF MY FATHER IN HEAVEN."


REMBER THIS!

truth be told said...

judge roy bean
mmm
an appropriate name
for a response like yours..you dont have a clue as to what this forum is about....
you dont know squat about banking...
judge bean brain
why dont you go somewhere else...
your not wanted here...
bean brain....
truth be told

Scott from Vineland said...

near the end said...
I think Happy Jack works for American Equity.
___________________________________
Actually, I think happyjack makes a very nice living building seawalls, docks and boatlifts. If I'm not mistaken.

sopsback said...

NOW PAID ATTENTIN!!


now, IF you were bakers, and needed a reason to switch you baking herbs from one to another, say if you were baking with thyme, or parsley or ??? and you wanted to now bake with basil, or basle, or basal or howver the hekc they spell it?

but, yo no taht yo cant just cahnge the herbs in the dough, becasue if the "general pubic" finds out, they will cause a proablem.


becasue yo no that the gen pubics are walking around honcouscous...and would never undersantd it. they dont no the UCC, or baking codes, how to make dough rise form tin air, etc.

so yo want to change to basil, but how?????

easy...

you create a reason...

and wahts the gen pubic really ascarred of??

what esle??

SECURITY! OF OCURSE!

so, in order to change the baking herbs to basil, you need a securtiy reason.

voila'!

so, now some genus stold $7Billons worht of hot dogs, or in your rope they call em franks or your o's or whatver?

so, now are yo foolowin here?

so now, this "genus" stoled the $$$, so now the bakers can excuse with

"in order to protect the pubic form this again, we need to change the whole baking system herbs taht we use"

yes, we are now gong to bake our dough, with basil or basel, or basle or ??? WFT??

OR



how yo no that.....

wisdom.....

tho they will probably need a few more controlled "heists" before they can chagne the herbs to basil.

one wont prob do it.

so look for some more "rogue" trader like the $7B guy, or years ago, the berings guy or maybe juge bean will make some trades from behind the bench or maybe his raincoot.

yep, lou minarde alway gives the pubic what they want, making them think that they want more "security"

notorial dissent said...

Comes now the Bilge Report for January 3, 2008

Wherein Kurt makes an immense amount of noise and starts in with some new lies and wild imaginings. All of which is nothing new or unusual, or even particularly original, or any closer to reality than any of his other nonsense.

Kurt lie #1
The banks cannot go broke and any one that does is a political ruse to maintain the confidence with the public that the lies they believe are the truth.

Oh, and yet we see clear evidence of banks being closed down all the time for insolvency caused by capital depletion. So these are all just pretend bank failures then, do try and explain that to the shareholders who got stuck holding worthless stock when the banks were seized and sold or just flat closed down. And please, by all means explain away the hundreds upon hundreds of banks and S & L’s that failed and were closed down back in the 80, they were all just illusion were they? You might want to try telling that to all the people who lost their jobs in those imaginary bank failures.

Kurt lie #2
he local banks create the money on the spot and are not compensated from the Fed. It is not a loan!

BS and nonsense, more of your usual.

Kurt lie #3
The trial transcript of Walker Todd on the witness stand in the scammer's trial made this clear as a matter of fact validated by his nearly 20 years of experience at the Fed window.

Another lie, Todd got up and sold you down the river, just as he has done at every trial his dog and pony show has been trotted out at. Todd has never once uttered, under oath, in court any of the nonsense he sells to the dim and bewildered for the simple reason he knows it would be a one way ticket to disbarment and jail for fraud.

Kurt not knowing what he is talking about
Mortgage lending involves a large number of financial institutions some of which have nothing to do with the Fed or FD1C.

This is the only true statement you have made so far.

They may have a “warehouse line of credit”, but it is because they have assets to back it up. And then you wander off into more delusion and lies. If the lender puts up the PN’s they hold for mortgages, they also put up the mortgages as well, and as such, the bank has a secured interest in those mortgages and PN’s until the LOC is paid back, but the PN’s are not deposited with the banks, and they remain with the lender under a security agreement. And again, another lie, the PN’s do not end up on the bank’s ledger and do not fund the transaction. They are the security that is pledged for the transaction, but they still remain with the borrower, not the bank.

The rest being more nonsense than is worth bothering with, and still being total fantasy.

With all the spare time you have on you hands Kurt, one would think you could at least find better quality drivel to plagiarize, but then that is what got you in this mess in the first place wasn't it. I'm still curious about who you stole the stuff from to begin with.

sopsback said...

i mean you need one taht the really get the pubic attention.


like how bout jsut creating a story abut some trader stealing like

$700,000,000,000,000.00

maybe taht would do it?

maybe not, as todya 99.9% of pubic is walking around honconxious...

LOLOLOLOOL!!!!!!!!!!!


oops! we do have those that stoled that much.

they called "polytishins"


LOLOLOLOLOLO!!!!!!!!!!

sopsback said...

so tahts why i could find a certain case??





The ‘when’ and the ‘who’ of it should be obvious. For most of us, there is no time to do a ‘mass resignation’. One cannot do what one cannot personally support one’s self in their ‘courts of law’, which are commercial ‘zone’ trading pits, operating in admiralty=maritime under ‘law of the Sea’ proceedings. They are hybrid courts which integrate common law, Roman ‘civil’ law, equity law, contract-commercial law. And, it is all ‘municipal’ and private law. Go look in the front of any law book that is published for use by attorneys, judges, etc. and you will find it is all copyrighted. That is why they can try to remove the books from county law libraries, public libraries, etc. That is why their ‘judges’ meet behind closed doors in ‘conferences’ to discuss and agree on ways to impede our understanding and use of their ‘law’,









That is why they

[can try to ]

remove the books from county law libraries, public libraries, etc. That is why their ‘judges’ meet behind closed doors in ‘conferences’ to discuss and agree on ways to impede our understanding and use of their ‘law’,

sopsback said...

Unless the sky falls on the ‘heads of state’ which will be meeting tonight in DoC for another gleeful round of the STATE OF THE UNION, all deposits are property of any U.S. bank as soon as conveyed to the bank for further disposition. Bank ‘policy’ and U.S. banking or other ‘applicable law’, including Executive Orders, etc. take control and precedence. You, as a real man and serving the U.S.-DoC as a ‘public official’ or ‘officer’ thereof, have only a ‘duty’ or an obligation to perform. By conveying your funds to the bank under current regime ‘law”, one is presumed to have ‘volunteered’ or ‘elected’ to place those funds into their System as it exists.

All banks are U.S. chartered, are ‘instrumentalities’ of Congress, and the DISTRICT OF COLUMBIA, and are ‘corporate citizens’ having the same ‘federal character’ and nature as the U.S. Social Security-Department of Treasury-IRS Administrative Agency, which is the ‘U.S. PERSON’ FRANCHISE TRUST, which you are always executing or transacting fussiness for. It is the NAME of record appearing on all accounts in commerce which you have ever conducted business on and for by your signature-Bond. The System is pre-set to steal or convert your funds, Wanta’s funds, etc., because the System w

sopsback said...

YO, JUDZ BEEM, YO PAYIN ATTENTIN!

YO CORT IS A SCAM,I MEAN SHAM!


IT SAY SO RITE HERE:



This is the underlying and little understood factor which Mr. STORY HAS NOT YET TOUCHED ON IN ANY DETAIL. He and others want to affirm the Rule of Law in the UNITED STATES is still in tact and means something in today’s terms, but which predates the Civil War. I would love to assume that to be true, but I do not, because everything that is done by and in the name of the UNITED STATES today is out of context to the organic Constitution as a matter of historical and current fact and law. And, we can prove it, if we were given access to an actual Article III ‘district court of the United States’ with an actual ‘Article III’ Judge presiding, instead of taking our causes and claims into their Article IV or Article II courts called United States District Courts, which have no true Article III judges sitting. One cannot take these material issues of fact even to the “highest court in the land”, and have them adjudicated under Article III constitutional standards. The US Supreme Court is a

sopsback said...

So, their system as it exists presently, is already set up to receive and accept new ‘specie’ funds via ‘access’, ‘activation’, ‘deposit’. It doesn’t have to do anything different than what it already does, because the slave-grid system was set up to operate this way since at least 1912-13 with the creation of the FRBS, and then perfected during 1931-1934. You or I cannot change the nature of the BEAST from the bottom up, at this point. Only individuals who know what they are doing within a specific venue and action can hope to achieve any ‘remedy’ or ‘relief’ to some of what I write about. Even then, it doesn’t change the System, it only compels the System to treat them differently as whole person and real man. They System is not designed to deal with or ‘see’ the real. It is a fiction system and compels or forces everyone to conform to it, and to become a fiction character themselves.

sopsback said...

PAY ATTENSIN!






Only individuals who know what they are doing within a specific venue and action can hope to achieve any ‘remedy’ or ‘relief’ to some of what I write about. Even then, it doesn’t change the System, it only compels the System to treat them differently as whole person and real man






SO, NO WHA YO ARE DOON!!!

sopsback said...

They System is not designed to deal with or ‘see’ the real. It is a fiction system and compels or forces everyone to conform to it, and to become a fiction character themselves.

sopsback said...

In closing, I would like to say that because there is so much controversy about whether notices are in fact in process of being delivered, or payments are being made, etc. etc., I have no more to say or offer. I am so set by my own core values and righteous ideals, I can see no way that I would ever chose to willingly go into any U.S. bank to elect to do business with them.

Yetter said...

BEANISM. "Im not going to prison, you are." Impressive.It seems your just another species of squaliformes with a license.

Scott from Vineland said...

sopsback said...
I am so set by my own core values and righteous ideals, I can see no way that I would ever chose to willingly go into any U.S. bank to elect to do business with them.
___________________________________
And there it is... the point that so many of us have been trying to make for so many months. If you hate the system so much, why do you participate in it? And don't say that you're FORCED to... I've seen plenty of people who operate on a cash-only basis. (Although it's usually because they CAN'T get credit or a checking account.)But it CAN be done, if you're morally committed to it. I invite every bank-basher out there to withdraw from the system. If it puts me out of a job, so be it. I will find another means to feed, clothe and shelter my family.

habakkuk said...

Scott from vineland says....

And there it is... the point that so many of us have been trying to make for so many months. If you hate the system so much, why do you participate in it? And don't say that you're FORCED to... I've seen plenty of people who operate on a cash-only basis. (Although it's usually because they CAN'T get credit or a checking account.)But it CAN be done, if you're morally committed to it. I invite every bank-basher out there to withdraw from the system. If it puts me out of a job, so be it. I will find another means to feed, clothe and shelter my family.
___________________________________

So the fact that you continue to do business with the bank means that you are a 100% supporter of the system and the way business is conducted....right?

sopsback said...

yes, i will tell my brother who doesnt really like the systme either, that wehn he sell his house, make shure to take the $300K in all cash.

just tell the bank to back up the brink trunck.

OLOLOL!!!!!

but also make sure that yo got a layer with yo too.

casue even if the moeny is legal and legit, you try take $300K out of bank in cash, you can bet there will be a homeless secutiry agent there right with you to make yo proof where yo got the moeny.

he wank in too late to see the bank give it to yo.

maybe he thing it a holeup, and even he shoot yo too!


OLOLOLOLOLOL!!!!!

sopsback said...

he wank in too late to see the bank give it to yo.


i meant walk in too late.

but,then again, with homeless scrutiny, maybe it is "wank in to late"


LOLOLOLOL!!!!!!!!!!!1

Scott from Vineland said...

habakkuk said...
So the fact that you continue to do business with the bank means that you are a 100% supporter of the system and the way business is conducted....right?
___________________________________
No, it means that for me the benefits of the system outweigh the imperfections of the system. And, as hard as this will be for you to believe, I don't say this simply because I work for a mortgage company. When I bought my house in 1991, I did not work for a lender. But I'm glad that a certain now defunct lender was agreeable to loan me the money. Otherwise, I would have thrown away almost $100K on rent over the last 16 years. Instead I have 60 or 65 percent equity in my humble little house. Should I have more? Probably. But I'm not complaining. Life is good.

Scott from Vineland said...

sopsback said...
yes, i will tell my brother who doesnt really like the systme either, that wehn he sell his house, make shure to take the $300K in all cash.

just tell the bank to back up the brink trunck.

OLOLOL!!!!!

but also make sure that yo got a layer with yo too.

casue even if the moeny is legal and legit, you try take $300K out of bank in cash, you can bet there will be a homeless secutiry agent there right with you to make yo proof where yo got the moeny.

he wank in too late to see the bank give it to yo.

maybe he thing it a holeup, and even he shoot yo too!


OLOLOLOLOLOL!!!!!
___________________________________
OK, let me if I understand here... are you saying that it might be unsafe to carry $300K in cash out of the bank? Or to keep that much cash in your home or place of business? Maybe we agree on something, SOP. Hmmm, what to do?

Scott from Vineland said...

I suppose I could put it in the bank... no, wait....

sopsback said...

are you saying that it might be unsafe to carry $300K in cash out of the bank?



LOLOLOLOOL!!!!!!



forget about when you are out of the bank, its when you are still in it tahts not safe.

jsut try to walk out of a bank, with $300K assuming that yo had than much in it.

youll never see the money, even if you just sold your house and deposited teh cleard check 3 weeks ago.

all kinds of bells and whistles will go off.

for that kind of cash money withdrawl, you may even get "celebirty status"

by that means like anthing else, get to meet more than jsut the bank pres. but the chiefs of

homeless insecurity in person.

you might get to meet...ATF, FBI, ICE, i forgot any?



OH, YES, ALMOOST FORGOT, YOU MIGHT EVEN GET TO MEET THAT CLONED BUY, WHO CONTROLS ALL THE BANKS...WHAT HIS NAME??

SHOOT...CANT REMBER...BUT HE LIKE FROSTY THE SNOWMAN...HE SUPPOSE TO BE DAID, BUT HE COME BACK TO LIFE AND STILL RUN THE TREASURY...

YES, FO $300K, YO CAN MEET HIM IN PERSON, MAYBE SMOK A CIGAR TOGHTER TOO AND A SIFTER OF COGNAC, ONLY THE GOOD STUFF THO...AND TALK ABOUT TRILLIONS LIKE A BIG TIMER...HMMMM GOOD!

LOLOLOLOLO!!!!!!!!!!!!!

sopsback said...

they all jus all bunch of "wnakers"



LOLOLOOLOL!!!!!!!!!!!!!!!

habakkuk said...

"No, it means that for me the benefits of the system outweigh the imperfections of the system."

SO THAT MEANS YOU PERFECTLY FIT THE DESCRIPTION OF THE PEOPLE THAT MOREPHEUS DESCRIBES IN THE MATRIX. "DEPENDANT ON THE SYSTEM"

REMEMBER, AS CHRISTIANS OUR SOURCE AND BENEFITS COME FROM THE FATHER AND NOT THE SYSTEM. WE ARE IN THE WORLD BUT NOT OF THE WORLD.

___________________________________

"Otherwise, I would have thrown away almost $100K on rent over the last 16 years."

BY THE WAY, THIS IS NOT ALWAYS THE CASE...I'M SURE YOU'VE LOOKED CLOSELY AT THE TRUTH-IN-LENDING FORM THAT SHOWS YOU WHAT YOU PAY IN INTEREST OVER THE LIFE OF THE LOAN..RIGHT? AND I'M SURE YOU'RE AWARE THAT MOST OF THAT INTEREST IS PAID ON THE FRONT END RIGHT? AND I'M SURE YOU'VE EXPERIENCED PAYING OUT A LOT OF MONEY TO MAINTAIN YOUR HOME. AND I'M SURE YOU KNOW WHAT YOU PAY IN PROPERTY TAXES EVERY YEAR. ETC, ETC.
___________________________________

"Instead I have 60 or 65 percent equity in my humble little house."

COME UP HERE TO THE DETROIT AREA AND TALK TO ALL THE FOLKS WHO ONCE HAD 65% EQUITY...THEIR LUCKY TO HAVE 15% EQUITY NOW....THANKS TO OUR WONDERFUL SYSTEM. BY THE WAY, HOW CURRENT IS THAT 65% EQUITY FIGURE?....IT SEEMS TO BE PLUMETING IN MOST OF THE COUNTRY. YOU MAY WANT TO GET SOME CURRENT COMPS.

Scott from Vineland said...

habakkuk said...
REMEMBER, AS CHRISTIANS OUR SOURCE AND BENEFITS COME FROM THE FATHER AND NOT THE SYSTEM. WE ARE IN THE WORLD BUT NOT OF THE WORLD.
___________________________________
True enough Hab. We do have to live in this world though, until our appointed time. We have certain physical needs while we're here (that food clothing and shelter I mentioned). God has always provided for me and my family... maybe that's why I am content with the situation as it is.
___________________________________
BY THE WAY, THIS IS NOT ALWAYS THE CASE...I'M SURE YOU'VE LOOKED CLOSELY AT THE TRUTH-IN-LENDING FORM THAT SHOWS YOU WHAT YOU PAY IN INTEREST OVER THE LIFE OF THE LOAN..RIGHT? AND I'M SURE YOU'RE AWARE THAT MOST OF THAT INTEREST IS PAID ON THE FRONT END RIGHT? AND I'M SURE YOU'VE EXPERIENCED PAYING OUT A LOT OF MONEY TO MAINTAIN YOUR HOME. AND I'M SURE YOU KNOW WHAT YOU PAY IN PROPERTY TAXES EVERY YEAR. ETC, ETC.
___________________________________
I understand perfectly how a 30-year mortgage amortizes. Yeah, it's a raw deal on paper. That's why you don't borrow more than you can afford and you pay extra against the principal to shorten the term. It works.
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COME UP HERE TO THE DETROIT AREA AND TALK TO ALL THE FOLKS WHO ONCE HAD 65% EQUITY...THEIR LUCKY TO HAVE 15% EQUITY NOW....THANKS TO OUR WONDERFUL SYSTEM. BY THE WAY, HOW CURRENT IS THAT 65% EQUITY FIGURE?....IT SEEMS TO BE PLUMETING IN MOST OF THE COUNTRY.
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Market is going through some correction here as well but we haven't lost that much yet. I realize it's very bad in some areas. I'm sorry to hear you're in a hard hit real estate market. But you gotta ride it out, man. Things will ultimately rebound... they always do. People who panic are the ones who lose big. And if it DOESN'T rebound this time, consider the sparrows, Hab. Or the lillies of the field. Where are our riches anyway?