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January 12th, 2009 at 6:23 pm
So… if I subscribed to the daily updates via email already, would this have been the daily update? Kind of like a mirror looking into a mirror. Or something.
Love the blog… very useful…
January 12th, 2009 at 7:36 pm
It would have been part of it.
I’m working with getting a better email provider, but it’s taking longer than I anticipated.
January 12th, 2009 at 8:44 pm
I just got approved for a HELOC through Wells Fargo for $20,000. My wife and I both have good credit, around 700, combined annual income of $300k, at our jobs for 10+ years, have no debt, and we put down $108k on a $578k condo and it lists on Zillow for $609k. Our interest rate on the HELOC is 11.25% and we were told that is a good rate from the bank. What gives?
January 12th, 2009 at 9:42 pm
For some reason the posting did not work for me today, or yesterday, cannot remember.
January 13th, 2009 at 2:30 pm
I heard somewhere that the banks can’t just freeze your heloc because “in general prices have gone down” for residents in California. I understand that they must have proof that your house has gone down in value.
Well, I live in California, and sure enough, they froze my 100k heloc before I could do what is described above.
Anybody hear that banks aren’t suppose to freeze in California?
January 13th, 2009 at 8:23 pm
I am 35, with non-working spouse and kid, with house bought on cash and no debt other than cash back credit cards. Have a heloc of 80% of my house value with current rate of 2.25%. Still debating if I should take it and invest in dollar saving direct @4% savings rate. Could make over $2k per-tax with it. If I borrowed money when I bought house 2 years back, I would have seen all savings depreciated in stock market. Now, I have some cash buffer and can invest in cheap stocks. But borrowing to invest additionally, does not seem so smart … Please weigh in with arguements — I realize I am leaving too much money on the table in interest rate difference