Ok, Impress me......I tuned in...so I got like a quick Mini blog

Annie and Mike fighting about the Iraq war (Hey there is something new!)
9:50, commercials...is there a Radio word for Self Commercials?
Fred selling athletic trainers and correcting person who wrote his copy.
(Why is Fred promoting exercise? shouldn't he be selling Pizza?)
Speedway Breakfast? (I guess its all gas)

Assuming I will hear 10 mins of commercials, then Mike thank the luninaries that he had on the show. (can't wait to hear who todays guest are?) Maybe a Frankie someone who sang some song in 1965 that was big?

HAwaiian! A Tom Shaer Commercial! for the Sloan Vision center. (what a pud that guy was)

Not joking, commercial# 14....lol...I know gotta pay the bills! I really never cared how many commercials, except the scam commercials that try to rip people off, like "Buy a house, no money down!"

9:59 AM Joe Borchard Career highlight, might be funny

DOUG BUFFONE! and MULLIGAN! Great Bears Talk! Too bad it's Baseball Season!

Mike, talking sports with guys who know Sports in the transition, it's such a simple formula that worked for so long. It's not rocket science what people like.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

nazz - as my old coworker jerry riles would say - i mean my old neighbor since i dont work there - take it easy!

Nostradamus,
Lots of young people buy with no money down, but I would say it can be pretty creative. People who know more than me would say we are all heading for a disaster when rates go up and the BS equity loan with the floating rate rockets up and the BS balloon comes due. There could be a lot of condos on the market in a hurry.

But what about these commercials? I'm starting a new thread right now.

The creative part comes in where the buyer needs say $10,000 down with the mort. We all pretend that the condo is worth $10,000 more than he contracted to pay (you know, values spiraling up and all that)so he can take a home equity loan as soon as he buys it and put that down as the down payment.

Lenders tolerate this because they want to make loans. I think this qualifies as creative, and dangerous for buyers, who do tend to be young.

It's not uncommon for a buyer to over-borrow and leave the closing with a check for a couple thousand for furniture. Smarter people than me see this as a problem. To me it just seems strange.

I think I speak for most posters here: I want to thank those in this thread for finally finding something good and helpful to discuss in the MNMS thread.

Nas, please barking up wrong tree

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Nas, you are either naive or acting as such because you either have to or want to promote agressive financing products, which is fine as far as I am concerned. I'm going to assume for a minute that you are, in fact, naive and let you tinker with numbers on your own and hopefully share some with the rest of the class.

Start with a mortgage product and figure the payments on it. Then figure how does it break down between the principal and interest. Once you got that, come up with county taxes on the property. Now, that you have all your cash outflow components at hand, determine (or assume) the hypothetical borrower's effective tax rate. Now, reduce the interest portion of the payment and the real estate tax (prorated monthly) by that effective tax rate. Add the reduced numbers together and also add the amount of assessments, if any. Look at the amount that you came up with and see if it's enough to rent a home of comparable size/convenience. If the answer is yes, and there is some principal in the mortgage payment, consider renting and piping the amount, that you would otherwise have paid as a principal, into your 401(k) or some growth mutual fund.

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"It's not exactly a rocket surgery." D.J.

[quote="nastradamus"]buying within your means[/quote]

That's the keyword. 106% loan to value - is way outside of "means" any way you look at it. So are many other products that expand the definition of "means." I am not bashing your reasoning that owning is good. What I am trying to articulate is that in many instances where you expand the "means," by altering the language in what would have otherwise been a simple note, the math will in fact work out in favor of using the equity portion of your periodic payments to fund a retirement account or a small portfolio.

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"It's not exactly a rocket surgery." D.J.

That's the keyword. 106% loan to value - is way outside of "means" any way you look at it. So are many other products that expand the definition of "means." I am not bashing your reasoning that owning is good. What I am trying to articulate is that in many instances where you expand the "means," by altering the language in what would have otherwise been a simple note, the math will in fact work out in favor of using the equity portion of your periodic payments to fund a retirement account or a small portfolio.

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"It's not exactly a rocket surgery." D.J.

I'd like to know where these $100,000 houses at and $700/month apartments are located?
North Dakota?

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@audioidkid

$700 apartment, tough to find and even tougher to live in, but they exist. $100,000 houses... I have seen some up for sale in Fuller Park a couple of years ago. But you had to have another $100,000 ready in cash to do the fixing or some 3,000 to raise it and a trailer to use the lot for.

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"It's not exactly a rocket surgery." D.J.

i see....

so, $100k houses that one would actually want to live in, don't really exist then....except in North Dakota.

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@audioidkid

you mean south of I-80? no way...that's too hillbilly for me.

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@audioidkid