BOA Cutting 16,000 jobs

[QUOTE=roseberry;1012606]

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Originally Posted by menmon

Nations housing starts are growingnow start watching as the enconomy starts really growing with Obama leading the charge!!!!!!!!

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Originally Posted by menmon

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he is correct again!!!! i just sold a spec home to a couple last month. i had it listed and got full price offer for $169,900(if i paid closing costs of ~$3,000 obviously). in todays market it only appraised for $166k, so i countered to accept $166 and not pay closing. realtor came back that it was a deal killer since couple had no money to "put down" and were financing 100%. i liked the kids and had no other interested buyers so i took the hit for the $3.900 just so i wouldn't have to mow the damn yard again.

i bet you can't guess where they are getting 100% financing, no money down, with not one dollar in the bank between two working adults..............did you guess yet?..............was it a conventional loan from a bank?..........was it a private lender...........did i owner finance.........no.....it is a U.S.D.A rural development loan. i wonder how many of these pre bubble burst type loans it takes to get the "housing starts" and "sales of new homes" numbers where hussein needs them prior to november. watch it growwwwwwwwww, POW, and burst again! hope i know when to get out this time;-)

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I'll add that QEIII is pumping in 40 to 80 billion A MONTH into bonds so that the housing economy can improve. What a joke! More borrowed money to bail out bad home loans.

Actually USDA home loans along with VA home loans are performing better than either Conventional or FHA even though they both require down payments! The underwriting guidelines for both VA and USDA are clear, concise and common sense oriented. They definitely are NOT bubble burst type loans.

QEIII is definitely a big mistake.

[QUOTE=roseberry;1012606]

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Originally Posted by menmon

Nations housing starts are growingnow start watching as the enconomy starts really growing with Obama leading the charge!!!!!!!!

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Originally Posted by menmon

QUOTE][/B]


he is correct again!!!! i just sold a spec home to a couple last month. i had it listed and got full price offer for $169,900(if i paid closing costs of ~$3,000 obviously). in todays market it only appraised for $166k, so i countered to accept $166 and not pay closing. realtor came back that it was a deal killer since couple had no money to "put down" and were financing 100%. i liked the kids and had no other interested buyers so i took the hit for the $3.900 just so i wouldn't have to mow the damn yard again.

i bet you can't guess where they are getting 100% financing, no money down, with not one dollar in the bank between two working adults..............did you guess yet?..............was it a conventional loan from a bank?..........was it a private lender...........did i owner finance.........no.....it is a U.S.D.A rural development loan. i wonder how many of these pre bubble burst type loans it takes to get the "housing starts" and "sales of new homes" numbers where hussein needs them prior to november. watch it growwwwwwwwww, POW, and burst again! hope i know when to get out this time;-)

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Talk about slapping a gift horse in the mouth. I didn't see you standing up and saying folks you should not finance 100%.

Another week another dismal Job Report. Obongolo remains helpless in the fight to stem the unemployment debacle. Thats forty three straight months of unemployment over 8%. What a failure the Kenyan Clown has been. menmon your still drinking the Obongolo Kool Aide. Not only that you can go blind for what your doing!

Houston is on fire....lots of jobs. He is good for us.

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Originally Posted by BonMallari

Berkshire Hathaway is the largest shareholder in Wells Fargo....don't know about BOA....

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BA received 10 Bil on preferrred note loan @ 10% - with significant warrants to purchase stock @ a strike price of around $8 - I would have loaned on those terms - But that's a typical WB investment - only good for BRK

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Originally Posted by gmhr1

It means the President is doing a lousy job on his recovery plan!

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Recovery plan for what? A Republican President who failed? Obama is doing a lousy job of cleaning up a Republican President's mess? I agree to all the questions I asked, Obama is doing a lousy job of cleaning up the mess that a Republican President put us into. A Rock and a Hard Place comes to mind for the up coming election.

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Originally Posted by menmon

Houston is on fire....lots of jobs. He is good for us.

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Houston, like my little town is based on oil and medical. Only recently has the current administration started issuing drilling permits because of the election. The question remains, if Obama wins will he continue to allow for the issuing of drilling permits?

Whoever the next President is should take Boone Pickens advice on energy. We have enough in reserve to discontinue importing oil from the mideast today. We have the largest natural gas reserves in the world! Because no President has ever put forth a real energy plan, our vehicles are still powered by gasoline instead of natural gas. Electric cars are a folly. Natural gas is the future of transportation! Possibly combined with hydrogen but, natural gas first!

The recovery Obama says we are in don't you know the economy is great, jobs are added the middle east loves us, life is wonderful. Thats what we hear every day. Who's Obama going to blame when he takes over ? some guy named Barack that had the job before him. We have been in a hard place lets give the rock a try really cant get any worse and maybe some things will improve.

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Originally Posted by gmhr1

The recovery Obama says we are in don't you know the economy is great, jobs are added the middle east loves us, life is wonderful. Thats what we hear every day. Who's Obama going to blame when he takes over ? some guy named Barack that had the job before him. We have been in a hard place lets give the rock a try really cant get any worse and maybe some things will improve.

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It could get worse, four more years of Bush would be much worse than four more years of Obama, lets hope Romney isn't like the previous Republican President.