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Radical bailout plan has a jawdropping price tag
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[QUOTE]Originally posted by BooDog: [QB] [QUOTE]Originally posted by glassman: [qb] [b]. The only deal he could come up with was trying to get our monthly payment up by about $50 and putting the bulk of the loan at the tail end – I call this the balloon payment so if I’m wrong please correct me. [/b] that would be a balloon. but the real point is that the jeep wasn't in your budget to begin with. you didn't buy it (good), but the idea of getting a balloon note on property that depreciates rather than apreciates is rather novel IMO... suppose it had been a house, and you were one year from retiring from the military with a good job lined up? you know you are going to increase your salary by 2x? it would not seem like a bad idea in normal times... i agree we have hit the bottom. the question now is how badly the banks lied about their mark to market assets. that is IMO, why they are not lending very much yet. they lied about how much assets they had and now they have to buld up their assets before they can begin lending as much as they need to again... [/qb][/QUOTE]"the question now is how badly the banks lied about their mark to market assets." Yes that is the big question. No one trusts anyone. [/QB][/QUOTE]
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