Any of you ET'ers getting a bailout next year?

Discussion in 'Economics' started by peilthetraveler, Dec 17, 2008.

  1. For buying a house during this time? You get up to 7,500$ for buying a house and putting at least (i think 3-5% down). I'm getting one next year! Dont know what i'll do with it...maybe stick it in my trading account and see if i can turn it into enough to pay off my house in 15 years. :p
  2. I'm a strawberry picker from Mexico who makes 14k a year but was able to buy a 650k house, so what do you think?
  3. You are aware that if you take the credit you have to pay it all back over 15 years ?
  4. Lucrum


    Pay it back or what?

    They gonna give me another bailout?

    Yeah that will teach me not to borrow.


  5. Or what ?

    You ever hear of levy by the irs ?
  6. I spoke with a few, the proud, credit worthy friends who have locked in refinancing at 4.75/fixed 30 years today, waiting for lower, each realizing $100/month+ at least $200 month in lower gas costs. That far exceeds any rebate check over a year.

    And I know several real estate investors with adj loans that adjust to 5 year treas index +300 bps this year. Basically putting and extra $40,000/yr in their pocket cash flow wise, so yes some are getting a bailout.
  7. Unfortunately yes, i am aware of that. But as you know $7,500 today is worth alot more than $7,500 will be in the year 2023. An interest free loan is not even really debt, (unless i was going to blow it on a 70 inch plasma TV & and a new PS3 with 50 games) Then it would be like going into debt. No, i will put this money maybe into my IRA for next year or something.