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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:02 AM Original message |
usury: when banks make you pay the interest first so the principal never goes down |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:06 AM Response to Original message |
1. This will never happen and defies economic logic. |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:30 AM Response to Reply #1 |
19. In Japan deflation is so bad they are renting multimillion dollar condos for 100 yen (1 US dollar) |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:35 AM Response to Reply #19 |
23. That's a rather wild claim. |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:37 AM Response to Reply #23 |
25. sorry had to find it... |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:39 AM Response to Reply #25 |
26. Ah. First month's rent. Teaser rents aren't uncommon. |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:45 AM Response to Reply #26 |
30. Except no one's biting... |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:46 AM Response to Reply #19 |
53. You won't find a lender that allows your note payments to only reduce principal. |
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Hannah Bell (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:08 AM Response to Reply #1 |
45. it *is* happening, has been for some time. |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:12 AM Response to Reply #45 |
47. No, it isn't. The OP proposes the note payments should cover principal first. |
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Hannah Bell (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:20 AM Response to Reply #47 |
51. whatever you say, all-knowing one/ |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:28 AM Response to Reply #51 |
52. Loans require payment of interest before principal reduction. |
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Dorian Gray (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 07:34 AM Response to Reply #51 |
66. Interest only |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 08:38 AM Response to Reply #51 |
69. Which is the EXACT OPPOSITE of what OP is proposing. n/t |
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karynnj (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:09 AM Response to Reply #51 |
75. Wht the OP described IS an interest- first (in fact an interest only) mortgage |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:24 AM Response to Reply #75 |
111. your first error is the assumption that the OP is making any sense at all |
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karynnj (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:50 PM Response to Reply #111 |
143. Smart moves on your part! |
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AnArmyVeteran (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 06:16 PM Response to Reply #51 |
145. If done HONESTLY, interest & principal would be paid EQUALLY the life of the loan. |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 06:29 PM Response to Reply #145 |
147. You can do that. |
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AnArmyVeteran (1000+ posts) Send PM | Profile | Ignore | Tue Oct-19-10 03:48 PM Response to Reply #147 |
149. I know you can repay a loan that way, but INT & PRINCIPAL should be the same. |
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dkf (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:08 AM Response to Original message |
2. If you want the principal to go down just pay extra. |
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girl_interrupted (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:10 AM Response to Original message |
3. +1,000,000 |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:20 AM Response to Reply #3 |
9. Interest is the charge for loss of use of the money loaned. |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:29 AM Response to Reply #9 |
17. Lose my receipt and I can't return stuff to Walmart either |
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kenfrequed (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:51 AM Response to Reply #9 |
34. right... |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:53 AM Response to Reply #34 |
35. +1 |
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tammywammy (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:53 AM Response to Reply #34 |
36. Your monthly payment is BOTH principle and interest |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:56 AM Response to Reply #36 |
37. The interest payments have never gone down |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:57 AM Response to Reply #37 |
40. They'll go down dramatically near the end. nt |
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tammywammy (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:07 AM Response to Reply #37 |
44. Well I have a standard 30 year fixed mortgage |
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Thav (336 posts) Send PM | Profile | Ignore | Mon Oct-18-10 07:33 AM Response to Reply #44 |
65. If you change to bi-weekly payments |
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AnArmyVeteran (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 06:23 PM Response to Reply #44 |
146. What you said is correct, but... |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 08:54 AM Response to Reply #37 |
72. The interest is less on EVERY single payment |
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karynnj (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:26 AM Response to Reply #37 |
81. I think you are confusing the "interest" payment with the "mortgage" payment |
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Sherman A1 (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 02:52 AM Response to Reply #36 |
56. Precisely |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:57 AM Response to Reply #34 |
39. You do pay both. |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:20 AM Response to Reply #34 |
50. They allow you to pay all the principal you want. |
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karynnj (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:20 AM Response to Reply #34 |
78. That makes no sense mathematically |
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Xenotime (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:54 PM Response to Reply #34 |
120. Well said! Excellent point. |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 02:55 PM Response to Reply #34 |
129. All lenders DO give you that option. It is called paying more than the minimum. |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:35 AM Response to Reply #9 |
59. No it isn't. Without the loan there is no money to use. |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:05 AM Response to Reply #59 |
97. You keep thinking that. It's not correct, but why educate yourself? |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:34 PM Response to Reply #97 |
115. I and every student subjected to an economics curriculum. |
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Xenotime (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:58 PM Response to Reply #115 |
122. +1 Excellent. |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:02 PM Response to Reply #122 |
140. It's funny/sad that all of my economics professors (3 years of them) agreed that I understand |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:08 PM Response to Reply #115 |
124. I know you think you understand it, but you don't. |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 02:51 PM Response to Reply #124 |
128. The Great Double Whammy of the man with no argument. Attack the poster and try to change the topic. |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 02:57 PM Response to Reply #128 |
130. Except the loss is more on default at $10M. A flat fee based bank would reward large borrowers |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 03:27 PM Response to Reply #130 |
133. That's right and that is why the government was initially given control of our monetary system. |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 03:03 PM Response to Reply #128 |
132. A charge off and a tax write off are not the same. |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 03:30 PM Response to Reply #132 |
134. Never said they were the same thing. Please continue... |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 03:35 PM Response to Reply #134 |
136. I've covered the topic. You've covered your misconceptions. |
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tammywammy (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:13 AM Response to Original message |
4. Part of my mortgage payment goes to principle each month. |
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Tess49 (606 posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:18 AM Response to Reply #4 |
7. Mine, too. It has always worked like that. |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:20 AM Response to Reply #4 |
10. Exactly. |
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tammywammy (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:21 AM Response to Reply #10 |
12. Yep. ;) n/t |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:50 AM Response to Reply #10 |
91. Especially early on. |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:42 AM Response to Reply #4 |
86. Same here, in fact over 2/3 of my last payment went to principle |
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gratuitous (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:14 AM Response to Original message |
5. Nope |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:20 AM Response to Reply #5 |
11. Let them settle with all the homeowners whose mortgages are lost |
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gratuitous (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:39 AM Response to Reply #11 |
112. Check your mortgage |
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datan (59 posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:16 AM Response to Original message |
6. check your maths |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:26 AM Response to Reply #6 |
14. Ah...so usury |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:29 AM Response to Reply #14 |
18. Check your dictionary. |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:31 AM Response to Reply #18 |
20. Exactly how they lost their farm in the Depression |
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wickerwoman (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:57 AM Response to Reply #20 |
61. Sorry, but |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:44 AM Response to Reply #20 |
103. Then don't borrow money to pay for what you want to buy. |
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Bluenorthwest (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:27 AM Response to Reply #18 |
82. Actually, the primary definitions of usury are not about 'legal' |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 02:12 PM Response to Reply #82 |
127. The only definitions that matter are the legal ones. |
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datan (59 posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:37 AM Response to Reply #14 |
24. no |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:40 AM Response to Reply #24 |
27. Well it's a lot of money, and one should keep their books straight don't you think? |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:53 AM Response to Reply #27 |
105. If you're able to make your payments, there's no reason to demand your note. |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:57 PM Response to Reply #24 |
121. welcome to DU |
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MiniMe (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 02:10 AM Response to Reply #14 |
55. Your math is wrong |
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Xenotime (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:00 PM Response to Reply #14 |
123. Looks like a forumla for the rich to get richer to me. |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:18 AM Response to Original message |
8. That's not how interest works. |
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tammywammy (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:23 AM Response to Reply #8 |
13. Econ? I covered amortization in basic college algebra. n/t |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:27 AM Response to Reply #13 |
15. We dealt with it in a very simplified form in economics in high school. |
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tammywammy (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:32 AM Response to Reply #15 |
21. I don't remember much of my high school econ |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 03:53 PM Response to Reply #21 |
138. delete |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:27 AM Response to Reply #8 |
16. Losing my note is also not how it works |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:32 AM Response to Reply #16 |
22. Not giving squat for money is why you're so confused here. |
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datan (59 posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:42 AM Response to Reply #22 |
28. reasonable |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:46 AM Response to Reply #28 |
31. I signed the note and agreed to the deal |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:42 AM Response to Reply #22 |
29. My house is nearly paid off and I have relatively few debts |
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Codeine (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:47 AM Response to Reply #29 |
32. I'm also not a fan of corporate greed. |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:51 AM Response to Reply #32 |
33. I think the banks have made too much profit over the years |
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kelly1mm (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:57 AM Response to Reply #29 |
38. Upthread you stated that you have made payments but the principal |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:02 AM Response to Reply #38 |
42. Mortgage was refinanced as interest rates came down |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:09 AM Response to Reply #29 |
74. If your house is nearly paid off then it looks like a mortgage was a valuable and useful service. |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:17 AM Response to Reply #29 |
110. hate seems to be making you unable to reason properly |
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Bluenorthwest (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:34 AM Response to Reply #22 |
83. The OP's use of the word 'usury' is dead on correct |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:46 AM Response to Reply #83 |
90. 5% interest isn't excessive. |
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Dr. Strange (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:54 AM Response to Reply #83 |
93. Is 5% really usury? |
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Bluenorthwest (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:16 AM Response to Reply #93 |
99. I am talking about the word, not about the numbers |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:52 AM Response to Reply #83 |
104. Only in your head and the OP's head, which doesn't count. |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:03 AM Response to Reply #16 |
96. not caring squat for money isn't a good option. |
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TonyMontana (237 posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:18 PM Response to Reply #16 |
114. LOL |
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defendandprotect (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:59 AM Response to Original message |
41. Congress needs to return to USURY laws -- student loans used to be 6 year limit ....!!! |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:03 AM Response to Reply #41 |
43. The student loan money isn't even theirs and they charge exorbitant interest |
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tammywammy (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:08 AM Response to Reply #43 |
46. LOL, the govt charges around 7% on student loans. n/t |
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Generic Other (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:12 AM Response to Reply #46 |
48. So? They shouldn't. |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:09 AM Response to Reply #46 |
107. Well it is 4.5% now and tax decutible |
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defendandprotect (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:16 AM Response to Reply #43 |
49. Agree -- but kids and parents are paying these loans off after 20 years and more!! |
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struggle4progress (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:47 AM Response to Original message |
54. Does your mortgage agreement allow the lender to use one of those weird old |
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Turbineguy (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:02 AM Response to Original message |
57. The system during the past decade was based on |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:16 AM Response to Original message |
58. This is common practice in car loans, but in what state is this allowed? |
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exboyfil (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 07:22 AM Response to Reply #58 |
63. Good luck getting a loan for anything then |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:39 PM Response to Reply #63 |
116. How does this refute the definition of usury? |
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Gaedel (802 posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:10 AM Response to Reply #58 |
76. During medieval times..... |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:50 PM Response to Reply #76 |
118. And yet they ("eeeevull joooze") outlawed it in their Book. |
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old mark (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:40 AM Response to Original message |
60. This is very common practice with mortgages - we have ben trying to pay off our |
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NNN0LHI (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 07:46 AM Response to Reply #60 |
67. Can't you just send them a check for the remaining balance? |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 08:44 AM Response to Reply #60 |
70. Really why not just make really large payment? |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:45 AM Response to Reply #60 |
89. That's frustrating. I'd take an educated guess of the payoff amount, subtract $1, |
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old mark (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:50 AM Response to Reply #60 |
113. The payoff statement came in the mail today. We will have it paid off by mid November. |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:58 AM Response to Original message |
62. it is all money |
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ThomWV (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 07:30 AM Response to Original message |
64. That's not what Usury means, not today, not yesterday, never. |
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Bluenorthwest (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:36 AM Response to Reply #64 |
84. Dupe |
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Bluenorthwest (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:37 AM Response to Reply #64 |
85. Here is what it means: |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 08:36 AM Response to Original message |
68. If you want more applied to principle .... then pay more. |
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Mimosa (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 08:51 AM Response to Original message |
71. Informative topic! Thanks. n/t |
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karynnj (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:01 AM Response to Original message |
73. Where you go wrong is that you should pay more than $525 |
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Donald Ian Rankin (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:17 AM Response to Original message |
77. It should work however the contract you chose to sign says it works. |
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Yeshuah Ben Joseph (763 posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:20 AM Response to Original message |
79. The so-called "fundamentalist Christians" should be all over this. |
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taught_me_patience (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:21 AM Response to Original message |
80. 26 net recs shows the financial ignorance of many DUers |
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Bluenorthwest (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:43 AM Response to Reply #80 |
87. Usury has to do with taking excessive interest |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:53 AM Response to Reply #87 |
92. Calling 5% interest (2% above historical inflation) excessive and unfair is stupid. |
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Bluenorthwest (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:32 AM Response to Reply #92 |
101. No it does not. |
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Terry in Austin (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:14 AM Response to Reply #80 |
98. That's the story that usurers tell, anyway |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Tue Oct-19-10 04:25 PM Response to Reply #98 |
151. so then anybody with a savings account or who owns a bond |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:24 AM Response to Reply #80 |
100. Banks suck!!! |
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TexasObserver (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:02 AM Response to Reply #80 |
106. Sad, but true. |
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Gormy Cuss (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:43 PM Response to Reply #80 |
125. Or maybe the net recs reflect the interesting discussion and replies to the OP's assertion. |
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Mnemosyne (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 07:20 PM Response to Reply #125 |
148. I've rec'ed OP's for pure discussion value, not to necessarily agree with an OP. |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Tue Oct-19-10 04:14 PM Response to Reply #80 |
150. I agree, and it only got worse |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:43 AM Response to Original message |
88. If paying principle down is really important to you, get a 15-year loan rather than 30 |
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mainer (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:52 PM Response to Reply #88 |
119. You'd think it would be obvious, wouldn't you? |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 01:59 PM Response to Reply #119 |
126. Most young people enter the world of home finance with almost no knowledge |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:54 AM Response to Original message |
94. You're doing it wrong. |
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justanaverageguy (123 posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:59 AM Response to Original message |
95. A loan is an investment |
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gmoney (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:40 AM Response to Original message |
102. Most loans use the Rule of 78s - front loads interest at start of loan |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:13 AM Response to Original message |
108. I cannot believe this ridiculous post got 27 R's |
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county worker (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 03:00 PM Response to Reply #108 |
131. With that kind of reasoning is it any wonder we are going down the shit hole so fast? |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 03:50 PM Response to Reply #108 |
137. This is exactly why science uses, first so-called dead languages and now mathematical |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:01 PM Response to Reply #137 |
139. actually I knew that too |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:19 PM Response to Reply #139 |
141. I figured you probably did. |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:59 PM Response to Reply #141 |
144. we rarely agree on anything? |
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Egalitariat (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:15 AM Response to Original message |
109. Your example assumes 5% total interest, when every loan quotes the interest rate "per year" |
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Xenotime (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 12:39 PM Response to Original message |
117. Where are you getting houses for 50K? Most banks won't even write mortages that low. |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 04:34 PM Response to Reply #117 |
142. not true. My house was only #35,000 |
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Swamp Rat (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 03:34 PM Response to Original message |
135. k&r |
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