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10% gain of what? The house is underwater as it is.

Taking your ball 'n goin' home, eh? < teasing >

<< Maybe it's the main loan amt. >> Correct. Only the 1st TD gets recorded as being taken back by the bank. When the bank sells as an REO, they'll get as much or more from the retail buyer, depending on market conditions at the time of sale. << Those are the prices at which the bank...

graphrix, you stated in another thread that you don't use margin, eschewing same being ostensibly a conservative approach, when, in fact, you use options--themselves a leveraged play. What distinctions do you make when not using margin but waxing poetic about options?

It's sometimes difficult NOT to lose one's cool when statements like "the writer is confusing risk with leverage" are made (and seconded)--as if I don't understand that leverage is risky. They're practically synonymous. My initial statement was, if I recall correctly, "It's difficult to...

OK...Buffett and Gates are the exception. Looking at the list of Forbes 400, how many used leverage to get fabulously wealthy? Most of them. http://tinyurl.com/2mruka Many of the Forbes 400 have been willing to take gargantuan risks, sometimes a number of times, in order to realize...

morekaos, how about suggestions for put buys?

You guys are scarin' me. My money's in Wells Fargo. I think I'll inquire about Vanguard. Can I write checks against that type of account?

I'm surprised, too. I just shrug when people tell me their scores are over 800 or some stratospheric score like that. I know they've been to www.myfico.com or other "vanity" score supplier.

You're right, Gates is an exception. Microsoft's profit margin was unprecedented in all of business history.

<< My FICO is usually around 780-800 depending on the balance being carried on my credit cards. >> You probably do have that score on the consumer-oriented sites, but if you apply for a mortgage, your scores won't be that high.

Got a rate sheet from Chase after the Fed Funds cut. The add on (to fee, not rate) for jumbo conforming is 2.00 for purchase and--get this--3.00 for cash out in Orange County. Sickening. Why bother. (It's simply not possible to get as rich as Buffet, Gates and Trump without leverage.)

You don't have to be an active landlord. You can have all your properties professionally managed for a fee.

What is "SDS?"

None of the scores generated by consumer-oriented sites such as www.myfico.com are the same scores generated for use by the mortgage industry. All consumer-oriented sites generate scores that are higher than those generated by a tri-merge report provided by the 600+ "mini-CRAs" for use by the...

If you believe everything you read, here's a blow-by-blow of the past weekend and BSC/JPM. http://online.wsj.com/article/SB120580966534444395.html?mod=googlenews_wsj (It's not a bank if it's not leveraged.)

What does "IAC" mean?

Absolutely!

Amen, alan!!

I don't feel sorry for anyone, least of all the homeowner, who had no skin in the game, and still doesn't. The bank is taking it in the shorts, which is its comeuppance, but the subprime borrower is not a victim--far from it. If you reduce "victim" down to who lost the most money, for sure...