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I looked into Prosper a bit. Decided it was way too risky. Most of the prosper borrowers are somewhere between sub-prime and pay-day loan quality. Most the high quality borrowers reason for borrowing is "to invest in prosper". The main premise is invest small amounts in a lot of loans, to spread...

No idea if Georgia is a no-recourse state or not. There are some areas definitely being hit hard. I paid 207k with 5% down. A similar size house in my neighborhood that went REO for 160k recently. Two other neighbors selling for 210k and 215k and been on the market 90+ days. Rents in my...

Current loan maturity date: 08/2036 So with the first option, my new maturity date would be 02/2033. My FICO is up from 680 when I first bought it in 07/2006. I was bitter renter from SoCal turned first time buyer. I had a good mortgage broker *gasp* who steered me away from a 5/1 ARM I...

My first mortgage lender , National City Mortgage, recently contacted me with a couple "no cost" refinance options: I currently owe 163k @ 6.5% on a 30 year fixed, 765 Fico, 27% DTI ratio, near Atlanta GA. (former SoCal transplant) 25 year fixed at 6.25% for 36 dollars more a...

You can get arrested: <a href="http://www.cbsnews.com/stories/2003/12/05/eveningnews/consumer/main587162.shtml">www.cbsnews.com/stories/2003/12/05/eveningnews/consumer/main587162.shtml</a>

Watch out for the fake cashiers check scam. Someone will send you 10k+ cashiers check, and want you to send 4k back. You will cash it, it will show up in your account and you will think it is all good so you send him the 4k. But 60-90 days later the bank will realize its a fake cashiers...

How come we haven't heard much about the Yen Carry Trade lately? Noticed the current exchange rate is 109 Yen per dollar today, which was supposed to be beyond the point the carry trade must unravel.

Bank run in Britain: <a href="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/14/bcnnorth414.xml">www.telegraph.co.uk/money/main.jhtml</a>