NPR: Millionaires and interest rates
I heard this on Morning Edition yesterday: people purchasing homes worth more than $417,000 are getting charged an interest rate "as high as" 7%, even though the rate for homes below that price are below 5%.
Let's all shed a solitairy tear for the upper-middle class professionals and wealthy who are not getting Gov't assistance.
If NPR wants to concoct sympathy stories over buying homes (which is nonsense, but let's stick with the faulty premise), they should give folks like me a call
The rate I got at end of October was 6.5% … after fighting six months to get a foreclosed home, I took it because I didn't have any leverage … I couldn't wait two months or more, waiting for the Fed to lower rates again. My funds were spent.
I called my Mortgage Company last week, knowing refinancing was out of the question because the loan is too new. I just wanted to hear what they had to say, since the Fed and MEDIA are pushing the importance of this rate cut.
I got Realtor Jr on the phone. He told me what I already knew. I listened and then said, "Wait a minute. You're getting tons of phone calls about this and your telling me there's nothing your bank can do for me? I know I'm not the only one out here, calling and asking about these interest rates (I was on hold for over 30 minutes, due to call volume – and their automated message even said, 'due to the Fed rates cut.') ."
Realtor Jr, while I was talking, pulled a Phil Hendrie on me, saying things like, "Mm, hmm," and "I understand" at completely inappropriate times. Actually, it was worse than the lady from the homeowner's association on the Phil Hendrie show. The guy kept talking over me, saying, "I hear you, man" and other platitudes.
I said, "You're not listening."
Realtor Jr panicked: "Oh, no! No…."
I may not have any leverage with some call center loan officer from the bank, but I can push the red button on my D-Mobile phone and figuratively squish him like a grape.
For the record, he did not break through and stay on my cellphone.
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Mm-hmm.
Mm-hmm.
“Due to the Fed rates cut, we will put on on hold for 30+ minutes. Thank you for your patience.”
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Damn.
“due to the financial
crisis,
you have
been laid off.”
filing for
unemployment
benefits used to
be a depressing
and humiliating
process.
fortunately,
the process
for filing a claim
has been simplified
in recent years.
It can now be
done online.
just click
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find out
how
Youre right about one thing.
Our country has got to help people at the bottom first before they start even talking about helping people near the top.
this is exactly the way I feel when I hear about the problems the investors on wall street are having as I hear discussions about the bad economy from the MSM.
What about the problems the average person is having?
How come you only cover economic problems when it affects those who are near the top?
they all live inside a bubble.
When marie Antionette saw the french people rioyting in the streets, she asked one of her servants why and was told it was because they have no bread.
so she asked why dont they just eat cake instead.
Their aristocracy was way out of touch the same way ours is.
To WAR-
I see you simply did a cut-and paste with the sourcecode from my blog to make yours, as I predicted.
nicely done, it all looks good.
To Phil…
sigh.
you used to be “The Guy” and you sold out and are now doing the kind of “serious” talk show you used to make fun of.
There is still some comedy on your show, but really its not enough.
Go back to straight comedy and take calls.
I remember the old phil – what happened to him?
and for God’s sake stop trying to finagle $6.95 out of everybody already.
Give it up.
Jeez! – youre still doing that?
as for callers breaking off of hold, check the link.
Okay, no joke. No hard selling. Just PLEASE give me $6.95 a month.
There.
I’m begging you.
I said it.
$6.95 folks…Don’t use PayPal, though, they charge me a dollar.
Phil Hendrie (millionare) encounters a homeless person:
Phil – “what is that in your cup?, like 35 cents?… Give it to me.”
Phil makes $55,000 after taxes.
That sure is some talented accountant that Phil’s got.
I wonder if Donald trump also only makes 55k a year “after taxes”.
I make $20,291 after taxes.
Exactly.
so Phil Hendrie’s got a lotta nerve asking you for $6.95 a month just to listen to him.
see what I mean?
Yeah but if I got to Subway, and get the $5 dollar footlong plus chips and drink, that’s MORE than $6.95. Which is more important?’
By the way, great sites!