Posted by JML755 on September 19, 2008 at 05:56:48 from (66.184.63.110):
In Reply to: O.T. tick rule posted by NEsota on September 18, 2008 at 19:39:13:
"... The Feds want to loan the bank some money tp help with troubled mortages. It supposed to help the homeowner keep there homes..."
Not sure throwing more money into the mess will help. I.e. Helping someone keep a home they cannot afford is probably not the best solution. It's a complicated issue, with lots of contributory causes: crash in real estate values causing speculators to go upside down on their mortgages and walking away, ARMs that reset to higher rates than people could not afford, drop in housing market caused drop in truck sales coupled with high gas prices tanked the auto industry causing layoffs, etc.
Recently, we increased our equity credit line on our house to buy a replacement for a vehicle whose lease was up. Current lease rates are sky-high and we wanted a payment that was within our means, so we downsized the vehicle and purchased instead of leasing. That is the key: live within your means.
However, I suspect that this is "preaching to the choir" and that most people on this forum are pretty fiscally conservative.
And I think Bradley Martin is right on the money. If it sounds too good to be true, it probably is and someday you'll have to pay the piper. We went through this before (remember Michael Milliken and Drexel?), the dot.com, real-estate crash in the early 90's.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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