Recent content by nat r

Thank you for that completly useless post. I'm sure everyone is much better off after reading a cliche that is in no way realted to the topic. Nat R

This debate reminds me of the way GST is charged on TAB bets in the UK. You can pay 10% tax on the bet upfront (before the horse race starts) .....or 10% tax on the winning after you have won. Which option do you chose??

No sinister ployt...when I saw the shared equity loan story hit the Syd Morning Herald website I thought there might be a flow on effect to Derivex thread.....so I surfed over only to find somebody with zero previous posts suggesting that Derivex has been wrongly accused of a crime they didn't...

^^^ Correct...individuals do have a right to assumed innocence from guilt except for when they are guilty of outright stupidity. Anyone prepared to stand up for or believe in the Derivex product is by defintion very guilty. (to be honest ....if you are for some unknown reason still a...

Line up here to thank me for warning you (those of you who were smart enough to listen) Those who were too stupid to listen to reason (lots of you)...please send me a PM ...I have a number of Harbour Bridges and Opera Houses I"m looking to sell cheap. Regards Nat R

99% of the reason they we introduced in the US was to get around a problem the non bank lenders were having with the rating agancies and IO loans. The rating agencies were penalising them for writing IO loans but there was no penalty for longer P+I loans...net result, they made a P+I...

A lender offers a 40yr loan and the popular press picks on them for trying to lend to those who can't afford a normal loan. BMW Finance offer 10yr IO loans and the business section of the same paper congratulates them for introducing a product for the up market borrower. Too funny !!!!!

I find it odd that people say "I would not want to be tied to a loan for 30 or 40 years" when they are by default saying "I would rather rent for the next 60 or 70 years" I guess we should be happy ....as we all need more long term tenants !!

I was in the US last week meeting with various sub-prime mortgage lenders and a few of them are starting to roll out 50 year loans. However, the real reason they offer 40 year loans is that the rating agencies (who give credit ratings to the lenders bonds) were penalising them for doing IO...

But a lot of people lost their credability didn't they Simon ;)

I don't think it was a scam for three reasons: 1) scams are usually better planned 2) typically the scammer wants to scam money from people 3) the guy behind it was too stupid to invent a scam. It was more of a false hope thing where some wally dreamt up a plan and got more wood ducks to...

That is what most academics do....think about worthless ideas ...if they actually had usable skills they would be in the workforce earning 10x what they get paid writing pointless papers that nobody bothers to read.

The problem with money for living was that the financing program was very close to a pryamid and was far from sustainable. Plus, from what I can gather the promoters were known low-lifes with a lot of prior history of shonky dealings. I'm suprised ASIC let it go on as long as it did. A...

Be careful....even though they are saying their is no LMI on a 85% loan, I would not be suprised if they are actually taking out LMI (and paying for it themselves) behind the scenes. The reason would be that the RBA puts a larger capitakl requirement on the bank for loans above 80% that are not...