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Economics editor and columnist at Yahoo! Finance, Dan Gross, discusses why Operation Twist may not have worked in the 1960s and why many don't think it will work today.
I am with Nancy. There are many self-employed New Yorkers in this position. I have a great record with all of my bills - never late on my mortgage and always pay a bit more. I have years of proof of being responsible even with inconsistent income, and would really like to take advantage of the the lower rates. Can someone please comment on the self/multiply-employed and options for us?
My husband and I live in Brownstone BKLYN, and we didn't buy into the housing bubble; we're renters. We long ago realized that we couldn't comfortably pay a mortgage to buy a property in our neighborhood. While I feel for those who are underwater in terms of their mortgages, I respectfully submit that nobody forced you to buy the property or sign on to the mortgage--and my household really shouldn't be responsible for bailing you out.
To follow up on Brian's point on bank account interest rates, I would have much preferred to switch out of my company's stock to bank CDs or money markets to minimize the market risk (which has now hit hard), but the bank rates were little or nothing so I could not afford it. (Dreyfus money market funds, for example, literally paid NO interest - not one penny - for all of 2010.)
I have excellent credit and good loan to value on my condo - but as a self employed designer I have been unable to refinance due to not having a steady income. I have never heard anyone discuss this issue. I have never been late on my mortgage payment - ever. Please talk about the self employed.
The consumer economy is over!as technological advances decrease jobs and the population increases we must conclude that our old economic system will not work.
I am in the midst of TRYING to buy an existing home. I am able to put over 60% down on the house after the sale of my home, yet the mortgage process is SO difficult that our sellers are getting very nervous. Let the pendulum hit center and let people who can buy a house do so to we can get this economy going
I have equity in my apt and already refinanced my mortgage for a lower rate.
The way this "Twist" might affect me is as an employee as I work for a financial services company. It just adds to the general feeling of insecurity that we are experiencing.
We now understand that we got into trouble in the first place by too much too easy credit.
What makes anybody think we can get out of it by more too much too easy credit?
Our team crashed after the coach give them too much steroids. The solution? MORE STEROIDS!!!
I just heard SoJo read the promo. To which I thought "how soon till the 'shout,'" from the opposition.
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