Monday, November 21, 2005

Happy Thanksgiving!!!

I want to wish everybody a Happy Thanksgiving! Have fun, enjoy the time off with friends and family, and keep checking Ben's blog for up to date housing bubble info. I will be checking in if/when I get a chance. card minimum payments are set to double in January. So take it easy with those credit cards over the holidays if you don't plan on paying the balance in full!

I don't want anybody that ready this blog or Ben's blog ending up as a FB!!

Have a great holiday...and keep checking back!


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Blogger David said...

Happy Thanksgiving. Love your blog.

11/21/2005 3:16 PM  
Blogger SoCalMtgGuy said...


I'm trying to fix it up a little bit. I am going to be adding more links and content over the next few weeks.

Keep checking back...and point other people this way if you like the blog.


11/21/2005 3:39 PM  
Blogger SoCalMtgGuy said...

The minimum payment that is due on credit cards is set to change in January.

Right now it is about 2% of the outstanding balance. So on a $7000 balance, the min payment is about $140 bucks.

The min payment is going to about 4%.

Here is one article:

Just search google for this phrase (or similar) and you will get plenty of info.

credit card minimum payment increase

11/21/2005 8:03 PM  
Blogger SoCalMtgGuy said...

Depending on the loan, things can start getting "tougher" when you get over $500k.

We have all sorts of guidelines...but it seems that they are not as open with exceptions/etc. when the loans climb over 500k, and are at higher LTV's.

But it ALL depends on the merits of the whole file. I have had some 600-700k loans slide through soooo easy because they were lower ltv's with good appraisals. I have also had 80/20's in that range as well.

I have had some 130k loans that were a nightmare to get done.

You have bigger loans on the coasts...but I would also say that the competition is very cut-throat as well. Heck, every subprime lender is headquartered out of Orange County and San Diego (at least it seems that way).

I hope that sort of answers your question.

11/22/2005 12:18 AM  
Blogger SoCalMtgGuy said...

Hey Jack,

I'll leave your post up. It is a sign of the desperation you must be feeling.

I am NOT a real estate investor...I'm just here to help people not fall victim to people like yourself.


11/28/2005 12:29 PM  
Blogger SoCalMtgGuy said...


I agree with what you say, but your first post seemed like you were "bashing the bloggers"...and taking the position of the CAR/NAR.

Glad you got out...and you did it smartly. The problem is that nobody thinks for themselves anymore, or takes responsibility for their actions.


11/28/2005 12:49 PM  
Blogger SoCalMtgGuy said...


His links are to other blogs. What you are seeing are the google ads that are keying off the "housing" nature of his blog.

He did not place those links himself.

If you look at my blog...the ads are for mortgages, etc. The ads key off of the blog topic.

I hope that helps some.

11/28/2005 12:56 PM  
Blogger SoCalMtgGuy said...

Google has nothing to disclaim.

It says "ads by google" by all of those links you talk about.

You have to look for it...and it can be glossed over...but it's there.

11/28/2005 1:07 PM  
Blogger SoCalMtgGuy said...


bloggers don't HAVE to put the ads there. The ads allow the blogger the potential to make money.

check out the "adsense" button on my website to learn more. or check out google adsense on google.

You would be surprised the amount of money that is out there for internet advertising (I had no idea). Websites with enough traffic can make a few cents here and there...and that can add up when they are getting thousands of hits per day.

11/28/2005 3:19 PM  
Blogger SoCalMtgGuy said...

he isn't steering his readers anywhere. the only place he steers with what he posts on his blog...and the Links that he added.

Ads are absolutely EVERYWHERE on the internet. Those ads finance the internet so to speak. If people cannot discern content from ads...then so be it.

I too find it funny that there are mortgage ads running on my site, his site, and every other bubble site out there. BUT, we are not steering people to those website anymore than nbc/abc/cbs steers people to buy from their advertisers.

Check out some of the car message boards and blogs. A BMW blog will have mercedes ads running on it...and audi, and ford, etc.

11/28/2005 3:40 PM  
Blogger SoCalMtgGuy said...


I completely agree with you. It is amazing the because people make 100k on 1 property, they think it will happen on EVERY property.

It is not going to end pretty.

12/05/2005 10:17 AM  
Blogger SoCalMtgGuy said...


You are right about many things...especially the fact that people IN the industry are some of the worst offenders in terms of "drinking the cool-ail".

Thanks for your posts...and keep checking back!


12/08/2005 4:07 PM  

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