MortgagesUndressed

I was sent this and thought it an interesting read. It is worth a try at
> least…
>
> Okay, this might work…worth trying, I cannot believe that we are now
> paying $3 @ gallon for gas! And in our paper just yesterday, Exxon
> Mobil’s
> profits for January to March was $9.3 BILLION!! I think we are getting
> taken up the ying yang! Debbie
>
> *Subject:* Gas Wars, TAKE THE TIME TO READ THIS PLEASE.
>
>
> GAS WAR - an idea that WILL work
>
> This was originally sent by a retired Coca Cola executive. It came from
> one of his engineer buddies who retired from Halliburton.
> It ’s worth your consideration.
>
> Join the resistance!!!! I hear we are going to hit close to $4.00 a
> gallon by the end of summer and it might go higher!! Want gasoline prices
> to
> come down? We need to take some intelligent, united action. Phillip
> Hollsworth
> offered this good idea.
>
> This makes *MUCH MORE SENSE *than the “don’t buy gas on a certain day”
> campaign that has gone around before! The oil companies just laughed at
> that because they knew we wouldn’t continue to “hurt” ourselves by
> refusing
> to buy gas. It was more of an inconvenience to us than it was a problem
> for
> them.
>
> BUT, whoever thought of this idea, has come up with a plan that can really
> work. Please read on and join with us! By now you’re probably thinking
> gasoline priced at about $1.50 is super cheap. Me too! It is currently
> $2.79 for regular unleaded in my town. Now that the oil companies and
> the OPEC nations have conditioned us to think that the cost of a gallon of
> gas is CHEAP at $1.50 - $1.75, we need to take aggressive action to teach
> them
> that BUYERS control the marketplace…. not sellers. With the price of
> gasoline going up more each day, we consumers need to take action.
>
> The only way we are going to see the price of gas come down is if we hit
> someone
> in the pocketbook by not purchasing their gas! And, we can do that WITHOUT
> hurting ourselves How? Since we all rely on our cars, we can’t just stop
> buying gas. But we CAN have an impact on gas prices if we all act together
> to force a price war.
>
> Here’s the idea:
> For the rest of this year, DON’T purchase ANY gasoline from the two
> biggest
> companies (which now are one), EXXON and MOBIL. If they are not selling
> any gas, they will be inclined to reduce their prices. If they reduce
> their
> prices, the other companies will have to follow suit.
>
> Of course we all have to buy gas at sometime from someone, simply buy
> your gas from any supplier other than EXXON and MOBIL.
>
> But to have an impact, we need to reach literally millions of Exxon and
> Mobil gas buyers. It’s really simple to do! Now, don’t wimp out at this
> point…. keep reading and I’ll explain how simple it is to reach
> millions of people.
>
> I am sending this note to 30 people. If each of us sends it to at least
> ten more (30 x 10 =3D 300) … and those 300 send it to at least ten more
> (300 x 10 =3D 3,000)…and so on, by the time the message reaches the
> sixth
> group of people, we will have reached over THREE MILLION consumers. If
> those
> three million get excited and pass this on to ten friends each, then 30
> million people will have been contacted ! If it goes one level further,
> you
> guessedit….. >>>>>THREE HUNDRED MILLION >>>>PEOPLE!!!
>
> Again, all you have to do is send this to 10 people. That’s all. (If you
> don’t understand how we can reach 300 million and all you have to do is
> send this to 10 people…. Well, let’s face it, you just aren’t a
> mathematician. But I am, so trust me on this one.)
>
> How long would all that take? If each of us sends this e-mail out to ten
> more people within one day of receipt, all 300 MILLION people could
> conceivably becontacted within the next 8 days!!!
>
> I’ll bet you didn’t think you and I had that much potential, did you?
>
> Acting together we can make a difference. If this makes sense to you,
> please pass this message on. I suggest that we not buy from EXXON/MOBIL
> UNTIL
> THEY LOWER THEIR PRICES TO THE $1.00 RANGE AND KEEP THEM DOWN.
>
> THIS CAN REALLY WORK.

Don’t pay 300K for a haunted house. I can find you one for much cheaper. ha ha ha ha - haunted blogs are free. Some day I will have to explain to Larry what the term “ghost writer” means. Until then I will just keep haunting.
The Blog Ghost Writer

MortgagesUndressed.com became haunted by the Ghost Real Estate Blog Writer. We couldn’t get over the fear of it all. So we bolted. All future mortgage blogs will appear on the fearless RealEstateUndressed.com blog.

I am noticing that a lot of folks just can’t control their desire to buy with credit cards. They cannot control having high balances. People who took a wise step in getting out of 18% credit card rates through refinancing their home are running their balances up again. The intent was good, paying off those high interest rate balances.

However I have observed:

The urge to buy is running high.
The urge to spend is in control again.

The strength to resist just does not exhist.
Being mature - a trait that doesn’t endure.

So being the pragmatist I am. (ho ho ho) I decided to make the mobs of credit card addicts my benefactors. I took my entire retirement investments and put them in the new mutual investment fund you may have heard of: “Credit Card Cocaine Fund”

“Credit Card Cocaine Fund” is a unique fund that purchases stock in companies that understand the human addiction to high balances and using up every ounce of credit limit one can acquire. It focuses on companies with research departments that identify the people that are willing to pay the highest rate of interest. It has the uncanny capacity to spot those companies that willingly raise the credit lines of those most likely to use them.

Now how about this for business savvy! One of these companies has determined how to identify the genetic propensity to become addicted to continually having credit card balances. Yes this is a fact.

These genetic marvels start receiving toy credit cards for Christmas and anonymous birthday presents beginning at age 8. This idea came from James J Smoke, who was a noted research analyist for the cigarette industry. Smoke is solely responsible for persuading the candy companies to start selling chocolate cigarettes. They had to subsidize the candy companies as this ended up in providing greater sales for the cigarette companies long term. It became a fact that the kids stopped buying the chocolate kind for the hard stuff, you know real cigarettes.

So old Smoke used this knowledge and moved on to higher income at the international advisory council for earning high rates of interest. It is said, his idea of toy credit cards is garnering him a huge bonus.

Aside from all this complicated data, is the simple fact that my retirement is in your hands, all this thanks to the new investment fund that targets the right people buying the right stuff, any stuff. That is any stuff paid by credit card.

Keep those credit card balances high please. I must retire someday.

Better yet, you could move to Addictsville, Texas (shown below) where you must make every purchase with credit cards and are subject to an annual audit proving you never pay the balances off.

Larry Cragun

Another Julian Beever Chalk Drawing.

The trend is taking out equity through refinancing. Of course that is good for mortgage companies like ours, however, for a moment I will preach.

My wife says be careful here Larry, as we have done what I will now preach against. The situation you may be in may be devastating to you. You think, “if you can only pull out some equity you will be fine.”

You may be worse off is the case I ask you to consider. Especially if you refi into a loan with a prepayment penalty.

As I write this article my mind goes back to the two years I bought foreclosures. I was amazed at the situation people were in. I purchased one home on acerage for $200.00 as the owners were pulling out of the driveway never to return. We sold it 4 months later for a $30,000 profit. I can tell you of many other similar stories.

What amazed me was how unnecessary this was. The husband in the story above was a sophisticated real estate person. He had a large business at one time. Later I found him back selling real estate. He was no dummy.

However, he was crushed. The common denominator. The pressue of the bill collectors, the problems, the overwhelming situation caused him to walk away.

This didn’t happen in a day or a week. It happened with one bad decision after another. It happened because of pride. It happened because of lack of being real.

What I would rather see, than having more business of this kind, is to have people move down in value rather than lose their homes. Take the equity into something you can afford. Of course the reasons you snub this idea are legit:Kids changing schools, the hassle, and the dream of recovering.

You gamble your home coupled with the loss of your equity if not careful. I just remembered an attorney that did this, a client from long ago. Except he did it 3 times and out. He got himself into a business problem. He refused to give up. He refinaced 3 times. He ruined his credit. The fees to refiance plus the prepayment penalties ate his lunch and his equity.

Sometimes it works out fine. It just troubles me I see so much of it already. Larry Cragun, your friend.

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