Recent posts

#1

Off-Topic / Re: Mortgage Payments should b...

Last post by SEWIGuy - Today at 05:58:10 PM

The current system is rather one-sided. If a borrower is underwater and gets foreclosed on, they still owe the difference between the sales price and the value of the loan, but it is extremely unlikely that the borrower will ever be able to pay that debt. On the other hand, if the sales price is higher than the value of the loan, the borrower gets to pocket the surplus. This asymmetry means all borrowers have to pay a higher interest rate.

Yes. The risk is on the buyer. If you don't want to deal with that risk, you can always rent.

That's actually not true, in California and other "Title Theory" states.

What does Title Theory mean?

#2

Traffic Control / Re: Most absurd VMS messages

Last post by Max Rockatansky - Today at 05:55:56 PM

"ONLY SCRUFFY LOOKING NERF HERDERS LITTER" -- Boston area on the Pike.

TIL nerf herders are a thing in Star Wars.

Youngin'

No lie.

Hey, who you callin scruffy looking?

#3

Off-Topic / Re: Who misses the old McDonal...

Last post by GCrites - Today at 05:50:17 PM

Small businesses still need to go to a physical branch so the lack of branches in a particular area might indicate a lack of small business activity rather than changes in consumer needs. Larger businesses user armored cars for that so if your immediate area (like mine) is one that makes you go to the supermarket or Wal-Mart to buy anything the branches still close.

#4

Traffic Control / Re: Most absurd VMS messages

Last post by epzik8 - Today at 05:37:58 PM

"ONLY SCRUFFY LOOKING NERF HERDERS LITTER" -- Boston area on the Pike.

TIL nerf herders are a thing in Star Wars.

Youngin'

No lie.

#5

Off-Topic / Re: Mortgage Payments should b...

Last post by jeffandnicole - Today at 05:24:40 PM

Suppose you got a new 30 year mortgage with a $2000 payment (principal and interest only for this illustration - taxes and insurance are extra).

Somewhere around $1800 of that payment would go toward interest.

Now suppose you have a reduced payment in the early years of the mortgage, paying more in later years. So you pay $1700 per month.

You would be going $100 in the hole each month! Your payments wouldn't even cover the interest, so your principle would be going up. What bank would gamble on that, knowing that not until some time in the future would you end up paying enough to cover the cost of the original loan? And that assumes that both your house value and your income continue to rise. Clearly not the case for everyone.

This is a fairly good, simple website to calculate the amortization schedule, which allows you to look at just principal & interest if you knock down the other rates, taxes & fees to 0. https://www.amortization-calc.com/mortgage-calculator/

#6

Mid-South / Re: Laredo: bids opened for SH...

Last post by Bobby5280 - Today at 05:11:52 PM

Could this roadway eventually be extended west of FM 1472 and into Mexico?

It looks like too many new logistics buildings and other stuff is getting built on the other side of Mines Road. Over on the East end of this proposed project the new frontage roads have to loop around the Travel Centers of America complex. A new link over the Rio Grade from Mines Road would have to be built some distance farther North & West where there isn't as much building development. I have a feeling the general idea is making traffic use the Columbia-Camino border crossing. But, if there is massive growth in "near-shoring" industry from China to Mexico the Laredo area may need additional border crossings.

#7

Off-Topic / Re: Mortgage Payments should b...

Last post by michravera - Today at 05:10:12 PM

The current system is rather one-sided. If a borrower is underwater and gets foreclosed on, they still owe the difference between the sales price and the value of the loan, but it is extremely unlikely that the borrower will ever be able to pay that debt. On the other hand, if the sales price is higher than the value of the loan, the borrower gets to pocket the surplus. This asymmetry means all borrowers have to pay a higher interest rate.

Yes. The risk is on the buyer. If you don't want to deal with that risk, you can always rent.

That's actually not true, in California and other "Title Theory" states.

#8

Pacific Southwest / Re: 580 is unconstructed from ...

Last post by Max Rockatansky - Today at 04:29:03 PM

That corridor was also explored as part of the 1973 Federal Aid Highway Act.  The alignment over Echo Summit included a tunnel.

#9

Southeast / Re: Interstate 73/74

Last post by 74/171FAN - Today at 04:27:57 PM

I would have numbered it Interstate 474, but NC 192 it will be. This will be the second NC 192, as the designation hasn't been used since 1937: http://www.vahighways.com/ncannex/route-log/nc192.html.

I've long been a fan of numbering it I-740 because it's both I-40 and I-74 in one number, but I'm not sure we'll ever get it.

NC 740 is already a thing so I doubt NCDOT will use I-740 unless it absolutely has to at some point.

#10

Northeast / Re: Pennsylvania

Last post by 74/171FAN - Today at 04:24:34 PM

I as not aware that PennDOT was going into chain control mode on US 322 between Milroy and Sand Mountain Rd until yesterday morning.  (https://www.facebook.com/photo/?fbid=10220284456782075&set=pcb.10220284547264337)