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Re: Re: banks are cvnts!

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Originally posted by Krypton The only thing I use a broker for is to tell them what to buy and sell for me. Never EVER, let your broker, tell you what to buy or sell. They are looking out only for #1, which is their commission. I don't care how slick they sound over the phone, how sure they are of this stock pick, it's all bullshit. Trust me, I've worked with brokers.

You're tarnishing all brokers (and by brokers I presume you mean financial advisors, the term broker is pretty generic for any industry) with the same brush. Did you work for First Jersey Securities?

As someone who worked with multiple brokers daily there are some morons out there but an a lot of good eggs who really are on the look out for their clients, you've just got to know how to spot the good from the bad.

Re: Re: Re: banks are cvnts!

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Originally posted by fbgdavidson You're tarnishing all brokers (and by brokers I presume you mean financial advisors, the term broker is pretty generic for any industry) with the same brush. Did you work for First Jersey Securities? As someone who worked with multiple brokers daily there are some morons out there but an a lot of good eggs who really are on the look out for their clients, you've just got to know how to spot the good from the bad.

I'm talking about the cold calling, hard selling broker. Financial advisors are a completely different thing. Their objective should be to formulate an investment portfolio geared to the client's risk tolerance.

If it's a LOC which is used solely for investment purposes then you might be ok. A common fault is that people mix their LOCs up, so they'll buy a boat as well as shit for the house and it dilutes the whole pool.

Be worth looking into. That's a balls situation regardless though, however if you didn't look into the cost of refinancing, especially at the moment with such a dramatic interest drop, then...well... =/

can only claim the interest as a tax deduction if it was for investment. If you use that same loan for other things you can still claim the part that was for investment, it means a lot more number cruchning to prove what you claim if you ever get audited though.

you cannot have it both ways when fixing the loan. If rates go up the folks on fixed rate win, you cannot really expect the banks to let it go easily if the rates go down. And no-one could have predicted rates crashing like they have. Still sucks to be stuck on that higher rate, especially when it was seen by so many experts as the responsible option.

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Originally posted by tubby can only claim the interest as a tax deduction if it was for investment. If you use that same loan for other things you can still claim the part that was for investment, it means a lot more number cruchning to prove what you claim if you ever get audited though.

cheers, thanks.

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Originally posted by tubby you cannot have it both ways when fixing the loan. If rates go up the folks on fixed rate win, you cannot really expect the banks to let it go easily if the rates go down. And no-one could have predicted rates crashing like they have. Still sucks to be stuck on that higher rate, especially when it was seen by so many experts as the responsible option.

of course i cant have it both ways, the banks have it both ways! the only way the customer gets it both ways are if two banks are fucking them at the same time

the banks here are that too, especially halifax. They've refused to pass on the full interest rate cuts (which is 2.5% in the last 2 months alone) and will charge you for being overdrawn for just 1 second. However they tried it to my mum & I found a way to get around it, if you deposit money on the same day, it adds it in before the amount that came out (even though that came out earlier) and print your bank balance out online, which doesn't show what their systems do, then say "well your whole internet banking system is a lie, I'm suing" and they say "oh forget the charges this time"

Re: banks are cvnts!

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Originally posted by pkcRAISTLIN they wanna rape me for $35,000 word to the wise: if you've got half a brain, trust your own instinct and don't listen to your broker. cvnts. everyone, cvnts.

i'm hearin ya mate. I called my lender to see the break cost.. fukn $12,000. (and that's before the interest rate cut from the other day - no doubt it's in the 20's now).. i thought i was onto a good thing when i locked it in in January.. i sidestepped two official increases and another coupla unofficial ones..

i'm luck tho, i can pay off as much as i want without penatlies - maybe i have to think about external refinance and pay the fukers out

i swear to god i saw the titleas Blacks are cvnts last night, which is why when i opened the thread and saw the post i was like ?

Almost all mortgages have a pre-payment penalty. This is done so that they at least make SOME money off of you. Most are 3 years or less, but there are some that are 5 years. Mostly the longer ones are the subprime mortgages though.

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Originally posted by airwalker1 not sure if i wont to laugh or feal sorry for your situation

i'm going for laugh

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