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OT: peak oil - a myth or a real threat?

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  • Originally posted by oldtiffie
    Many people do or may not realise that a mortgage is a "trade-able commodity/instrument" and can be sold-on by the provider of the mortgage to others either separately or "bundled" (as in the recent/current "Sub-Prime" catastrophe).
    Which is why I am willing to pay more interest for a mortgage from my credit union, because they will not sell the mortgage to someone else (unlike most banks).

    I have heard a number of horrer stories of people who have had their mortgage to less then honest companies, who conveniently loose mortgage payments, charge late fees inappropriately, etc. Definitely not worth it.

    I tried shopping for mortgages using brokers such as in 2004 when I was buying a house. I had a "mortgage broker" in California screaming at me on the phone because I refused his 1.5% ARM he was offerring. Big money (then); glad I flushed all those offsers and went with my credit union.


    • It's all crap.

      The oil will never run out.

      It's your patriotic duty to burn as much as possible

      Bury your head in the sand, buy another truck with an unfeasibly large engine and sh-itty gas mileage & shoot the grandkids, that way whatever comes along to replace the human race (lack of caps intentional) will have a running start,
      Kind regards,


      • LOL Nick -- well said!

        It's all pissing in the wind anyway
        "Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did."