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The Dave Ramsey Show Podcast - Wed, 19 Nov 2008 23:59:00 -0500
The Dave Ramsey Show is about life and how it happens to revolve around money. Dave Ramsey teaches you to manage and budget your money to avoid bankruptcy, help yourself get out of debt, build wealth, and live in financial peace without debt consolidation. Managing your money properly will reduce stress, improve your marriage, and provide security for you and your family.
[0:00:19] ... And she is king and -- paid awful. Mortgage has taken -- of the BMW -- the status symbol of choice. I am Dave Ramsey your posts in this is the ...
[0:13:28] ... Hey Dave Ramsey here if you want to own -- home and have your finances in order now is that time to buy. Right now home prices across the country are at the lowest they've been in years but also -- like this forever eventually housing prices will go. Back up. Now if you're thinking of buying a home don't Russian of the purchase simply because the prices are really good buying homes and investment than usual -- all your options carefully you don't do it alone. You need to get help from an expert. Why not try using one of our real estate EL peace our ELPs of helped thousands of people by their homes. And investment properties for years they know the areas they serve like -- back other hand -- they'll help you find a home you know loving and truly afford. So go ahead and find the best real estate agent in your city by going to ...
[0:24:32] ... and president of energize -- dot com the web site for dedicated home sellers. If you want to make sure that prospective -- show up for their employment and improve your homes curriculum. Herbert Hill ...
[0:25:03] ... opposes clean sidewalks and fortunately didn't make the front of your home look even better than the -- expect. By doing this successfully your -- be more interest it before ever walking in the door. If you were selling your home now free and three years from now. Learn how you can maximize the value of your home and energized seller dot com that's energized seller. Dot com. ...
[0:25:50] ... taxes and real estate agents to help you buy or sell a home. Just go to Dave -- dot com and click endorsed local providers you'll also find free reports and tools to help you ...
[0:27:56] ... for having me -- I have a question -- I have home outside Detroit that 230000. That adjustable rate mortgage. I doubt about 40000 in the bank. My wife tried to get me pick straight. And you to -- evaluation. Note the home. I hear I was there might be fixed rate. There's -- and I get it OO two -- doubt that. Now is ...
[0:38:47] ... work on my wife and I are about to purchase our first home. I'm basically did -- all itemized budget figure out exactly what we kin can afford a debt tree and basically we're already ...
[0:41:34] ... The best way to save money on food -- to cook at home and you should always have a plan -- or you go to the grocery store. You'll feel like you hired a mental ...
[0:45:13] ... am I am right now start with our have you bought a home when he got home under contract. None yeah or her own -- brought an -- A lot of sellers. Especially builders will pay some -- your ...
[0:45:56] ... what points are. Is a way to increase the profits. To the mortgage company their prepaid. Interest. One point is 1%. Of the loan amounts of your borrowing a 100000 a 140000 dollars one point ...
[0:47:13] ... business. -- but the average nationally as five point six years or mortgage that's how long they live. A curtain and what it takes about it takes about seven to eight years typically to recoup ...
[0:47:31] ... how little computer would not say that is -- talk into the mortgage company. They automatically assumed -- I got the -- to pay any of the closing cost that that money was going directly ...
[0:48:12] ... consumer's mind. But an odd but -- someone has to being a mortgage broker ought to know batter. They -- know the difference. And the seller can pay either one. But here's the best plan ...
[0:48:52] ... look at -- so -- and you ought to check Churchill mortgage of people -- with us and have for almost fifteen years before you do this deal and double check and make sure ...
11/19/08 Marketplace
Marketplace for November 19, 2008
[0:03:52] ... Notre Dame he says remember what happened to borrowers went deflation hit home values. ...
[0:14:37] ... got so jazzed about conserving water work. He started doing it at home do I really do that. ...
[0:20:29] ... bargained for. Also originally told congress he used the money to buy mortgage backed securities that were clogging the financial system to create a market for them by holding it kind of reverse auction. Buying ...
[0:22:38] ... wrong decoupling ones Mexican migrants living here. Send billions of dollars back home every year remittances they're called. Between the credit squeeze in the recession immigrants in this country are taking home as much in their paychecks as there used to you which means they can't send it home. Today our America's best correspondent Dan branch takes a -- parade as Mexico to explore what happens when the money stops coming. ...
Here and Now for Wednesday, November 19, 2008
On today's podcast — piracy in Africa, a look back at one architect of the New Deal, the idea of 'dignity' in ethical debates, and potato dishes for Thanksgiving.
[0:13:55] ... That in the 1930s banks we understand lent only 50% of home value of the had a take -- second and third loans. Mariner mariner -- deal ideas called for more lending. ...
[0:14:15] ... in the United States in the boom something like a third of home mortgages because it took over from the failed banks. These mortgages and the important part of the federal housing authority was that it absolutely re conceived the idea what a mortgage was as you said up until the thirties. Mortgages had generally been issued for very short periods and it fairly stiff interest rates you have to come up with a 50% down payment. Just to get a mortgage and then you have to go back and get a new mortgage after four or five years there was none of this thirty year mortgage stuff. And so what happened was that people. Obviously couldn't make high interest mortgage payments in the midst of the depression when they were running out of work. And -- great genius was to say stretch it out lower the down payment stretch out the payments over much longer period. And even people who are struggling have a much better chance of making their mortgage payments and this is something which you know secretary Paulson and -- had yet to really put on the table. Which is a renegotiation of the terms of the mortgage in which the federal government would step in to help struggling homeowners today make those payments by making it what whatever it needs -- forty your mortgage -- your your mortgage whatever. ...
[0:33:39] ... for Americans scientist is our way of bringing in a taste of home can't be welcome to the studio as always around and -- You can pick me aren't I just get to eating these ...
Here and Now for Wednesday, November 19, 2008
On today's podcast — piracy in Africa, a look back at one architect of the New Deal, the idea of 'dignity' in ethical debates, and potato dishes for Thanksgiving.
[0:13:55] ... note that in the 1930s banks. We understand -- only 50% of home value of the had a take second and third loans. Mariner mariner ankles new deal ideas called for more lending. ...
[0:14:15] ... in the United States in the boom something like a third of home mortgages because it took over from the failed banks. These mortgages and the important part of the federal housing authority was that it absolutely re conceived the idea what -- mortgage was as you said up until the thirties. Mortgages had generally been issued for -- short periods and it fairly stiff interest rates you have to come up with a 50% down payment. Just to get a mortgage and then you had to go back and get a new mortgage after four or five years there was none of this thirty year mortgage stuff. And so what happened was that people. Obviously couldn't make high interest mortgage payments in the midst of the depression when they were running out of work. And -- great genius was to say stretch it out lower the down payment stretch out the payments over much longer period. And even people who were struggling have a much better chance of making their mortgage payments and this is something which you know secretary Paulson and -- have yet to really put on the table. Which is a renegotiation of the terms of the mortgage in which the federal government would step in to help struggling homeowners today. Make those payments by making it what whatever it needs a forty your mortgage or -- your mortgage whatever. ...
[0:33:40] ... from Americans scientist is our way of bringing in a taste of home can't be welcome to the studio has always around and -- You can pick me aren't I just get to eating these ...
WWP Conference: New Situation in U.S. and World, part 5
Jerry Goldberg from Detroit is a retired auto worker, an organizer of the Moratorium NOW! Coalition to Stop Foreclosures and Evictions in Michigan and a founding member of the Detroit branch of Workers World Party. WWP national conference, Nov. 15, 2008.
[0:00:44] ... only and negative amortization mortgages. When people always did the -- their home -- collateral for loans -- an artificial appraisal but vastly overstated their value. The financial interest maybe huge profits off these loans from their high interest rates and exorbitant goodies. And the more quick profits overcame any rational analysis of what was going on so every single financial institution. We -- involved in the mortgage boom. Spending trillions of dollars intelligence and purchasing mortgage securities. -- no regard him through the long term prospects. There was -- classical overproduction and as described by remarks but with the in the financial subtler. An article in the New York Times -- November 8 2007. Pointed out the for the years 2000 Florida 2000 -- us. You have homeowners are thrilled about 840. Billion dollars a year -- residential real estate home equity lines of credit. And refinanced mortgages. These so called home equity withdrawals finance hundreds of billions of dollars a year and personal consumption from 2000 sort of 2006. And weren't large hard wood stave off the economic crisis that we are now saying. But today the hope -- collapse. The mortgage refinancing boom turn into a -- is that for the financial interest. Each of them now things have billions of dollars in losses and the government is scrambling to bail them out -- trillion dollar giveaway financed by the taxpayers. If you haven't kept her stabilize the financial markets on some bubble and this is highly doubtful. How -- the hundreds of billions of dollars the year there was some of the exhibit that was economy every year through home financing. Home equity loans a thing of the past but how many millions of declined definitely across the US and light of the foreclosure epidemic. And sex hammered the -- of the button divert more and more therein comes to try to make mortgage payments would have doubled and tripled then -- upward at the same time. I'm home builders aren't serious the crime. What's called develop something about more than nine -- sold there is no sign of a rebound. With a home run that -- lover the cowboys used to fend off an economic downturn now every turn and toward Robinson. From stimulus for ...
[0:12:41] ... and would rather throw it illustrated -- been allowed to reinstate her mortgage. Well whenever -- on the moratorium yeah. We were instrumental in drafting a bill that have been introducing the legislature. That would ...