bpuharic wrote:
On Tue, 20 Jul 2010 19:06:17 -0400, wrote:


bpuharic wrote:

On Tue, 20 Jul 2010 05:03:58 -0400, "Charles C."
wrote:


if, however, you're a baby boomer, well that's a different story



CC


So, in other words, I should be screaming and bitching about the "loss" of
money that I never earned or had. I see. Starting to understand how the
left thinks.


go ahead and try to get a loan using your 401K as collateral

see what happens



CC


When would any lender accept a 401K account as collateral?

since it's a standard part of a loan applcation. that's when

been renting all your life, i see


I'm going to try to guess what you meant to say...

Loan applications usually are interested in liquid assets. 401K
accounts don't count. I ralize they can be liquidated but loan officers
aren't interested in that.

On 21/07/2010 6:03 PM, Larry wrote:
bpuharic wrote:
On Tue, 20 Jul 2010 19:06:17 -0400, wrote:

bpuharic wrote:
On Tue, 20 Jul 2010 05:03:58 -0400, "Charles C."
wrote:

if, however, you're a baby boomer, well that's a different story


CC

So, in other words, I should be screaming and bitching about the
"loss" of
money that I never earned or had. I see. Starting to understand how
the
left thinks.

go ahead and try to get a loan using your 401K as collateral

see what happens


CC

When would any lender accept a 401K account as collateral?
since it's a standard part of a loan applcation. that's when

been renting all your life, i see

I'm going to try to guess what you meant to say...

Loan applications usually are interested in liquid assets. 401K accounts
don't count. I ralize they can be liquidated but loan officers aren't
interested in that.

Even if you can't touch a 401k in bankruptcy, a healthy for your age
401k or IRA balance shows your not a fly by night loser. That is, if
you were 50 and didn't have a 401k/IRA, I would count that against you
big time.

--

Government has liberals, idealists and lawyers, but where is the common
sense?

Canuck57 wrote:
On 21/07/2010 6:03 PM, Larry wrote:
bpuharic wrote:
On Tue, 20 Jul 2010 19:06:17 -0400, wrote:

bpuharic wrote:
On Tue, 20 Jul 2010 05:03:58 -0400, "Charles C."
wrote:

if, however, you're a baby boomer, well that's a different story


CC

So, in other words, I should be screaming and bitching about the
"loss" of
money that I never earned or had. I see. Starting to understand how
the
left thinks.

go ahead and try to get a loan using your 401K as collateral

see what happens


CC

When would any lender accept a 401K account as collateral?
since it's a standard part of a loan applcation. that's when

been renting all your life, i see

I'm going to try to guess what you meant to say...

Loan applications usually are interested in liquid assets. 401K accounts
don't count. I ralize they can be liquidated but loan officers aren't
interested in that.

Even if you can't touch a 401k in bankruptcy, a healthy for your age
401k or IRA balance shows your not a fly by night loser. That is, if
you were 50 and didn't have a 401k/IRA, I would count that against you
big time.

The only long-term debt I have is my home and I refinanced it in the
past 12 months. They specifically excluded retirement money as declared
assets and they didn't even ask for reference purposes. 4.125%! I took
5 years off and dropped my payment by over $400/month. It cost me less
than $1000 for closing costs.

On Wed, 21 Jul 2010 20:03:06 -0400, Larry wrote:

bpuharic wrote:
On Tue, 20 Jul 2010 19:06:17 -0400, wrote:




go ahead and try to get a loan using your 401K as collateral

see what happens



CC


When would any lender accept a 401K account as collateral?

since it's a standard part of a loan applcation. that's when

been renting all your life, i see


I'm going to try to guess what you meant to say...

Loan applications usually are interested in liquid assets. 401K
accounts don't count. I ralize they can be liquidated but loan officers
aren't interested in that.

401k's are liquid assets if you take a tax penalty

not too bright, are you?

and what makes you think loan officers arent interested in money?

On 21/07/2010 6:59 PM, bpuharic wrote:
On Wed, 21 Jul 2010 20:03:06 -0400, wrote:

bpuharic wrote:
On Tue, 20 Jul 2010 19:06:17 -0400, wrote:




go ahead and try to get a loan using your 401K as collateral

see what happens



CC


When would any lender accept a 401K account as collateral?

since it's a standard part of a loan applcation. that's when

been renting all your life, i see


I'm going to try to guess what you meant to say...

Loan applications usually are interested in liquid assets. 401K
accounts don't count. I ralize they can be liquidated but loan officers
aren't interested in that.

401k's are liquid assets if you take a tax penalty

not too bright, are you?

and what makes you think loan officers arent interested in money?


But you would be wholely stupid to do that, taking money out of a
IRA/401k prematurely is about as dumb as it gets. And "rich" people
don't look at dumb things as valid options.

Loan officers job is to take rich peoples money, pay them a dividend,
then multiply it to loan to loaser who will pay for the privelege of the
loan.

Want to be rich, just means you have to do what it takes to be on the
right end of that transaction. Save money and loan it to people who
will pay it abck with interest.

Didn't even read the rule about debt I sent you the other day? Guess
you like being miserable and stupid.


--

Government has liberals, idealists and lawyers, but where is the common
sense?

On Wed, 21 Jul 2010 20:44:55 -0600, Canuck57
wrote:

On 21/07/2010 6:59 PM, bpuharic wrote:
On Wed, 21 Jul 2010 20:03:06 -0400, wrote:



I'm going to try to guess what you meant to say...

Loan applications usually are interested in liquid assets. 401K
accounts don't count. I ralize they can be liquidated but loan officers
aren't interested in that.

401k's are liquid assets if you take a tax penalty

not too bright, are you?

and what makes you think loan officers arent interested in money?


But you would be wholely stupid to do that, taking money out of a
IRA/401k prematurely is about as dumb as it gets. And "rich" people
don't look at dumb things as valid options.

i agree it's DUMB to raid your 401K. but that is irrelevant in a loan
application.


Want to be rich, just means you have to do what it takes to be on the
right end of that transaction. Save money and loan it to people who
will pay it abck with interest.

or get greedy and invent new forms of bull**** like CDO's then get
george bush, ronald reagan, etc., to call this free enterprise

bpuharic wrote:
On Wed, 21 Jul 2010 20:03:06 -0400, wrote:


bpuharic wrote:

On Tue, 20 Jul 2010 19:06:17 -0400, wrote:





go ahead and try to get a loan using your 401K as collateral

see what happens




CC



When would any lender accept a 401K account as collateral?


since it's a standard part of a loan applcation. that's when

been renting all your life, i see



I'm going to try to guess what you meant to say...

Loan applications usually are interested in liquid assets. 401K
accounts don't count. I ralize they can be liquidated but loan officers
aren't interested in that.

401k's are liquid assets if you take a tax penalty

not too bright, are you?

and what makes you think loan officers arent interested in money?


I said, and I know I misspelled a word, that I realize that they can be
liquidated. They are still of not interest to a loan officer as
collateral. I'm quite bright. I have a large 401K/IRA. You,
apparently don't.

On Thu, 22 Jul 2010 19:39:16 -0400, Larry wrote:

bpuharic wrote:
On Wed, 21 Jul 2010 20:03:06 -0400, wrote:



and what makes you think loan officers arent interested in money?


I said, and I know I misspelled a word, that I realize that they can be
liquidated. They are still of not interest to a loan officer as
collateral. I'm quite bright. I have a large 401K/IRA. You,
apparently don't.


so you say. the average 401K is less than 50K.

mine's bigger.

and so is my 401K

bpuharic wrote:
On Thu, 22 Jul 2010 19:39:16 -0400, wrote:


bpuharic wrote:

On Wed, 21 Jul 2010 20:03:06 -0400, wrote:



and what makes you think loan officers arent interested in money?



I said, and I know I misspelled a word, that I realize that they can be
liquidated. They are still of not interest to a loan officer as
collateral. I'm quite bright. I have a large 401K/IRA. You,
apparently don't.


so you say. the average 401K is less than 50K.

mine's bigger.

and so is my 401K

I'm far behind you in retirement age yet I have a large 401K/IRA. I
know that bothers you. If you knew how much you might kill yourself.

On Fri, 23 Jul 2010 21:11:18 -0400, Larry wrote:

bpuharic wrote:
On Thu, 22 Jul 2010 19:39:16 -0400, wrote:


bpuharic wrote:

On Wed, 21 Jul 2010 20:03:06 -0400, wrote:



and what makes you think loan officers arent interested in money?



I said, and I know I misspelled a word, that I realize that they can be
liquidated. They are still of not interest to a loan officer as
collateral. I'm quite bright. I have a large 401K/IRA. You,
apparently don't.


so you say. the average 401K is less than 50K.

mine's bigger.

and so is my 401K

I'm far behind you in retirement age yet I have a large 401K/IRA. I
know that bothers you. If you knew how much you might kill yourself.

hey the fact you're rich bothers me not at all. good luck

but when you're my age...watch your ass. wall street's gonna look at
your 401K and decide it's too good for you to keep.

bye bye!!