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!!

"bpuharic" wrote in message
...
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!!

Actually it is the government looking at all that 401k money to take.

On 24/07/2010 3:07 PM, Califbill wrote:


"bpuharic" wrote in message
...
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!!

Actually it is the government looking at all that 401k money to take.

Which is why this fall is going to be brutal on the markets. Say you
are over 65, have a loaded 401k/IRA -- and taxes are going to go up
sharply for 2011...might want to withdraw this year at a better
federal/state rate than next year. I will predict, December is going to
see some real down swings if not sooner.

--

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

On Sat, 24 Jul 2010 14:07:48 -0700, "Califbill"
wrote:



"bpuharic" wrote in message
.. .
On Fri, 23 Jul 2010 21:11:18 -0400, Larry wrote:


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!!

Actually it is the government looking at all that 401k money to take.

ROFLMAO!! the govt did not cause the 35% drop in my 401K in the last 3
years. that was WALL STREET

but, of course, this doesnt fit with right wing mythology which holds
up gordon gecko as its patron saint....

repeat after me:

'greed is good....'