that's an interesting thought. i would think bank all have to buy that kind of insurance themseleves. because under this kind of sicumstance, bank is under more risk than individual home owner.

it would be nice if this kind of insurance is available to home owners.

以下是引用boat在2006-8-14 13:04:00的发言：

以下是引用黑妞在2006-8-12 0:07:00的发言：

以下是引用Izzie在2006-8-11 23:41:00的发言：

For example, assuming that the purchase price of the house is $600,000. Under 80/20 scenario, your 1^st mortgage and 2^nd mortgage is $480K and $120K, respectively. Assuming the 1^st mortgage is a 30-year fixed rate loan at 6.10% and the 2^nd mortgage is a 15-year adjustable rate at prime, your monthly payments for

these two loans are approx. $2,900 and $1,160, respectively. This makes your total monthly mortgage

payments of $4,060 (of course property taxes need to be taken into consideration as well). Is that amount

feasible to you if you and your spouse reduce the 401(K) contribution temporarily to invest in a house?

谢谢美女的分析。。。

4000多差不多是一个人的税后收入了，再加上property tax,还是很紧张的。还要吃喝。 粗算property tax 每年也是一比不小的数目。

现在房市场也不是很稳定。还在跌。想趁这个机会攒攒钱。而且两年后工作地点还会有变动。所以一时不好决定。

4000多是一个人的税后收入， 那你们挣的很多呀！ 刨掉税， 401K等等还能剩4000多， 你们一个人的工资应该是10万以上了。 2个人挣20万已经是中产阶级了， 怎么可能省不下钱买房子呢？ 你们要买多少钱的房子呀？ 我觉得你们买60万的房子没问题呢？虽然现在房市不好， 但自己住总是不用管那么多的， 何况就把你们的租金省了呢。

怎么一眨眼的功夫我就掉到第3页了？

哇哇哇。。。请看12楼的解释。。那个是没有放401K的。。。因为前几个月没有加入，所以有这个粗算的数目。。

我也想一毕业收入就有6位数。。可惜我们都是普通学理工科的。要暴富除非抢银行啊。。。

以下是引用nonstick在2006-8-14 11:17:00的发言：

以下是引用黑妞在2006-8-14 8:57:00的发言：

以下是引用nonstick在2006-8-12 18:38:00的发言：

>6次限制是指transfer from savings? no more than 6 times a month? or a year?

是transfer from savings， no more than 6 times a month，
12个月中两次违规不要紧，第三次，银行需要根据Fed law close你的账户。
MM也是有这个限制。

〉saving + checking要保持多少minimum,可以free online bill/payment呢？

你有DD, 可以0 balance. ING的ACH也是dd, 也可以给自己付两个BILL 每个月。总之不是大问题。

我发现这个direct deposit,好象还有点不一样。。

e-savings 的checking ，好象没有给route number,就一个account number.回头问问。

我才在网上申请了。

I can tell you if you provide your address. 

 the routing number varies according to region, there are totally 15 ABA numbers in citi. 
It's better to call in  or wait for your check.

懂了。。不劳你大驾了。。我这就打电话问问。。。。

i think it is more risky to the bank. because home owners can choose to default the loan. why not? why paying something more than it's current market value? that's why i think banks must buy that kind of insurance.

of course, default load has serious concequences. but if you are facing something like 100k under the water, i think many will choose to default the loan.

Yes, in the question that you have raised, it is definitely risky to the bank if the housing market goes south. For those buyers who put in less than 20% down payment, they are required to pay  (Private Mortgage Insurance), which insures the lender from borrower's default. The buyer pays for the premium, the lender enjoys the benefits. Federally funded loans, such as FHA loans have FHA insurance, a government funded insurance available to protect the lender.

oh. that's what the PMI is for!! thanks for your explaination.

I know bank will not take risks like that. so presumably bank does not think 20% correction happen often.

Again, business is protected while individual home owner is not. How can a home owner buy insurance like that?

I am not sure if there is such insurance available to protect the borrower/homeowner from loss of home values. Isn’t that the same scenario as trying to insure against loss on any other kinds of investments (stocks, bonds, mutual funds, etc.)? Of course we are not talking about diversification here to minimize our risks. Is there one available to protect investment loss? 

On the other hand, it may be a disaster that the home value goes down significantly and the homeowner may fall behind on the mortgage payment. However, that is not really the end of the world. Say the house value goes down $100K, the homeowner falls behind the mortgage payments. The lender will foreclose the house and auction it off. The homeowner has three options: 

(1)   Sell the house in the down market and eats the entire $100K loss;

(2)   File Chapter 13 bankruptcy protection, still may be able to keep the house, and work out a payment plan with the court to have a reduced monthly payment, longer mortgage terms, etc.

(3)   File Chapter 7 bankruptcy protection, which may force the homeowner to sell the house and any personal possessions but all debts may be forgiven – pretty much a “FRESH START”.

 I, personally, would choose to take option #2, and wait for the housing market to bounce back and then sell the house. Your thoughts?

 I, personally, would choose to take option #2, and wait for the housing market to bounce back and then sell the house. Your thoughts?

[此贴子已经被作者于2006-8-14 21:28:00编辑过]