AxelWolf
AxelWolf
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September 1st, 2019 at 9:49:59 AM permalink
Quote: MichaelBluejay

One I'm holding because it might become my personal residence again someday, and another I hold because if I sold it, a developer would knock it down and build something big and expensive that only rich people could afford to live in. There's a shortage of affordable housing in Austin and since I wasn't born into wealth, I don't forget where I came from. Yes, there's lost opportunity cost, but I've got enough that that doesn't faze me now.

If you have enough to where it doesn't faze you, why are you even asking for a loan?
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
MaxPen
MaxPen
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Lovecomps
September 1st, 2019 at 11:06:59 AM permalink
Quote: AxelWolf

If you have enough to where it doesn't faze you, why are you even asking for a loan?



Everyone has a desire for same day bagels.

#GETTING_OUT_OF_THE_DUMPSTER
bobbartop
bobbartop
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MaxPenAxelWolf
September 1st, 2019 at 11:52:34 AM permalink
Quote: Boz

Isn’t capitalism great?



Capitalism is great. Even communists like it.
'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
Lovecomps
Lovecomps
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September 1st, 2019 at 12:45:18 PM permalink
Quote: MaxPen

Everyone has a desire for same day bagels.

#GETTING_OUT_OF_THE_DUMPSTER



After three days this thread is still running hot.-almost 3,000 views as of this posting. I have to admit that I'm surprised.
The best things in life are not free.
AxelWolf
AxelWolf
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September 1st, 2019 at 1:43:52 PM permalink
Quote: Lovecomps

After three days this thread is still running hot.-almost 3,000 views as of this posting. I have to admit that I'm surprised.

There hasn't been 3k views. There's been 3k actions made.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
MaxPen
MaxPen
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happahero
September 1st, 2019 at 1:53:52 PM permalink
Quote: Lovecomps

After three days this thread is still running hot.-almost 3,000 views as of this posting. I have to admit that I'm surprised.



Everyone loves a good train wreck. 😀
Lovecomps
Lovecomps
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MaxPen
September 1st, 2019 at 2:02:03 PM permalink
Quote: MaxPen

Everyone loves a good train wreck. 😀




That, and a sure thing.
The best things in life are not free.
michael99000
michael99000
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MaxPenbobbartop
September 1st, 2019 at 2:13:28 PM permalink
Quote: Lovecomps

After three days this thread is still running hot.-almost 3,000 views as of this posting. I have to admit that I'm surprised.



I’m not surprised at all.

This post had ratings bonanza written all over it right from the start.

My original over/unders for this thread were as follows:

Pages 46.5

Member Suspensions 3.5

Members Nuked .5

Will a loan be given ? No -900000
bobbartop
bobbartop
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September 1st, 2019 at 3:29:29 PM permalink
Quote: michael99000

I’m not surprised at all.

This post had ratings bonanza written all over it right from the start.

My original over/unders for this thread were as follows:

Pages 46.5

Member Suspensions 3.5

Members Nuked .5

Will a loan be given ? No -900000




Funny post. Who's the half member who gets nuked?
'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
michael99000
michael99000
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September 1st, 2019 at 3:52:37 PM permalink
Quote: bobbartop

Funny post. Who's the half member who gets nuked?



That’s the over/under. If 1 member is nuked, over cashes

So far just 2 suspensions
OnceDear
OnceDear
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MaxPen
September 1st, 2019 at 4:01:03 PM permalink
Quote: michael99000

That’s the over/under. If 1 member is nuked, over cashes

So far just 2 suspensions

I did 3 suspensions, but they were very short.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
michael99000
michael99000
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AxelWolfRS
September 1st, 2019 at 4:32:41 PM permalink
Quote: OnceDear

I did 3 suspensions, but they were very short.



Ok. 12 pages , 3 suspensions.

Progressing just as you’d think a loan seeking thread on a gambling web site would.
AcesAndEights
AcesAndEights
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MichaelBluejay
September 3rd, 2019 at 7:10:09 AM permalink
Quote: MichaelBluejay

I was a fan of LC early on, since 2011, and I got the Wizard and others into it. But interest rates have plummeted there in the last year and now it's no longer attractive to me. I was able to manage 9%, while the 90th percentile is 5.25%, so I think I did pretty good. :) On the borrowing side, they don't do mortgages, so that won't work for me.


I was also an early fan LC, but the bottom really fell out of it in terms of defaults. I made money on my account, but opened a 2nd account as a Roth IRA for my wife, and ended up losing money on that one before I liquidated it.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
billryan
billryan 
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September 3rd, 2019 at 8:27:47 AM permalink
Quote: AcesAndEights

I was also an early fan LC, but the bottom really fell out of it in terms of defaults. I made money on my account, but opened a 2nd account as a Roth IRA for my wife, and ended up losing money on that one before I liquidated it.



How did you lose money on it? I'm phasing out of it, no longer funding new loans, but can't see how one could lose money.
The difference between fiction and reality is that fiction is supposed to make sense.
AcesAndEights
AcesAndEights
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September 3rd, 2019 at 8:47:17 AM permalink
Quote: billryan

How did you lose money on it? I'm phasing out of it, no longer funding new loans, but can't see how one could lose money.


What vintage are your notes, and what grade? My specialty was high-risk/high-reward notes. Right around 2014 something huge changed, I never really got to the bottom of it, but either they drastically changed their vetting policy, or big institutional investors started to gobble up the "good" high-interest notes. Notes that I acquired after that date had a much, MUCH higher default rate that turned my return basically breakeven. At that point, I didn't want to invest the meager stream of income back into crappy notes, so I started liquidating everything on the Folio market and once I got everything into cash, rolled it over into a brokerage account (this was an IRA which made the whole process more painful).

In the liquidation process I took a haircut as well, just getting out.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
billryan
billryan 
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September 3rd, 2019 at 9:31:20 AM permalink
I forget the exact recipe but I believe it was mostly Bs and Cs. Stayed away from Es. I never bothered with the folio.
What I found strange was how many people paid off the loans almost immediately. I could understand people with D and E scores paying their loans off to improve their scores but never understood jumping thru hoops for a decent rate and paying it off right away.
People who worship Fair Isaac are weird.
The difference between fiction and reality is that fiction is supposed to make sense.
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