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re: Financial blunder stories
Posted on 4/18/16 at 2:07 pm to ctiger69
Posted on 4/18/16 at 2:07 pm to ctiger69
I worked in mortgage business back in 04 and it inspired me to get my degree in Finance. Did a refi for a couple that was leveraged to their eyeballs. The wife had over 50k in credit card debt. They had over a 100k in equity in the home so we were able to pay off all the debt and give them a little cash back. It saved them over a $1000.00 per month and only extended the mortgage by 2 years.......She went out and bought a BMW and ran all the credit cards back up with in 6 months. I felt so sorry for the guy.
1
Posted on 4/18/16 at 2:10 pm to Hog on the Hill
quote:
Well I happen to know a lot of amazing women and most of them I don't want to have sex with, so yes, I would. I can't speak for you.
When you white knight sarcasm. 
How I picture you after pushing submit.
Posted on 4/18/16 at 2:11 pm to Sisyphus
Not entirely accurate. That stock has split numerous times. Yes, 10% on Apple is probably worth that dollar figure today. But Ronald Wayne's 1976 10% is likely much closer to .01% of today's shares. Still a shitload of money, and he'd probably be a billionaire, but not $58 billion.
Posted on 4/18/16 at 2:12 pm to Hog on the Hill
quote:
Well I happen to know a lot of amazing women and all of them I can't have sex with
FIFY
Posted on 4/18/16 at 2:13 pm to MontyFranklyn
quote:
I worked in mortgage business back in 04 and it inspired me to get my degree in Finance. Did a refi for a couple that was leveraged to their eyeballs. The wife had over 50k in credit card debt. They had over a 100k in equity in the home so we were able to pay off all the debt and give them a little cash back. It saved them over a $1000.00 per month and only extended the mortgage by 2 years.......She went out and bought a BMW and ran all the credit cards back up with in 6 months. I felt so sorry for the guy.
But did you really, I mean ya'll probably ended up with the house, huh?
Posted on 4/18/16 at 2:17 pm to DirtyMikeandtheBoys
quote:No, we were a 3rd party lender. We had several different financial institutions that we did loans for. This lady just couldn't control her spending. She loved spending money like non other. He said that the guess room closet was filled with brand new clothes with tags on them. They eventually had to turn one of the kid's room to a walk in closet. I have no doubt in my mind that this lady was prostituting on the side.
But did you really, I mean ya'll probably ended up with the house, huh?
Posted on 4/18/16 at 2:20 pm to MontyFranklyn
Guy I went to college with took out student loans to invest in tech stocks. The bust got him, and he is still repaying the loans.
Posted on 4/18/16 at 2:22 pm to MontyFranklyn
quote:I could be married to the nicest, sweetest, kindest woman on the planet, and if she spent money like that, I'd divorce her in a heartbeat.
No, we were a 3rd party lender. We had several different financial institutions that we did loans for. This lady just couldn't control her spending. She loved spending money like non other. He said that the guess room closet was filled with brand new clothes with tags on them. They eventually had to turn one of the kid's room to a walk in closet. I have no doubt in my mind that this lady was prostituting on the side.
Posted on 4/18/16 at 2:27 pm to Hog on the Hill
A girl I briefly dated told me she had $47K in credit card debt.
She was a social worker making $30K/year
Good luck w that shite
She was a social worker making $30K/year
Good luck w that shite
Posted on 4/18/16 at 2:28 pm to Hog on the Hill
quote:
This lady just couldn't control her spending
A buddy of mine was married to a chick like this.
He took $45,000 out of his retirement to pay her cards off, within 2 yrs she had ran them back up. He divorced her the 2nd time
Posted on 4/18/16 at 2:33 pm to The Torch
If my wife ran up 45k on credit cards......i may be in jail for domestic abuse.
This post was edited on 4/18/16 at 2:34 pm
Posted on 4/18/16 at 2:45 pm to The Torch
quote:I just don't get it. How much shite does one person need?
A buddy of mine was married to a chick like this.
He took $45,000 out of his retirement to pay her cards off, within 2 yrs she had ran them back up. He divorced her the 2nd time
Posted on 4/18/16 at 2:51 pm to CBLSU316
quote:I think it would be hard for any man to not put his hands on his wife if she did a 2nd time.
If my wife ran up 45k on credit cards......i may be in jail for domestic abuse.
Another interesting story I have is about a guy and his daughter. Guy is literally in love with his daughter. The girl is very smart and very pretty, but the have a co-dependent relationship that is pretty strange. She got her degree in CS and moved back in to her parents home. The mom hated it, but the dad didn't want it any other way. She found a job where she works from home so that was okay. Dad still pays for all her food, cars and partying. Her mom finally convinced her and the dad that she needed to move out so the dad bought her a house in the neighborhood right around the corner
She was 30 when she moved out and is now 35 
Posted on 4/18/16 at 2:56 pm to ctiger69
quote:
So my girlfriend stepped in and started to pay the monthly morage.
quote:
I asked do you really think your aunt is going to pay you back all of your lost money with her messily minimum wage salary?
quote:
Then my girlfriend sat there staring at me with this proud self gloating smile stamped to her face.
You were well-matched with a stupid girlfriend.
You shouldn't have dumped her, you won't ever do better.
Posted on 4/18/16 at 3:16 pm to CBLSU316
What woman is good with money?
I've yet to meet her.
I've yet to meet her.
Posted on 4/18/16 at 3:44 pm to DirtyMikeandtheBoys
When you own 10% of a company, you own 10% of the stock. Any splits you mentioned would have doubled his shares in #
All in all, most things considered, if left untouched, he would still own 10%.
All in all, most things considered, if left untouched, he would still own 10%.
Posted on 4/18/16 at 3:53 pm to The Torch
quote:All I'll say is this:
A buddy of mine was married to a chick like this.
He took $45,000 out of his retirement to pay her cards off, within 2 yrs she had ran them back up. He divorced her the 2nd time
1. My divorce, including alimony, is costing me exactly as much debt as my ex-wife had, and I'm not on the hook for her debt. I'll be finished paying at the end of the year.
2. I'm getting a pre-nup next time.
Posted on 4/18/16 at 4:07 pm to MontyFranklyn
It'd be very hard for me the first time....
Posted on 4/18/16 at 4:22 pm to Sisyphus
Yep, Ronald Wayne is a good one.
Another one is that Domino's Pizza was started by two brothers. At some point they were in bit of trouble and one brother wanted out, so he sold his half to his brother for a few hundred.
Another one is that Domino's Pizza was started by two brothers. At some point they were in bit of trouble and one brother wanted out, so he sold his half to his brother for a few hundred.
Posted on 4/18/16 at 4:23 pm to GeeOH
Well, Apple didn't IPO until until 1980, so it's very likely that between 1976-1980 that his shares would have been diluted.
ETA: he sold in 1976 two weeks after he bought in. He was later offered 1500 when Apple did get financial backing, which would have diluted his portion of the shares assuredly.
ETA: he sold in 1976 two weeks after he bought in. He was later offered 1500 when Apple did get financial backing, which would have diluted his portion of the shares assuredly.
This post was edited on 4/18/16 at 4:31 pm
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