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Bob and Susan
Elite Nomad
Posts: 8807
Registered: 8-20-2003
Location: Mulege BCS on the BAY
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Mood: Full Time Residents
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usury=The practice of lending money and charging the borrower interest, especially at an exorbitantly high rate.
An excessive high rate of interest charged on borrowed money.
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realestate loans do not exceed 6% right now
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thebajarunner
Ultra Nomad
Posts: 3687
Registered: 9-8-2003
Location: Arizona....."Free at last from crumbling Cali
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Mood: muy amable
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Where do you folks get this info?
| Quote: | Originally posted by Bob and Susan
usury=The practice of lending money and charging the borrower interest, especially at an exorbitantly high rate.
An excessive high rate of interest charged on borrowed money.
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realestate loans do not exceed 6% right now |
This mornings FHA 30 fixed rate is 6.49% (apr 6.59%)
Also, usury, in California, generally does not apply to corporations or financial institutions.
And, even back when usury was a big issue in the state the statutory cap was always 10%- so Skeet is within the limit.
As to Skeet and his claims about avoiding California because of high taxes...
Property tax is probably the only thing that is affordable in this state, compared to others.
Thanks to Proposition 13 it is limited to 1% of value, and after the initial rate is set it cannot raise more than 2% of the initial amount per year.
(except if locals vote by 2/3 to overlay bonding, special taxes, etc.)
****By the way, IMHO, Prop. 13 is incredibly bad policy and law!!! We can discuss that elsewhere.
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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Larry
yes  i loose respect for ppl who pick
on my typing and spelling
jerry and judi
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thebajarunner
Ultra Nomad
Posts: 3687
Registered: 9-8-2003
Location: Arizona....."Free at last from crumbling Cali
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Mood: muy amable
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Mortgage rates today, August 30, 2006
Mortgage Loans
Type Rate +/- Last Week
30 Yr Fixed Mtg 6.08% 6.09%
20 Yr Fixed Mtg 5.99% 5.99%
15 Yr Fixed Mtg 5.80% 5.80%
30 Yr Fixed Jumbo Mtg 6.32% 6.30%
15 Yr Fixed Jumbo Mtg 5.99% 5.99%
3/1 ARM 5.66% 5.64%
3/1 ARM (I/O) 5.75% 5.71%
3/1 Jumbo ARM (I/O) 5.79% 5.78%
5/1 ARM 5.82% 5.79%
5/1 ARM (I/O) 5.94% 5.91%
5/1 Jumbo ARM (I/O) 6.01% 6.01%
7/1 ARM 5.97% 5.94%
7/1 ARM (I/O) 5.99% 5.99%
7/1 Jumbo ARM (I/O) 6.08% 6.06%
30 Yr FHA Mtg 6.62% 6.61%
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jimgrms
Senior Nomad
Posts: 664
Registered: 9-30-2005
Location: oceanside ca
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Mood: its always good
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Being my income is barely above the poverty level , i have no need to participate in this thread just wanted to say hi jim
[Edited on 8-30-2006 by jimgrms]
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
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Mood: undecided
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I'm with jim!;
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Baja Bernie
`Normal` Nomad Correspondent
Posts: 2962
Registered: 8-31-2003
Location: Sunset Beach
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Mood: Just dancing through life
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Runner
Sorry! Bad law or policy is over taxing--not under taxing. Unless you are talking about Baja and Mexico as a whole where very few pay their terribly
low taxes. That is a big reason why the country never seems able to move from square one. If they were effective in taxing the rich and the middle
class as the US does they would shortly become a first world country. If they taxed everyone, like the US does not, they would really move forward
and everyone would think they had a stake in the success of the the 'Motherland."
Well, at least I worked Baja and Mexico into it.
My smidgen of a claim to fame is that I have had so many really good friends. By Bernie Swaim December 2007
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jimgrms
Senior Nomad
Posts: 664
Registered: 9-30-2005
Location: oceanside ca
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Mood: its always good
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leasing or buying
| Quote: | Originally posted by jimgrms
Being my income is barely above the poverty level , i have no need to participate in this thread just wanted to say hi jim
[Edited on 8-30-2006 by jimgrms] |
being my income is barely above the poverty level i have no need to participate just wanted to say bi to all you folks in baja (how about that
bernie ) jim
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Baja Bernie
`Normal` Nomad Correspondent
Posts: 2962
Registered: 8-31-2003
Location: Sunset Beach
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Mood: Just dancing through life
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Larry
I was talking about Mexican taxes there.
My smidgen of a claim to fame is that I have had so many really good friends. By Bernie Swaim December 2007
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Skeet/Loreto
Ultra Nomad
Posts: 4709
Registered: 9-2-2003
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Bob and Susan:
Last year I sold a Piece of Property in Calif:
Calif. held $16,926.00 out of the Escrow>
I paid 15 % Capitol Gains;
Sold another Property- Same thing:
Tax Bill to Feds $85,00 plus the two Calif. Tax Bills.
Fischer Mfg.-Largest Mfg of Gieger Counters is moving to Texas this Month: Why? Taxes-Labor are much Less.
Outdoor Mfg. is also moving to Texas Same Reason.
50 New doctors are coming to Amarillo-Same reason, They are being Taxed out of the State of Calif.
Check the Rates of Workman Comp being Charged to just the Dairy Farmers Alone.
The small Town of Los Banos Calif. is attempting a "Stoppage of Building Permits" to try to allow the Schools to Catch up. Many Students have to Stand
up as the classes are so Crowded.
The Tax people get around Prop 13 by putting Fees on every other item involved.
Check some of the Stats of the movement out of Calif. for other States such as going to New Mexico{Santa Fe for Example}
Back to Usury/regards Leasing- Several years ago some outfits were charging 100 %. Now as far as Cars are concerned the limit on Used Cars in Texas is
24%.
Back in 1972 the Limit in California was 18%
I paid up to 14.5 % on a Fourplex I built in Montana during the Time Jimmy Carter was the President- It went to 21.5% Remember??
The leaseing and Warranty Game by New Car Dealers are at the Max of 24%.
Always remember the Rule of 72.
Skeet/Loreto
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thebajarunner
Ultra Nomad
Posts: 3687
Registered: 9-8-2003
Location: Arizona....."Free at last from crumbling Cali
Member Is Offline
Mood: muy amable
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Rule of 72?
Pretty close SKeets...
Actually, it is the "Rule of 78" and all it means is you get seriously front loaded on interest on an installment loan, only matters if you intend to
payoff early.
No, I am not going to explain it.
Google it, you can muddle through if you are interested.
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Baja Bernie
`Normal` Nomad Correspondent
Posts: 2962
Registered: 8-31-2003
Location: Sunset Beach
Member Is Offline
Mood: Just dancing through life
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I would consider that nothing but fun until they started collecting taxes and then I would follow my Mexican friends
My smidgen of a claim to fame is that I have had so many really good friends. By Bernie Swaim December 2007
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Baja Bernie
`Normal` Nomad Correspondent
Posts: 2962
Registered: 8-31-2003
Location: Sunset Beach
Member Is Offline
Mood: Just dancing through life
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Larry
What is the world coming to? Pay checks in Baja, the horror of it all. The romance has surely slipped away.
My smidgen of a claim to fame is that I have had so many really good friends. By Bernie Swaim December 2007
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