Bank Blog

question: With the housing market in a slump and a record number of foreclosures do you think that it would be possible to maybe go to the bank and asked them to sell you lets say 10 forclosure property’s and give you a loan for rehab? i would like to do this i currently flip houses and its true houses are not moving as fast but i have been selling and instead of doing one house at a time i would rather do a lump sum do you think this would fly and if so who would i pitch this to any help would be helpful… i mean its not like the houses are going anywhere anyways

By: qbanb

In addition to the above how do i calculate holding period yield on the above bill, if i purchase it at a market yield of 15% per annum, i hold it for 45 days & sell it at a yield of 14% per annum???
These questions hav been confusin me for sometime….can anyone help???

By: Eg0 /-\A$ \_A/\/DeD

i have 7 computers pentium4 and my competitors are 5 n market population is 5 thousand people

By: jesh p

Do you think I have a chance of buying a house for 30k less than the listing price, from a bank, in Michigan?? (our market is horrible).

The house has a lot of updates. But the sump pump is broken. The basement has some flooding. The furnance and water heater work, but need replacing. Other than that, there are minor issues with the house. It has no appliances and is missing a toilet in one of the bathrooms. Looks like investors walked away from the project. Aesthetically, it’s beautiful.

By: sexy law chick

I’ve had a house on the market for two years and it has eaten our bank account with all the taxes, utilities, and vacant lot insurance. We asked $73,000 for the house and an offer for $66,000 came in. I plan to accept because of the marketing situation, but am getting some flack from others. What would you do?

By: Peaceful Dove

I’ve been trying to break into the investment banking industry after several years of NGO and market research experience. I’ve suddenly been offered a 5-week contract to work as a researcher/ghost-writer for an extremely high-profile figure at a top-tier investment bank, while the regular person doing this work is away on an emergency. This person is regularly on Bloomberg, CNBC, and extremely well respected.

Do you think this could lead to a permanent, more mainstream job opportunity, or will I just be forgotten after 5 weeks? Would a 5-week stint do anything to boost my resume?

By: BK

According to http://www.tdameritrade.com/ratesfees.html the rates are very low. Do they offer any alternatives? Or do I need to buy into a real money market fund or something?

TD Bank USA, N.A. Money Market Deposit Account Rates

Dollar Range Interest Rate Annual Percentage Yield
$0.01-$4,999 0.04999% 0.05%
$5,000-$24,999 0.04999% 0.05%
$25,000-$99,999 0.09995% 0.10%
$100,000-$199,999 0.99545% 1.00%
$200,000 and above 1.24290% 1.25%

TD AMERITRADE Cash Rates

Dollar Range Interest Rate Annual Percentage Yields
$0.01-$1,999 0.00% 0.00%
$2,000-$9,999 0.04999% 0.05%
$10,000-$24,999 0.04999% 0.05%
$25,000-$99,999 0.09995% 0.10%
$100,000 and above 0.49886% 0.50%

Effective February 1, 2008.
“Don’t give your broker a free loan, MSN Money, 2/1/2007

TD Ameritrade Holding (AMTD, news, msgs) pays just 0.1% on cash balances of up to $5,000 if you don’t ask them to give you a better deal. For cash balances up to $25,000 they pay just 0.4%. Up to $100,000 they pay 1.65% — even though the going return on money market mutual funds is around 4.8%. Ameritrade gathered $185 million in revenues by paying clients so little on their idle cash and then “sweeping” it into an account run by a banking partner, where the money earned Ameritrade a much higher rate. On average, clients held $5.7 billion a day in cash during Ameritrade’s last fiscal year, which ended Sept. 30.”

http://articles.moneycentral.msn.com/Investing/CompanyFocus/DontGiveYourBrokerAFreeLoan.aspx
These are the daily cash sweep accounts.

This is about cash in an IRA. Can I really move that to a checking account?

By: Mr. E

With the possibility of IRAs and 401Ks being seized and the stock market tanking today and banks wobbling, what is everyone doing or thinking of doing with their money? It seems like the safest place for it these days is under the mattress! I’m just wondering what everyone’s thoughts are now. I’m not even concerned about making a return on my money anymore. I just want to protect what I’ve got! Thanks …

By: Emily Dew

recently and throughout this week, the stock market has been falling drastically. banking sales and stocks are in great danger to investors. experts on wall street are saying we may be witnessing a mirror image of the great depressoin of 1929.

before the banks had their “problems” did anyone knew that this would happen??? what were the signs??

By: viny5633

My wife and I just refinanced our mortgage from a variable rate to a 30 year fixed, which we thought was a god move. Unfortunately, two months later we were hit with the reality of having to move south to obtain new job opportunities (I have been laid off for 10 months with NO job placement success, yet our moving location job prospects are highly interested in hiring me). We have a place to stay for free while we are down there (1 year with a friend) and we finalized on renting our townhouse because the housing market has made it that we have to go to closing with about $20K out of our pocket. In our mortgage the affidavit of occupancy we signed stated it being our primary residence with “no present intent to rent it”. It also states that since it is our primary that we cannot rent it for any reason. How do I approach this so that we may be able to move to the south for our jobs while keeping our property until the market regains itself WITHOUT breaking our bank?
I also want to add that when we refinanced we were 100% under the impression that we would plan on staying in the townhouse as our primary residence. I had 3 job interviews that were in the “offering” stages, yet all three fell through after our refi. With the birth of my second daughter, we began researching day care prices locally and found out that the prices for daycare were astronomical, so we had to make the last second decision to make the move south. I know the loan agreement says that upon signing that we had “no present intention” to rent it, but two months later that became the reality in order for us to afford to keep the property without having to spend $20K+ at closing which we do not have currently in order to sell the property in today’s Massachusetts market. I am so confused on how to approach this situation the legal way so that I do not get in a big mess with the IRS and with the legality of our signed mortgage contract. Any advice is very much appreciated!

By: Stuck in MA