Has the bank called your hypo loan?

[cny86]

I'm a long time UPSer with a long time hypo loan that recently got called by my bank. I'm just curious if many others have had this rather unpleasant experience? I remember being a young supervisor and being told to "hypo to the max and you'll be a millionaire many times over!" Ugh!!

 

[Channahon]

Ouch - one reason one should always pay off a hypo as soon as they can, when the stock is at a good price. Unfortunately, now more shares will have to be sold to make good on the hypo.

Like the old saying goes"buy low and sell high", in today's economy it's "sell low to pay debt", a horrible situation to be in regardless of what stock you may own.

 

[dannyboy]

several i know went out and borrowed 130% on their home and bought stock. then hypoed away.

now what have you got with stock at about 1/2 and the home value down by 60%?

i have always wondered about warren buffet. i remember earlier this year liquidating some of his vast holdings........

wonder what he knew and when........


d

 

[brown_trousers]

Whats a HYPO loan?

 

[Catatonic]

It's a "shot in the arm" loan.

 

[Big Babooba]

It's a "shot in the arm" loan.

Last shot that I got was in the ass!

 

[brownmonster]

Whats a HYPO loan?

In this case it's a basket with way too many eggs in it.

 

[ups1990]

Last shot that I got was in the ass!

I've shot myself in the foot many a times.

 

[kdogg788]

It doesn't seem to make much sense financially to go for one of these loans.

-k

 

[Old International]

Just means more shares for me to buy.............

 

[dillweed]

I've shot myself in the foot many a times.

I've done that and then put the darned thing in my mouth to boot. Oh dear, "to boot". If this post doesn't kill the thread nothing will.