Has the bank called your hypo loan?

Discussion in 'UPS Discussions' started by cny86, Oct 28, 2008.

  1. cny86

    cny86 New Member

    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!! :sick:
  2. Channahon

    Channahon New Member

    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.
  3. dannyboy

    dannyboy From the promised LAND

    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........

  4. brown_trousers

    brown_trousers Well-Known Member

    Whats a HYPO loan?
  5. Catatonic

    Catatonic Nine Lives

    It's a "shot in the arm" loan.
  6. Big Babooba

    Big Babooba Well-Known Member

    Last shot that I got was in the ass!
  7. brownmonster

    brownmonster Man of Great Wisdom

    In this case it's a basket with way too many eggs in it.
  8. ups1990

    ups1990 Well-Known Member

    I've shot myself in the foot many a times.
  9. kdogg788

    kdogg788 New Member

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

  10. Old International

    Old International Now driving a Sterling

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

    dillweed Well-Known Member

    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.