June 4, 2012 at 9:18 am
Brandie Tarvin (6/4/2012)
Gianluca Sartori (6/4/2012)
mtillman-921105 (6/1/2012)
So I suppose a lot of people rent in Europe?70% of Italians own the house they live in.
Well, sort of.
Who owns the house while you're paying the mortgage? You or your bank?
Technically you, but you've given the bank rights to take the house from you when you lent it to them as collateral for the money they gave you to purchase the house.
Confused yet? @=)
At least you own the house in the US, but does it work the same elsewhere? In the US your name is on the deed, but the bank is listed as a lien-holder and has to get their money if you sell or something else happens to the house.
Jack Corbett
Consultant - Straight Path Solutions
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June 4, 2012 at 9:24 am
Steve Jones - SSC Editor (6/4/2012)
An excellent response to Celko: http://www.sqlservercentral.com/Forums/FindPost1310443.aspx
+1
Jason...AKA CirqueDeSQLeil
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June 4, 2012 at 9:30 am
Jack Corbett (6/4/2012)
Brandie Tarvin (6/4/2012)
Gianluca Sartori (6/4/2012)
mtillman-921105 (6/1/2012)
So I suppose a lot of people rent in Europe?70% of Italians own the house they live in.
Well, sort of.
Who owns the house while you're paying the mortgage? You or your bank?
Technically you, but you've given the bank rights to take the house from you when you lent it to them as collateral for the money they gave you to purchase the house.
Confused yet? @=)
At least you own the house in the US, but does it work the same elsewhere? In the US your name is on the deed, but the bank is listed as a lien-holder and has to get their money if you sell or something else happens to the house.
Same over here in South Africa.
June 4, 2012 at 2:26 pm
Jack Corbett (6/4/2012)
Brandie Tarvin (6/4/2012)
Gianluca Sartori (6/4/2012)
mtillman-921105 (6/1/2012)
So I suppose a lot of people rent in Europe?70% of Italians own the house they live in.
Well, sort of.
Who owns the house while you're paying the mortgage? You or your bank?
Technically you, but you've given the bank rights to take the house from you when you lent it to them as collateral for the money they gave you to purchase the house.
Confused yet? @=)
At least you own the house in the US, but does it work the same elsewhere? In the US your name is on the deed, but the bank is listed as a lien-holder and has to get their money if you sell or something else happens to the house.
In Belgium the house is technically on your name, but you signed the mortgage that if you can't pay the loans, they can take your house. If you're in debt, they are on top of the list of people who get their money first.
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June 4, 2012 at 2:55 pm
Koen Verbeeck (6/4/2012)
Jack Corbett (6/4/2012)
Brandie Tarvin (6/4/2012)
Gianluca Sartori (6/4/2012)
mtillman-921105 (6/1/2012)
So I suppose a lot of people rent in Europe?70% of Italians own the house they live in.
Well, sort of.
Who owns the house while you're paying the mortgage? You or your bank?
Technically you, but you've given the bank rights to take the house from you when you lent it to them as collateral for the money they gave you to purchase the house.
Confused yet? @=)
At least you own the house in the US, but does it work the same elsewhere? In the US your name is on the deed, but the bank is listed as a lien-holder and has to get their money if you sell or something else happens to the house.
In Belgium the house is technically on your name, but you signed the mortgage that if you can't pay the loans, they can take your house. If you're in debt, they are on top of the list of people who get their money first.
Banks always are, aren't they?
June 5, 2012 at 2:39 am
To say it with Bertolt Brecht's words: " What is robbing a bank compared to founding a bank?" 😉
-- Gianluca Sartori
June 5, 2012 at 3:12 pm
My buddies and I have tickets to the Victory Suite for tonight's Open Cup match at Livestrong Park. The Victory Suite is usually reserved for cancer survivors (and thankfully their friends).
http://www.livestrongsportingpark.com/premium-seating/[/url]
Free food and an open bar. It opens 2 hours before kick off. I might see you all again by noon tomorrow. 😛
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June 5, 2012 at 3:19 pm
Gianluca Sartori (6/5/2012)
To say it with Bertolt Brecht's words: " What is robbing a bank compared to founding a bank?" 😉
From what I've seen of the banking crisis here in the U.S., I don't believe there's much difference anymore.
--Jeff Moden
Change is inevitable... Change for the better is not.
June 5, 2012 at 3:26 pm
Jeff Moden (6/5/2012)
Gianluca Sartori (6/5/2012)
To say it with Bertolt Brecht's words: " What is robbing a bank compared to founding a bank?" 😉From what I've seen of the banking crisis here in the U.S., I don't believe there's much difference anymore.
Couldn't agree more.
Some months ago a sales rep from my bank called me on the phone offering loans with a very "convenient interest rate".
My reply was along the lines of "Well, how convenient? As convenient as the one I'm lending my money to you?"
-- Gianluca Sartori
June 5, 2012 at 3:32 pm
I love the fact that my bank keeps offering me an overdraft1 at reasonable rates, even though I have more than 5 times the overdraft amount in my account. What exactly do they think I need an overdraft for?
1) In case that's a South African term, an overdraft is when the bank allows you to run your account into the negative to a certain limit. It's not a loan, because it doesn't have fixed repayment terms, just the ability to withdraw money until your account reaches -x instead of 0. Useful if you expect to have a very short period with the account below 0.
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability
June 5, 2012 at 5:05 pm
GilaMonster (6/5/2012)
I love the fact that my bank keeps offering me an overdraft1 at reasonable rates, even though I have more than 5 times the overdraft amount in my account. What exactly do they think I need an overdraft for?1) In case that's a South African term, an overdraft is when the bank allows you to run your account into the negative to a certain limit. It's not a loan, because it doesn't have fixed repayment terms, just the ability to withdraw money until your account reaches -x instead of 0. Useful if you expect to have a very short period with the account below 0.
Same term here in the states, and we call it Overdraft protection. Usually though you have to cover one account with another (ie: checking covered by savings). There are rare occassions where you do get true overdrafting, but it's usually penalized pretty heavily.
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June 5, 2012 at 5:25 pm
It's dependant on good credit ratings here and all sorts of other stuff.
What amuses me is that I have two accounts with this bank, cheque and savings. They're offering me an overdraft for x when I have around 5*x in the cheque account and more than that in the savings. They think that if they offer an overdraft I'm suddenly going to go on a major spending spree or something?
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability
June 5, 2012 at 8:07 pm
GilaMonster (6/5/2012)
It's dependant on good credit ratings here and all sorts of other stuff.What amuses me is that I have two accounts with this bank, cheque and savings. They're offering me an overdraft for x when I have around 5*x in the cheque account and more than that in the savings. They think that if they offer an overdraft I'm suddenly going to go on a major spending spree or something?
Nope - they know you are a safe-to-deal-with customer and they hope that you will get into minus on your checking account, and they will charge you something like $10-15 for transferring money from your savings account to your checking account to "protect your credit rating."
Which is pure gravy to them, and that's what they want you to sign for.
June 6, 2012 at 2:54 am
Revenant (6/5/2012)
Nope - they know you are a safe-to-deal-with customer and they hope that you will get into minus on your checking account, and they will charge you something like $10-15 for transferring money from your savings account to your checking account to "protect your credit rating."
Except that transfers between linked accounts are absolutely free with the options I have. I transfer money between cheque and savings every month. Transfers to my credit card are also free unless done via telephonic banking, which I never use
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability
June 6, 2012 at 4:53 am
GilaMonster (6/6/2012)
Revenant (6/5/2012)
Nope - they know you are a safe-to-deal-with customer and they hope that you will get into minus on your checking account, and they will charge you something like $10-15 for transferring money from your savings account to your checking account to "protect your credit rating."Except that transfers between linked accounts are absolutely free with the options I have. I transfer money between cheque and savings every month. Transfers to my credit card are also free unless done via telephonic banking, which I never use
It's data mining at its best worst. They see you as a customer with fundage and see that you're transferring money yourself. If they offer you the automatic version, they make money and "you don't have to worry about it anymore." Like Revenant said. Pure gravy. Assuming they can get you to sign up for it.
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