A Quote by Paul McCulley

Rightly or wrongly, most Americans look at mortgage equity withdrawal as the closest thing to a free lunch. — © Paul McCulley
Rightly or wrongly, most Americans look at mortgage equity withdrawal as the closest thing to a free lunch.
There's no such thing as a free lunch, unless you have a coupon for a free lunch...or someone gives you a lunch...never mind.
The believers in miracles accept them (rightly or wrongly) because they have evidence for them. The disbelievers in miracles deny them (rightly or wrongly) because they have a doctrine against them.
Virtue also depends on ourselves. And so also does vice. For where we are free to act we are also free to refrain from acting, and where we are able to say No we are also able to say Yes; if therefore we are responsible for doing a thing when to do it right, we are also responsible for not doing it when not to do it is wrong, and if we are responsible for rightly not doing a thing, we are also responsible for wrongly doing it.
It is said that there's no such thing as a free lunch. But the universe is the ultimate free lunch.
But I think that Australians have a sort of independence, and I think that, rightly or wrongly, they tend to make their own decisions as to how a thing has gone. Pioneers are apt to be like that. I think that it's not a bad idea. You can listen to what everybody says, but the fact remains that you've got to get out there and do the thing yourself.
The science of logic never made a man reason rightly, and the science of ethics never made a man behave rightly. The most such sciences can do is to help us to catch ourselves up and check ourselves, if we start to reason or to behave wrongly; and to criticise ourselves more articulately after we have made mistakes.
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.
The highest-income Americans don't need tax-free health insurance, mortgage interest deductions or deferred taxation on retirement funds.
Housing wealth - the net equity held by households, consisting of the value of their homes minus their mortgage debt - is the most important source of wealth for all but those at the very top.
How easy it is to judge rightly after one sees what evil comes from judging wrongly!
You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.
Most Americans, like most Japanese, view their dogs, cats, and other animal companions as family members, and rightly so.
Most startup entrepreneurs unnecessarily spend half their time and give up half their equity in search of funding from angel investors and venture capitalists. Tens of millions of dollars are available to them for free from partners who not only don't want their equity, they don't even want to be paid back.
You are mistaken, my friend, if you think that a man who is worth anything ought to spend his time weighing up the prospects of life and death. He has only one thing to consider in performing any action - that is, whether he is acting rightly or wrongly, like a good man or a bad one.
Rightly or wrongly, as a woman in politics, you're being judged for what you're wearing, and people are paying attention to that more than they do with men.
A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.
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