Ask Questions - Get Answers [ Investing - Welcome ]

Monday 1st December 2008 09:52:32 PM

Home/Business & Economy/Investing

Question Board

Return to Question Board

Question Details	Asked By	Asked On
Municipal Bond	SCOOBY	02/04/04
I met with a banker in my area who offered me a 7 year Municipal bond with MetLife at a flexible rate. The rate would fluxuate up or down depending on the market but would never go below 3% regardless, but for the first year they guarantee 4%. And if I withdraw the money the first year, the penalty would be 7% for the first year, the second 6% and the 3rd 5% etc, etc. But what I'm not sure about, is that it is not guaranteed by the government. What happens if this company goes bankrupt? Will I lose my money completely as in the case of those investors that invested with Enron? I haven't heard much about what sort of consequences that company suffered as a result and not sure if other companies will start following in their footsteps and go bankrupt. Am I better off investing in a government bond? I'm am not employed so I am not sure tax deferred would work to my advantage if I am not filing taxes at this time. SIPC seems like is the company that the bank agent mentioned would protect my investment but not sure if that means that if LifeMet goes bankrupt if I would be able to get my money back. How does this sort of investment seem to you. Can I possibly find a better way to invest than this? Thank you
Clarification/Follow-up by SCOOBY on 02/05/04 4:27 am: what is a safe trust deed? Clarification/Follow-up by SCOOBY on 02/05/04 4:30 am: who do you sell your safe trust deed to when you want to sell it? Clarification/Follow-up by SCOOBY on 02/05/04 5:31 am: Hello Thank you for the excellent advice. I called 3 mortgage companies here and no one seems to know what they are. But I did find one company that advertises them in the newspaper when they have some for sale. What do you mean by "for time being paid on?" I found a company on the web that sells them http://www.mtclaw.com/ptdi/ How do I find out if this is a ligitimate and trustworthy company to do business with? I will keep my eye out. Thanks.

Summary of Answers Received	Answered On	Answered By	Average Rating
1. meeting with robbers gets u robbed. meeting with beautiful l...	02/05/04	kkemper
2. a; a safe one is one that u have researched; for time being ...	02/05/04	kkemper
3. the better business bureau and the banking commissioner and ...	02/05/04	kkemper
4. What did you find out about them?...	12/04/05	katiy

Your Options
Additional Options are only visible when you login! !

vq/In © Copyright 2002-2008 Answerway.org. All rights reserved. User Guidelines. Expert Guidelines.
Privacy Policy. Terms of Use. Make Us Your Homepage. Bookmark Answerway.