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for the seconds they used to buy stuff with

Italian translation: seconde ipoteche usate per acquisti di beni

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:for the seconds they used to buy stuff with
Italian translation:seconde ipoteche usate per acquisti di beni
Entered by: Manuela Gorini

07:57 Aug 15, 2012
English to Italian translations [PRO]
Bus/Financial - Economics
English term or phrase: for the seconds they used to buy stuff with
Questo è il contesto, si riferisce alla bolla immobiliare che ha scatenato la crisi finanziaria mondiale:

Second, we had to bring people to their knees financially. So we hyped the dot coms and the lemmings bought the stock. We busted them and they lost their investments and retirement. We teased them with low interest rates and a housing bubble. The house became the new piggy bank, generating thousands a month in income. People refinanced and bought all those things they always wanted. Then the bubble popped and people lost their homes but kept the bills. Banks came after them for the seconds they used to buy stuff with. Home equity represented their greatest asset – now gone for millions (and by the way, this happened all around the world).
Manuela Gorini
Local time: 02:48
seconde ipoteche usate per acquisti di beni
Explanation:
Spero di non essere troppo rintronata per il caldo, ma leggendo il brano, e conoscendo il sistema che ha portato alla bolla immobiliare e susseguente crisi, io capisco questo. In pratica, la gente dopo aver sottoscritto un mutuo per la casa, ha poi sottoscritto nuove ipoteche per potersi permettere altri beni (the house became the new piggy bank/people refinanced). Poi, al momento della crisi, le banche hanno richiesto il saldo delle seconde ipoteche/ second mortgages). Si trovano molti esempi su siti finanziari:

Es: Using a Second to Avoid Mortgage Insurance: Borrowers who put down less than 20% on a first mortgage usually must purchase mortgage insurance. However, a borrower can take an 80% first mortgage combined with a 5%, 10%, or 15% second mortgage, and avoid mortgage insurance.
Selected response from:

Giuseppina Vecchia
Italy
Local time: 02:48
Grading comment
3 KudoZ points were awarded for this answer



Summary of answers provided
4per fare il bis con i soldi che servivano a fare acquisti
Raffaella Berry
3 +1seconde ipoteche usate per acquisti di beni
Giuseppina Vecchia
3non appena si abituarono anche loro a comprare prodotti
Lorenzo Carbone
3"quest'altro bocconcino" che la gente utilizzava per fare spese
CristianaC


  

Answers


49 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
non appena si abituarono anche loro a comprare prodotti


Explanation:
-

Lorenzo Carbone
Local time: 02:48
Native speaker of: Italian
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
"quest'altro bocconcino" che la gente utilizzava per fare spese


Explanation:
io interpreto così

prima hanno portato via gli investimenti alla gente (investments and retirement)

poi le banche hanno cercato di prendersi (went after them) la seconda portata (the seconds) : cioè la home equity che era tutto ciò che restava alla gente e che veniva utilizzata per finananziarsi e fare acquisti (people refinanced to buy the things they always wanted).




CristianaC
United Kingdom
Local time: 01:48
Specializes in field
Native speaker of: Native in ItalianItalian, Native in EnglishEnglish
PRO pts in category: 46
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
per fare il bis con i soldi che servivano a fare acquisti


Explanation:
Il linguaggio usato nel testo originale e' molto conciso, e per questo risulta ambiguo. "Fare il bis" mi sembra particolarmente adatto a questo contesto, in cui le banche vengono descritte in tutta la loro voracita' per mezzo della metafora alimentare.

Raffaella Berry
Local time: 20:48
Native speaker of: Italian
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1 day 39 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
seconde ipoteche usate per acquisti di beni


Explanation:
Spero di non essere troppo rintronata per il caldo, ma leggendo il brano, e conoscendo il sistema che ha portato alla bolla immobiliare e susseguente crisi, io capisco questo. In pratica, la gente dopo aver sottoscritto un mutuo per la casa, ha poi sottoscritto nuove ipoteche per potersi permettere altri beni (the house became the new piggy bank/people refinanced). Poi, al momento della crisi, le banche hanno richiesto il saldo delle seconde ipoteche/ second mortgages). Si trovano molti esempi su siti finanziari:

Es: Using a Second to Avoid Mortgage Insurance: Borrowers who put down less than 20% on a first mortgage usually must purchase mortgage insurance. However, a borrower can take an 80% first mortgage combined with a 5%, 10%, or 15% second mortgage, and avoid mortgage insurance.

Example sentence(s):
  • Refinancing a First with a Second: As a general rule, it is not a good idea to take out a second to pay off a first, because seconds are priced higher.
  • Seconds Priced Higher than Firsts: Second mortgages are riskier to lenders than first mortgages

    Reference: http://www.journeyfinancial.com/Home-Equity-Seconds.htm
    Reference: http://www.nakedcapitalism.com/2012/04/some-observations-on-...
Giuseppina Vecchia
Italy
Local time: 02:48
Native speaker of: Native in FrenchFrench, Native in ItalianItalian
PRO pts in category: 11

Peer comments on this answer (and responses from the answerer)
agree  CristianaC: yes, that's it
1 day 13 hrs
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