For those who fell for ARM Mortgage deals that were too good to be true.... they always are...... when Americans are ignorant, stupid and dumb and get in over their heads it is someone else's fault.......
You got it.
With fixed rates at all-time lows, taking out an adjustable-rate loan is so stupid as to defy comprehension. Seriously, it is staggering. Plus, a lot of them have pre-payment penalties! All you can do is shake your head and mutter, "Financial Darwin alert."
Very well said ... and the gov't must step in and do something!
Just once I'd like to those who get into finacial trouble have to get themselves out. Bailing out the ignorant is one way to make sure they stay ignorant.
Told my dad I wanted to learn how to swim, so he thru me in the deep end of the pool. Guess what? I learned how to swim.
>>For those who fell for ARM Mortgage deals that were too good to be true.... they always are...... <<
Not true.
If you are the first in and sell before the pyramid reaches saturation, you make out like a bandit.
Of course, those that got in late and are still holding the bag, well, they just may take the whole economy down with them.
A) public school/NEA =
B) ignorance =
C) economic disaster =
D) more good Democrats
Why not just do another interest only loan? Say at 6% fixed for 5 years? Or why not refinance for a 40 year or even 60 year mortgage at 5.75%?
You don't understand a thing I asked do you? You act like you know, but you really don't understand any of it... stick to buying cars in cash.