Thread: Lowering Rates Won't Work
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Old 01-22-2008, 08:44 PM
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Originally Posted by Straight Cash View Post
It is stupid people who caused the housing problem if you make $100 a month and your house payments are $90 and you signed an ADJUSTABLE mortgage you are an idiot... why not buy a smaller house where the payments are only $65 and get a higher rate fixed mortgage?
You are right, but it's also the idiot bankers who already knew they wouldn't be able to stay above water, with an ARM loan. Sorry, but if bankers are going to gamble like that, then they need to take the bad with the good.
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