Thoughts on the Mortgage "Crisis"
Posted By: Dr. Frugal in Loans on 12/13/2007 at 06:45:16
You know what I have to say to you banks who went out of your way to get bad credit people to take out your 30% loans· Have a Merry Christmas! I have no compassion for you and I have no compassion for your clients, who the government is now about to help. If you can't afford a house, don't buy one. My wife and I were married for eight years before we bought our first house. We both have 800+ credit and could have easily gotten one before we turned 30 but we didn't. Why· Because we couldn't comfortably afford one with two kids until then. When we did buy we put down 20% and got a fantastic rate--we are completely unaffected by this mortgage "crisis". I guess this is turning into an I-told-you-so and that's not very nice but still. It's called saving for a reason--so you have money when you need it.
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