Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
3147 Hours
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="trplnkl" data-source="post: 458139" data-attributes="member: 13254"><p>I agree because what you just posted is pretty much the deffinition of living above your means, people shouldn't buy houses they can afford. </p><p></p><p> The real problem is multi-fold and spread out. First you have people wanting to live in houses they can not afford and apparently are not wise enough to know that the interest rates WILL go UP sooner or later. Then you have mortgage lenders that want to capitalize on the dumba.. laws that allow them to lend on questionable credit scores and don't really care if the borrower can repay the loan or not(because they are going to sell that worthless paper to another bank anyway). I would be willing to bet that the majority of people that have gotten into financial trouble because of this type of mortgage are also in credit card debt up to the wazoo. </p><p> Consumer, " I really can't afford this $3,000 stereo....what the heck I'll put it on my Visa card cuz I want it, and I can make that (minimum) card payment. (forever)" then by the time the get the stereo paid for (if they ever do) it cost them 6 grand.</p></blockquote><p></p>
[QUOTE="trplnkl, post: 458139, member: 13254"] I agree because what you just posted is pretty much the deffinition of living above your means, people shouldn't buy houses they can afford. The real problem is multi-fold and spread out. First you have people wanting to live in houses they can not afford and apparently are not wise enough to know that the interest rates WILL go UP sooner or later. Then you have mortgage lenders that want to capitalize on the dumba.. laws that allow them to lend on questionable credit scores and don't really care if the borrower can repay the loan or not(because they are going to sell that worthless paper to another bank anyway). I would be willing to bet that the majority of people that have gotten into financial trouble because of this type of mortgage are also in credit card debt up to the wazoo. Consumer, " I really can't afford this $3,000 stereo....what the heck I'll put it on my Visa card cuz I want it, and I can make that (minimum) card payment. (forever)" then by the time the get the stereo paid for (if they ever do) it cost them 6 grand. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
3147 Hours
Top