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Interesting NY Times article about subprime mortgages
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MrsD06
LIF Toddler
Member since 9/07 478 total posts
Name:
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Interesting NY Times article about subprime mortgages
link
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Posted 10/15/07 8:22 PM  |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Re: Interesting NY Times article about subprime mortgages
Call me heartless, but I don't feel bad for these people. They should have read the paperwork.
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| Posted 10/15/07 8:52 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Interesting NY Times article about subprime mortgages
I think there were bad people out there (predators) taking advantage of people. I know when I first bought the house I wanted to know everything there was about the loan and got lots of advice from friends and family. Some people trusted brokers who were unscrupulous. Also, I don't think people though the market would implode.
It's very common unfortunately. I see even the smartest people getting into these messes.
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| Posted 10/15/07 9:40 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Interesting NY Times article about subprime mortgages
i dont feel bad either - thats why i paid attorneys and read my documents very carefully.
i do feel bad for people that were straight up lied to, not for people who knew what they were getting into.
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| Posted 10/15/07 9:48 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: Interesting NY Times article about subprime mortgages
wow - that's scary...especially the part about the $299K house being $5K/month now. Yowsa! All I can say is thank goodness for fixed rate mortgages!!!
ETA: That is, 30yr. fixed mortgages.
Message edited 10/16/2007 12:05:47 PM.
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| Posted 10/16/07 12:05 PM |
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MrsD06
LIF Toddler
Member since 9/07 478 total posts
Name:
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Re: Interesting NY Times article about subprime mortgages
hopefully people will at least learn from all of this craziness..but I'm sure there will be people who don't 
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| Posted 10/16/07 8:28 PM |
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