The way I see it the Mortgage companies were offering these Finance E-1 and up, LES Accepted as Down Payment home loans. People jump all over them. The Mortgage companies got rich and continue to do so. But instead of just the idiots who signed these loans making them rich, we all get to chip in.
On another note. Hillary's Heath care plan that targeted everyone making over $400,000 per year to pay for it. She calls that the Rich by the way. Just got lowered to targeting everyone making more then $250,000 per year. I guess $250,000 per year is considered rich now.
I guess in a few more months I am going to be rich also. I can't wait. Isn't getting a non fixed interest rate considered gambling. Is anyone who signs these loans actually surprised when they go up.
Quote:
|
That sounds like a textbook example from the books Rich Dad, Poor Dad and The Millionaire Next Door, saying how people tend to buy liabilities instead of true assets
|
Thats a good one to use when you walk in with a new Gun.