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Buying Your Home And Making You Homeless

Buying Your Home And Making You Homeless

Is it true that most Mortgage Banking institutions know that you are doomed to fail but do it anyway because it is beneficial to their growth?

Homeless Making Home Buying

Ignore the "Low Interest" and focus on the "Adjustable". Never take out a Mortgage where the interest can be adjusted upwards!

Buying Your Home And Making You Homeless History & Civil Business Politics

Name: Beep
Country:

Comments: Adjustable mortgages should be made to never increase but only decrease and if they do increase it should be on the original rate and not above it.

Homeless Making Home Buying

US Poverty Rate Expected to Post a Record Increase
By Hope Yen

Should those estimates hold true, some 45 million people in this country, or more than 1 in 7, were poor last year. It would be the highest single-year increase since the government began calculating poverty figures in 1959. The previous high was in 1980 when the rate jumped 1.3 percentage points to 13 percent during the energy crisis. Ref. Source 8

Homeless Making Home Buying

An adjustable rate mortgage is evil and was invented to rob you of your life. The government is taking too long in making a general policy about these things and the home buyers are the ones paying the price of their own folly.

Buying Your Home And Making You Homeless

I do not think an adjustable mortgage is wrong or bad. It can be good I personally have benefited from them. You must how ever be able to pay twice a low rate just to be safer.

I miss the 25 year fixed interest mortgages of my sisters generation and my parents.

How ever recall this if you go flexible rate you are fist to get kicked out if the rates go double digit. Remember you buddy on a fixed rated he will join you in 6 months to three years. Why because when renegotiating a 5 year rate it to will be in the double digits.

I think it is safer to say you really need to get 25% down if possible then not take the maximum mortgage but rather the mortgage you can afford if the rates to go double digit.

Going to far in debt is why these people lost home. Also the real estate property value drop so much that the mortgage was worth more then the home. Then the bank demands that difference up front and who has $150,00 laying around to give them. So the bank get another house they can not sell dropping prices even lower.

Perhaps a lower debt ratio should be the mandate of the day. Oh but isn't the economy driven by the lies of buying on credit.

Buying Home Making Homeless

Its dreadful that this has to happen to good people who sometimes make bad decisions or are just unfortunate casualties of a greedy system.

Buying Home Making Homeless Politics Business Civil & History

Name: Oneofthose
Country:

Comments: I was one of the ones that ended up 'homeless'. It was a hard way to learn that you can't rest all your eggs in one basket. Counting on just your job to pay for your home is not so great if there could be a terrorist attack like 9/11 to send you packing.