President Joe Biden - Kamala Harris Administration

#15,826
#15,826
Orangeburst said:
wonder how many idiots chose an ARM?
Throw in inflation and this is going to be a wild ride
Click to expand...

I'll never forget when I 1st moved to Sarasota in late '04 when I worked with RBC Centura Bank. I became friends with one of the mortgage lenders. Every now and then we'd go to lunch. Our bank had this ARM product that was sort of an 80/20 wrap-around loan that would fund 100% but split it to where 20% satisfied the PMI....or something like that. To qualify, you had to have a 650 mid-score between the 3 credit bureaus and a stated income statement. That's all. No wonder it all went down like a turd in a 40 ft. well.
 
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#15,828
#15,828
TNVOLNAVY said:
Every person I know in the 25 to 45 year old range is up to their eyeballs in debt yet they show no signs of concern and continue to pile it on.
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Curious what your dollar amount range is for “up to their eyeballs”? Serious question, not being a smartass
 
#15,829
#15,829
With high inflation and debt the Feds will not have any bullets
I dare say that is when the greenback will lose it world currency status and replaced with a crypto.
One way to tame the beast I guess
And America will finally e tamed and subject
 
#15,831
#15,831
VolnJC said:
Also not sure with the last housing crisis that mortgage companies had index fund and foreign buyers lined up...there is no incentive for them to work with struggling homeowners
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The difference between now and 2008 is that due to the huge increases in home prices, "struggling homeowners" can actually sell their homes for a profit if they can't afford to make their mortgage payments. In 2008, they couldn't do that because home prices plunged.
 
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#15,833
#15,833
TNVOLNAVY said:
Every person I know in the 25 to 45 year old range is up to their eyeballs in debt yet they show no signs of concern and continue to pile it on.
Click to expand...
Every one huh? Then you know a lot of stupid people. Most of the ones I know are doing very well right now
 
#15,834
#15,834
Orangeburst said:
With high inflation and debt the Feds will not have any bullets
I dare say that is when the greenback will lose it world currency status and replaced with a crypto.
One way to tame the beast I guess
And America will finally e tamed and subject
Click to expand...
Interesting word choice.
 
#15,844
#15,844
FA3K7cmVEAY32Gg
 
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