|
The folks that bought my wifes old house bought it with a zero down ARM. They're going to get foreclosed on any day now.
A lot of these loans were sold via the same mechanism that cars are sold: people focus only on the monthly payment figure. "Other stuff" that might happen in a couple of years just isnt relevant.
And arent these homes just going to be worth 25% more next year anyhow?!?
__________________
Many an optimist has become rich by buying out a pessimist
|