http//biz.yahoo.com/brn/081029/23677.html?..pf=family-home<br />
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Read number 14. What really sticks out to me is My wife and I did not even know what types of loan we are getting. At that point, we had no choice but to finish the deal and unload the truck. The settlement agent did not know anything about the other terms and conditions. She suggested we should get more detail from Blood-sucking Mortgage<br />
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You did have a choice... dont f**ing sign, stupid. <br />
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This article sums up my main problem with the housing crisis. People knew that they were getting into a bogus loan, signed anyway, and now blame it on everyone else. Loan docs have about 60 pages explaining the loan backwards and forwards.<br />
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Anyone else have an issue with this?<br />
agent smith - Id be happy to explain amortization to you. I can knock that book from 10000 pages to about 1. its not hard. Did you even see mccain in the question? Do you even know what the word amortization means? I could draw you a graph of how every one of these loans works... but im afriad if you dont know what a rectangle is you might have difficulty with it.<br />
tribeca belle - again, this whole woah is me attitude for poor uneducated america. IF YOU CANT READ, YOU SHOULDNT HAVE A MORTGAGE. you dont have to be educated to read in plain letters where the loan docs say ADJUSTABLE RATE MORTGAGE. its in huge letters on the note. doesnt take a rocket scientist to figure out that adjustable does not mean fixed<br />
Let me be clear about something, to all the pity hearted fools that think america was taken blindly... I worked in mortgage. I advised people properly, against risky notes. THEY DIDNT CARE. they just wanted what they wanted. and now are complaining that it didnt work out. Are you really telling me that it is not someones fault for getting into a 500K home on 2K a month salary? Any moron knows thats a bad idea. everyone had dollar signs in their eyes. greed got the best of americans. WE ARE NOT VICTIMS<br />
Gunny C - perfectly stated. my point exactly.<br />
<br />
Read number 14. What really sticks out to me is My wife and I did not even know what types of loan we are getting. At that point, we had no choice but to finish the deal and unload the truck. The settlement agent did not know anything about the other terms and conditions. She suggested we should get more detail from Blood-sucking Mortgage<br />
<br />
You did have a choice... dont f**ing sign, stupid. <br />
<br />
This article sums up my main problem with the housing crisis. People knew that they were getting into a bogus loan, signed anyway, and now blame it on everyone else. Loan docs have about 60 pages explaining the loan backwards and forwards.<br />
<br />
Anyone else have an issue with this?<br />
agent smith - Id be happy to explain amortization to you. I can knock that book from 10000 pages to about 1. its not hard. Did you even see mccain in the question? Do you even know what the word amortization means? I could draw you a graph of how every one of these loans works... but im afriad if you dont know what a rectangle is you might have difficulty with it.<br />
tribeca belle - again, this whole woah is me attitude for poor uneducated america. IF YOU CANT READ, YOU SHOULDNT HAVE A MORTGAGE. you dont have to be educated to read in plain letters where the loan docs say ADJUSTABLE RATE MORTGAGE. its in huge letters on the note. doesnt take a rocket scientist to figure out that adjustable does not mean fixed<br />
Let me be clear about something, to all the pity hearted fools that think america was taken blindly... I worked in mortgage. I advised people properly, against risky notes. THEY DIDNT CARE. they just wanted what they wanted. and now are complaining that it didnt work out. Are you really telling me that it is not someones fault for getting into a 500K home on 2K a month salary? Any moron knows thats a bad idea. everyone had dollar signs in their eyes. greed got the best of americans. WE ARE NOT VICTIMS<br />
Gunny C - perfectly stated. my point exactly.<br />