The first subprime crisis was caused when lenders were required to give loans to people who couldn’t get credit. The terms were written to try and salvage something from a bad deal. Then they were bundled into securities, that really were not secure, and put on the stock market.
The axiom of follow the money was in full view, but nobody saw the man behind the curtain.
Anybody who accepts a variable rate mortgage is too financially ignorant to own a home, if you have the money to not care what your biggest bill will cost why get a mortgage?
This is only my opinion, and yours may vary, but paying on a sub prime mortgage smells a lot like renting, you never build equity.
One thought on “They’ll Never Learn”
The first subprime crisis was caused when lenders were required to give loans to people who couldn’t get credit. The terms were written to try and salvage something from a bad deal. Then they were bundled into securities, that really were not secure, and put on the stock market.
The axiom of follow the money was in full view, but nobody saw the man behind the curtain.
Anybody who accepts a variable rate mortgage is too financially ignorant to own a home, if you have the money to not care what your biggest bill will cost why get a mortgage?
This is only my opinion, and yours may vary, but paying on a sub prime mortgage smells a lot like renting, you never build equity.