Broompilot
Veteran Expediter
Not your score, more people know that I would bet than know exactly the terms of the mortgage on the house they own or once owned.
Do you? Do you know your intrest rate? Simple intrest or is it adjustable? I have read over and over in the papers during my travels on stories about pooooor ole Betty and Bob and how they had no idea that the 5% intrest rate they got three years ago with the underlying adjustable that is going to 8 this year and 11 in three more years that the amount they will pay for the monthly mortage is going to more than double.
Heck ole Bob is saying it is a RIP OFF. Well by Bobs calculation he was under the impression that one point meant that the $400 at 5% monthly payment would only go up well gee GET THIS $4.00 FOUR DOLLARS FOR EACH POINT. He had know idea that 1% meant the whole mortage amount of $125,000.00 and is now facing FORECLOSURE. Poor Bob he did not read the fine print let alone have a LAWYER represent him in the closing. He had no idea they got him for Credit Life, and a few more fees here and there let alone the rules of the subdivision would not let him Park his Big Rig in the front yard and he got sued and that was tacked onto the property as an unpaid lawsuite he lost.
I am telling you this casue I actually read it, of course the paper was making it out to be that the BIG BAD LENDER had really taken advatnage of ole Bob and Betty. iT WILL AND DOES HAPPEN, BETTER KNOW WHAT YOUR SIGNING BEFORE YOU SIGN. It can happen on a house and sure is much easier to happen on a LEASE PURCHASE of a Truck let alone multiple ove r and over lease's.
Do you know how many credit cards you actually have a balance on? The Rates? The amounts you owe? The total of all amounts you owe? According to the paper most do not and this is how America is becomming further behind on not only Credit Cards but now the House they own. Boy sounds just like Washington D.C. does it not?
Do you? Do you know your intrest rate? Simple intrest or is it adjustable? I have read over and over in the papers during my travels on stories about pooooor ole Betty and Bob and how they had no idea that the 5% intrest rate they got three years ago with the underlying adjustable that is going to 8 this year and 11 in three more years that the amount they will pay for the monthly mortage is going to more than double.
Heck ole Bob is saying it is a RIP OFF. Well by Bobs calculation he was under the impression that one point meant that the $400 at 5% monthly payment would only go up well gee GET THIS $4.00 FOUR DOLLARS FOR EACH POINT. He had know idea that 1% meant the whole mortage amount of $125,000.00 and is now facing FORECLOSURE. Poor Bob he did not read the fine print let alone have a LAWYER represent him in the closing. He had no idea they got him for Credit Life, and a few more fees here and there let alone the rules of the subdivision would not let him Park his Big Rig in the front yard and he got sued and that was tacked onto the property as an unpaid lawsuite he lost.
I am telling you this casue I actually read it, of course the paper was making it out to be that the BIG BAD LENDER had really taken advatnage of ole Bob and Betty. iT WILL AND DOES HAPPEN, BETTER KNOW WHAT YOUR SIGNING BEFORE YOU SIGN. It can happen on a house and sure is much easier to happen on a LEASE PURCHASE of a Truck let alone multiple ove r and over lease's.
Do you know how many credit cards you actually have a balance on? The Rates? The amounts you owe? The total of all amounts you owe? According to the paper most do not and this is how America is becomming further behind on not only Credit Cards but now the House they own. Boy sounds just like Washington D.C. does it not?
