Isn't it ironic that

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Isn't it ironic that

Chesspiece_face Offline

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#36

09-25-2008, 10:42 PM

Quote:I have watched people at work foreclose, I have watched family members foreclose. Every one who I've talked to the story is one of two things:
1) They were too dumb to know what would actually happen with an adjustable rate mortgage once interest rates were no longer at historic lows and they couldn't just refinance again next year to continue the super-low rate.

2) In addition to number 1, they were SO DUMB that they refinanced a solid fixed rate loan that they could afford into an adjustable rate loan that also took equity out of their house so that their initial payment was about the same as their old fixed rate loan.

I'll add:

3) They built a new house and could have afforded the loans they took out even if the rates went up, but they were too stupid to realize that the initial property taxes they were paying were based on an empty lot and the next year when the property was a completed house those taxes would rocket up.

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Messages In This Thread

Isn't it ironic that - by Tris - 09-21-2008, 09:43 PM

Isn't it ironic that - by --Pete - 09-21-2008, 09:51 PM

Isn't it ironic that - by Jester - 09-22-2008, 09:25 AM

Isn't it ironic that - by Crusader - 09-22-2008, 01:59 PM

Isn't it ironic that - by Delc - 09-22-2008, 02:03 PM

Isn't it ironic that - by --Pete - 09-22-2008, 03:43 PM

Isn't it ironic that - by Jester - 09-22-2008, 04:03 PM

Isn't it ironic that - by --Pete - 09-22-2008, 04:17 PM

Isn't it ironic that - by roguebanshee - 09-22-2008, 04:35 PM

Isn't it ironic that - by --Pete - 09-22-2008, 04:54 PM

Isn't it ironic that - by Chesspiece_face - 09-22-2008, 06:14 PM

Isn't it ironic that - by Kevin - 09-22-2008, 06:59 PM

Isn't it ironic that - by --Pete - 09-23-2008, 12:32 AM

Isn't it ironic that - by --Pete - 09-23-2008, 01:46 AM

Isn't it ironic that - by kandrathe - 09-23-2008, 06:37 AM

Isn't it ironic that - by shoju - 09-23-2008, 01:43 PM

Isn't it ironic that - by kandrathe - 09-23-2008, 02:00 PM

Isn't it ironic that - by Zenda - 09-23-2008, 02:02 PM

Isn't it ironic that - by Delc - 09-23-2008, 02:24 PM

Isn't it ironic that - by kandrathe - 09-23-2008, 03:14 PM

Isn't it ironic that - by kandrathe - 09-23-2008, 03:16 PM

Isn't it ironic that - by Colonel_here - 09-23-2008, 03:46 PM

Isn't it ironic that - by --Pete - 09-23-2008, 04:46 PM

Isn't it ironic that - by roguebanshee - 09-23-2008, 05:03 PM

Isn't it ironic that - by kandrathe - 09-23-2008, 05:14 PM

Isn't it ironic that - by Zenda - 09-23-2008, 09:10 PM

Isn't it ironic that - by kandrathe - 09-23-2008, 11:23 PM

Isn't it ironic that - by Colonel_here - 09-24-2008, 02:45 PM

Isn't it ironic that - by Zenda - 09-24-2008, 03:10 PM

Isn't it ironic that - by kandrathe - 09-24-2008, 08:09 PM

Isn't it ironic that - by Zenda - 09-24-2008, 10:16 PM

Isn't it ironic that - by Chesspiece_face - 09-24-2008, 11:26 PM

Isn't it ironic that - by Zenda - 09-25-2008, 10:26 AM

Isn't it ironic that - by kandrathe - 09-25-2008, 03:40 PM

Isn't it ironic that - by Concillian - 09-25-2008, 09:07 PM

Isn't it ironic that - by Chesspiece_face - 09-25-2008, 10:42 PM

Isn't it ironic that - by Jester - 09-26-2008, 09:24 AM

Isn't it ironic that - by Zenda - 09-26-2008, 10:43 AM

Isn't it ironic that - by Jester - 09-26-2008, 12:04 PM

Isn't it ironic that - by kandrathe - 09-26-2008, 02:27 PM

Isn't it ironic that - by Zenda - 09-26-2008, 03:36 PM

Isn't it ironic that - by Jester - 09-26-2008, 05:59 PM

Isn't it ironic that - by Zenda - 09-27-2008, 02:03 PM

Isn't it ironic that - by kandrathe - 09-27-2008, 02:37 PM

Isn't it ironic that - by Concillian - 09-27-2008, 03:39 PM

Isn't it ironic that - by kandrathe - 09-28-2008, 05:20 PM

Isn't it ironic that - by --Pete - 09-28-2008, 05:35 PM

Isn't it ironic that - by Occhidiangela - 09-29-2008, 11:03 PM

Isn't it ironic that - by Occhidiangela - 09-29-2008, 11:07 PM

Isn't it ironic that - by Occhidiangela - 09-29-2008, 11:09 PM

Isn't it ironic that - by Taem - 09-30-2008, 01:57 AM

Isn't it ironic that - by eppie - 09-30-2008, 06:47 AM

Isn't it ironic that - by kandrathe - 09-30-2008, 10:52 AM

Isn't it ironic that - by Jester - 09-30-2008, 11:11 AM

Isn't it ironic that - by eppie - 09-30-2008, 11:43 AM

Isn't it ironic that - by kandrathe - 09-30-2008, 12:45 PM

Isn't it ironic that - by eppie - 09-30-2008, 01:34 PM

Isn't it ironic that - by Jester - 09-30-2008, 02:00 PM

Isn't it ironic that - by eppie - 09-30-2008, 02:42 PM

Isn't it ironic that - by Delc - 09-30-2008, 03:04 PM

Isn't it ironic that - by kandrathe - 09-30-2008, 03:40 PM

Isn't it ironic that - by --Pete - 09-30-2008, 04:29 PM

Isn't it ironic that - by Jester - 09-30-2008, 05:18 PM

Isn't it ironic that - by --Pete - 09-30-2008, 05:36 PM

Isn't it ironic that - by kandrathe - 09-30-2008, 06:28 PM

Isn't it ironic that - by kandrathe - 09-30-2008, 06:44 PM

Isn't it ironic that - by --Pete - 09-30-2008, 11:24 PM

Isn't it ironic that - by Occhidiangela - 10-01-2008, 02:59 AM

Isn't it ironic that - by kandrathe - 10-01-2008, 03:54 PM

Isn't it ironic that - by eppie - 10-01-2008, 04:54 PM

Isn't it ironic that - by Tris - 10-01-2008, 05:07 PM

Isn't it ironic that - by Jester - 10-01-2008, 05:42 PM

Isn't it ironic that - by kandrathe - 10-01-2008, 05:54 PM

Isn't it ironic that - by Tris - 10-01-2008, 06:03 PM

Isn't it ironic that - by Jester - 10-01-2008, 06:06 PM

Isn't it ironic that - by eppie - 10-01-2008, 06:20 PM

Isn't it ironic that - by Delc - 10-01-2008, 06:33 PM

Isn't it ironic that - by kandrathe - 10-01-2008, 06:41 PM

Isn't it ironic that - by Tris - 10-01-2008, 06:42 PM

Isn't it ironic that - by kandrathe - 10-01-2008, 06:46 PM

Isn't it ironic that - by Tris - 10-01-2008, 07:05 PM

Isn't it ironic that - by Jester - 10-02-2008, 09:16 AM

Isn't it ironic that - by Zenda - 10-02-2008, 03:03 PM

Isn't it ironic that - by kandrathe - 10-02-2008, 07:34 PM

Isn't it ironic that - by Occhidiangela - 10-04-2008, 05:54 PM

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