Matt
Take me down to the paradise city
Premium
join:2003-07-20
Jamestown, NC
 ·North State Commun..
| said by wentlanc  :I don't disagree with you there. But the people who got screwed with subprime mortgages would not likely be saved by lowering their cable bill by $20, or eliminating it and saving $70. cw I agree, but I was more pointing out that the people who are in that situation probably wouldn't cancel their cable ... they probably aren't willing to sacrifice. They'd rather have someone else bail them out or pay their own way. Sacrifice is hard, hand-outs aren't. (Look at the Home Makeover family as a perfect example.)
I bought a house two years ago and my credit wasn't the best. They tried to throw all sort of "creative" financing at me so I could get the house I really wanted, but I stopped myself and actually researched. I consulted with friends who own houses, read online about the different loan types they were throwing at me. I wound up with a $50k cheaper house - with a more expensive 30-year fixed mortgage - but there won't be any surprises and I know my payment will be easier to make over time and my interest rate won't budge.
I guess what I'm getting at, is I can sympathize with the people who were taken advantage of, but they bear just as much responsibility for letting themselves get into the situation as the predatory lenders who took advantage of them. |
