Foreclosure

May 13th, 2008

Foreclosure

How Did That Happen?

I have to admit, I don’t really understand the foreclosure “crisis” we’re seeing here in the United States.

If a homeowner loses their job and is unable to find another for an extended period of time, I can see a potential problem. But, how the hell are so many people so clueless about their mortgages?

How can someone sign a 3 year adjustable rate mortgage without understanding that at the end of 3 years, the rate is going to adjust?

How can this be a surprise to anyone?

How can you make what is usually the biggest purchase in your life, without reading and understanding all of the agreement?

Honestly, I just don’t get it…

This entry was posted on Tuesday, May 13th, 2008 at 1:57 pm and is filed under Misc. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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