Altair: Where Does It End? (3 Viewers)
- Thread starter Bjerknes
- Start date
Five years ago I refinanced my mortgage through Citibank. Boring old 30-year fixed stuff. The kind of thing that will keep the administrator working in the Citibank mail room compared to the sub-prime hot rodders wearing the Armani suits and getting promoted weekly.
So a few buyings and sellings of my mortgage later, and for the past couple of years I've been writing my checks to Washington Mutual -- the latest owner of my mortgage.
So how do I address my check today for the mortgage due October 1?:
"Pay to the order of: Washington Mutual or Current Resident"
So a few buyings and sellings of my mortgage later, and for the past couple of years I've been writing my checks to Washington Mutual -- the latest owner of my mortgage.
So how do I address my check today for the mortgage due October 1?:
"Pay to the order of: Washington Mutual or Current Resident"
money
Even the layman economist has to wonder...
I mean, it wasn't rocket science for me to secure a 30-year fixed mortgage when mortgage rates were near historic lows. So what does that say about people getting all these ARMs, interest-only loans, and the like at the same time? You take out risky, flexible mortgages at rates where there's the highest likelihood of the rates going up?!?!? :confused2 WTF should you be expecting?
And I mean this to both the people taking out these loans as well as the people offering & approving them.
In 2006, TIME's Person of the Year was "You, the Internet User". In 2008, it is shaping up to be, "You, the Dumbass".
I mean, it wasn't rocket science for me to secure a 30-year fixed mortgage when mortgage rates were near historic lows. So what does that say about people getting all these ARMs, interest-only loans, and the like at the same time? You take out risky, flexible mortgages at rates where there's the highest likelihood of the rates going up?!?!? :confused2 WTF should you be expecting?
And I mean this to both the people taking out these loans as well as the people offering & approving them.
In 2006, TIME's Person of the Year was "You, the Internet User". In 2008, it is shaping up to be, "You, the Dumbass".
Sadly, after watching an interesting documentary on IFC called Split: A Divided America this week, I've realized it doesn't matter. Too many people vote without any connection made to economic responsibility whatsoever.
We are truly f%cked. Because we as a people are content to f%ck ourselves.
We are truly f%cked. Because we as a people are content to f%ck ourselves.
