Failing Financial Institutions

  • kc0tma
  • o|||||||o
  • Web Master
  • User avatar
  • Posts: 3318
  • Loc: Trout Creek, MT

Post 3+ Months Ago

I spend almost an entire paycheck just on rent.
  • digitalMedia
  • a.k.a. dM
  • Genius
  • User avatar
  • Posts: 5149
  • Loc: SC-USA

Post 3+ Months Ago

grinch2171 wrote:
When I bought my house I was offered an ARM. I asked about it and when it was explained I asked if people actually sign up for that. It is the stupidest thing ever in my opinion. I also qualified for a mortgage I could never afford and was quite amazed. During my house hunting I looked at getting a house built. When I sat down with the agent and configured the house to my liking, which wasn't extravagant, I was told the monthly payment would equal one of my paychecks and she was ready to sign me up. I was floored. There was no way in hell I would spend one paycheck on a mortgage. Lucky for me I qualified as a first time home buyer and got a kick ass interest rate and found a very nice house I could easily afford.


That's almost exactly my experience. One guy kept saying, "The payment might even go down!." I kept saying, "Yeah, but it might also go way up." At the time the ARM payment was a few dollars cheaper according to their calculations, the guy tried to make me feel like I was an idiot.
  • digitalMedia
  • a.k.a. dM
  • Genius
  • User avatar
  • Posts: 5149
  • Loc: SC-USA

Post 3+ Months Ago

kc0tma wrote:
I spend almost an entire paycheck just on rent.


KC, I don't know your fix and I wouldn't pretend to, but I spent most of my 20's as broke as anyone could be. I know a lot of my friends had similar experiences.

I'm not justifying you using an entire paycheck on rent. I'm just saying I was there once and it gets better, eventually.
  • Gate2Shop
  • Newbie
  • Newbie
  • User avatar
  • Posts: 10
  • Loc: Europe

Post 3+ Months Ago

If you look at the way AIG handled it you wouldn't think they were having these kind of problems.
  • janekelly
  • Born
  • Born
  • janekelly
  • Posts: 1

Post 3+ Months Ago

According to me it is the time of act not the time of worried.
  • LightningRider
  • Newbie
  • Newbie
  • LightningRider
  • Posts: 9

Post 3+ Months Ago

I think it is going to take a while for all these financial institutions to regain stability. Not to mention the stock market liking Obama also; seems like every time he speaks it plunges.

Post Information

  • Total Posts in this topic: 96 posts
  • Users browsing this forum: No registered users and 41 guests
  • You cannot post new topics in this forum
  • You cannot reply to topics in this forum
  • You cannot edit your posts in this forum
  • You cannot delete your posts in this forum
  • You cannot post attachments in this forum
 
 

© 1998-2014. Ozzu® is a registered trademark of Unmelted, LLC.