Saw news report on Las Vegas

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Submitted by Dunerookie on September 19, 2008 - 8:18am

So I caught a news report about Las Vegas housing. Long story short they interviewed a young couple in mortgage distress. The news person asked how would you like to be able to refi into a 30 fixed. The lady replied "that would be great as long as my payment didn't go up." OMG!! I almost blew a blood vessel. These people are wacked. You gamble on a mortgage with a toxic loan with very low or no interest teaser thinking you can just keep floating with the rapid increase in values. NOT. Now they expect someone to wave a magic wand and make it all better. They deserve to loose the house as far as I am concerned.

Sorry just needed to vent. I feel a little better now. Thanks for listening.

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Dunerookie wrote:So I caught
Submitted by ibjames on September 19, 2008 - 8:57am.

Dunerookie wrote:
So I caught a news report about Las Vegas housing. Long story short they interviewed a young couple in mortgage distress. The news person asked how would you like to be able to refi into a 30 fixed. The lady replied "that would be great as long as my payment didn't go up." OMG!! I almost blew a blood vessel. These people are wacked. You gamble on a mortgage with a toxic loan with very low or no interest teaser thinking you can just keep floating with the rapid increase in values. NOT. Now they expect someone to wave a magic wand and make it all better. They deserve to loose the house as far as I am concerned.

Sorry just needed to vent. I feel a little better now. Thanks for listening.

ha ha.. no problem?

I sure hope that doesn't happen though.. these days.. I can imagine them adjusting all the loans or something stupid to keep buyers in houses.

That is called the American
Submitted by donaldduckmoore on September 19, 2008 - 1:14pm.

That is called the American Dream.