BG – I agree. IMO, a 40-year loan is not helping anyone. They should’ve walked and worked on their credit, then buy a home for 250k at a 30-year fixed, even at 5% and they would be better off.
I hope this is truly an amazing home that they LOVE. I could not imagine trapping myself like that.
Edit: I’m in the process of reading this. I got to the part that Natalie was as a mortgage processor for a division of Countrywide Financial. And she still did a no doc ARM? Man. People are just as dumb as rocks. She’s in the industry. WTH.
