Rusty- $14k for a Sentra…sheesh… ouch! Takes a man to admit such things.
I was a boy when it happened. 19.
I am just saying we screw up were are going to be angry at with those huckster’s that help us do it. I never had problems with the concept of future income stream after paying 1/5 of my enlisted man’s salary on that car for most of my six year tour in the navy. I guess in retrosprect it was a good lesson.
I fired my first mortgage broker 9 days prior to closing escrow for refusing to put my rate and terms in writing. I paid the seller $100 a day for going over the agreed escrow and the learning curve has been good since.BTW Many of these mortgage brokers have an MBA or other finance related degree.Even if they don’t, the owner or the directors do. I don’t excuse someone,who on the one hand,holds himself up as superior because of an education,usually in order to attract business, but then sets ignorant people up for financial disaster.
Yes JWM I agree that at least 95% of the posters here are more sophisticated in finacial matters, by a long shot, than the average FB or me for that matter. That is part of why I can’t understand the frequent statements of antipathy and why people are not up in arms with the FED and the hucksters. The FED’s and the Gov. lack of oversight and building of a pyramid scheme ,set loose on the ignorant GF’s to the ruin of a stable housing market. The smart people caused you not to be able to participate in an economy with regards to reasonable housing, in a location where you can find the best work suited to your education, not the ignorant ones.
I do really understand why most people here are not making too big of a fuss. They understand that they couldn’t influence things one way or the other.However, if we are going to blame the FB’s ,not for their own demise, but for the destruction of a sane market than we are helping the responsible parties avoid the criticism they so deserve and rubbing salt in the wounds of people that, to some degree, are unfortunate.
