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Reverse mortgage! Good one. There are probably steep points and start-up fees, not to mention pre-payment penalties and humongous baloon payments at the end of the rainbow.
“It’s gotta be the biggest no brainer in the history of mankind ”
… Just kidding. Two words: Negative Amortization
I heard a lawyer ad on 93.3 today. Something about deceptive loans. I couldn’t get the phone number otherwise I would’ve called to inquire.
People shouldn’t have to worry about deceptive loans. Getting a home loan should be as easy as ordering a pizza. The nice man on the radio said so!
That is too much. I have this 2 million house which my appraiser uncle said is worth 3 million, and I can only affort 35 bucks a month cos I only make $7 at McDonald. Can I get a loan. I can, yea … cool.
Cool.
Cow_tipping.
"I heard a lawyer ad on 93.3 today. Something about deceptive loans. I couldn't get the phone number otherwise I would've called to inquire."
I have heard the ad a couple of times. It is for folks who believe they were fooled into "pay as you please, neg am loans." I think they are lookin' for a class action lawsuit?……….