Idiots work as writers for Wall Street Journal giving the WRONG advise on todays mortgage crisis
Buying an adjustable mortgage (ARMS) is what got our housing market under Bush in trouble in the first place. The Arms don’t work when the market drops and thats when people lose their homes.
This article proclaims that most buyers move out in the first five years – IF THEY CAN.
I just had three realtors come to see my house to discuss selling it and they didn’t even take pictures. They said SHORT SALE or walk away by giving the deed back to the bank. I can do neither b/c we have no place to go so we’re stuck paying for a house whose mortgage is 181K and worth if we sold 168K and back five years ago when we bought it for $190K – what a mess and I am now out of work – between jobs – as I like to call freelance fucking work – and scared we may lose the house and our investments in it.
Do NOT do adjustable mortgages – Yahoo Money writers have their heads up Obama’s asshole and they are smelling the koolaid he’s leaking.
- When is it worth it to break your mortgage? (theglobeandmail.com)
- U.S. tries to reduce more homeowners’ mortgages (thegreatone22.wordpress.com)
- Louisville Ky Mortgage Rates (kentuckyfirsttimehomebuyer.com)
- Government wants to simplify mortgage quotes (hsh.com)
- NY probe seeks mortgage records, official says (seattlepi.com)
Posted on June 5, 2011, in Are you kidding me?, News, Opinion and tagged Business, Fannie Mae, Financial Services, Mortgage broker, Mortgage loan, Mortgages, United States, WALL STREET. Bookmark the permalink. Comments Off on Idiots work as writers for Wall Street Journal giving the WRONG advise on todays mortgage crisis.