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Old 12-08-2007, 08:37 AM
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Wagner Wagner is offline
..make it happn' capn'
 
Join Date: Mar 2005
Location: Mt. Airy, MD
Posts: 17,708
Wagner is on a distinguished road
I saw an interview yesterday on a woman who was complaining she had just bought her first home and now her payment was going to double. First off, most lenders tell you to read the fine print about rate adjustment, but it is tedious so people avoid it. Second....and most important...the woman was.........71 years old. What clown lender wrote a brand new adjustable mortgage to a person who could not possibly live out the time to pay the debt???? Where was underwriting on that one?
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