40 year mortgages, interest-only loans, home equity loans: Why not just rent, it'll never be paid, and affordability is questionable. One blip in a job situation could be the first domino.
I was beginning to wonder if the crisis would occur when the borrowing generation begins to pass-away, as the debts are left to the children. Hopefully it'll reconcile sooner rather than later. Can you imagine the shock of loosing a loved one, then finding out they've financially devastated all you'd built?
2 comments:
I completely agree with that statement.
40 year mortgages, interest-only loans, home equity loans: Why not just rent, it'll never be paid, and affordability is questionable. One blip in a job situation could be the first domino.
I was beginning to wonder if the crisis would occur when the borrowing generation begins to pass-away, as the debts are left to the children. Hopefully it'll reconcile sooner rather than later. Can you imagine the shock of loosing a loved one, then finding out they've financially devastated all you'd built?
Glad to see your visitor numbers are up. Wish they'd post more comments.
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