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So I heard an ad on the radio for the news the other day. The teaser was something like “How to get a mortgage in the new economic climate!”.
Sorry, but I thought…uh, exactly the way people used to get mortgages? Have a down payment, a decent job, a good credit history, and be missing the pile of debt?
It’s not like it’s a secret. Be responsible, that’s how.
February 19th, 2008 at 7:12 pm
Right on Sista. By not following the basic principals is what got the mortgage industry in its current mess.
February 20th, 2008 at 12:06 pm
The basic principles will always be there regardless of the spins that people try to put on them.
If you can’t afford a down payment on a house and you’ve got debts to your eyeballs maybe you shouldn’t be buying that overpriced house. (just a crazy thought)