The latest news topic
February 19, 2008
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.
Right on Sista. By not following the basic principals is what got the mortgage industry in its current mess.
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)