Quote:
Originally Posted by That Guy
except the asshole that sold them terrible loans made bank and on top of that, I'm paying for it anyways due to some fat bank bailouts with low accountability or tracking on the cash flow.
and now I can't re-finance without putting massive points even though my credit score is over 800, I've never had a late payment, I've got lots of equity and cash assets, plenty of insurance and a guaranteed job.
so I'm paying for the people that couldn't afford their houses and now I also get to pay more for mine and lose value as well.
real win-win.
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I hear you man when we bought our house in 2005 we had a budget of $250 that is what we could afford. the bank approved us for $500K, many people bought homes they could not afford. they were like will if the bank says I can get a $500k loan I must be able to afford it.
Hopefully Obama throws us a lifeline because as usually it is the guy who is trying to do the right thing that ends being screwed.