$700 B Bailout

[hesscl34]

Originally Posted by saden1

Assuming you own your own home I am curious as to how many people in here actually read their loan documents in their entirety before they signed them?

I did. I got it right at the beginning of the bubble at a 30yr fixed 5.5% rate. I locked it and stayed there. I never refinanced and took money out when my equity started to go through the ceiling. The average American is not financially savvy enough to know the loans the banks are selling were high risk.

[firstdown]

Originally Posted by hesscl34

I did. I got it right at the beginning of the bubble at a 30yr fixed 5.5% rate. I locked it and stayed there. I never refinanced and took money out when my equity started to go through the ceiling. The average American is not financially savvy enough to know the loans the banks are selling were high risk.

I believe that most people knew what they were doing when they took out these loans. Its just easier to blame someone else now that things have gone south.