MSN article highlighting adjustable rate mortgages and rates of foreclosure. One thing that caught my eye. Rhonda took a two year adjustable rate at 7.8%? Can you say “robbed”? I’m guessing she must not have stellar credit.
http://moneycentral.msn.com/content/Banking/Homefinancing
Yeah, another reader brought that same article to my attention.
Can you say OUCH?!
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Rhonda is like millions of other Americans…..robbed by men and women wearing fancy suits who financed a dream.
But in the end…….who is going to get screwed? Banks make all these loans that are going to result in foreclosures. Dont worry…the banks know the U.S. taxpayers will bail them out.
http://thegreedypirate.blogspot.com/