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Originally Posted by Sightseek
This is correct, but I think she was referring to the people who thought they were getting a deal with their variable rate mortgages who can now no longer afford their monthly payment. American Home Mortgage went down the tubes last week too.
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Aha.
Thanks.
I never liked the variable rate thing. I like to know exactly how much I have to pay. Heck I hate borrowing money period. When I first bought my house in 1987 the fixed interest rate was 10.5%. I refinanced fixed at 7.5%, then I got lucky with mutual funds and just bought the dang house.
Im not a good American. I hate borrowing.