Tuesday, March 11, 2008

The Subprime Primer (my frigid Norwegian ass!)

The kids at google have done it again!


Blogger -suitepotato- said...

I have one of those mortgages with a variable rate and thanks to the absolutely cruddy economy and the rate cut, my mortgage interest rate DROPPED one whole percentage point starting with my next payment.

With my wife's job and mine, if it climbs to the contractual max of 10.3% we can still pay it easily.

I think a lot of people who got boned were people who could afford a very low starting rate with one person's paycheck but the actual increased rate after two years was more like one and a half paychecks or one with dramatically cut other costs like cable, treats, dinners out, cell phones, etc.

March 11, 2008 2:48 PM  

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