Thursday, July 26, 2007
Crooks
What is going on with our culture? Why is it ok for mortgage companies to screw people? A friend told me she had to refinance her home due to circumstances that required more money. To do so she had to take out a loan with a variable mortgage and as far as I know that means the rate of interest on the loan keeps changing and that means the interest rate increases. In her case it has increased beyond practicality. Her husband has recently found a job but was unemployed all winter. She is considering opening a small business to help pay her house payment. She has children that need her and don't need her taking all her time away from them. If mortgage companies were on the up and up they would tell people that they can't refinance instead of leading them down the high interest path. Would that we follow the path the Buddhists advise. Do not take anything that is not your own. Be honest and treat others with respect. Christians have that approach too but they also have learned to rationalize whatever approach they decide to take.
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5 comments:
hmmm.. what are mortgage companies? may i know?
cultured organizations or something? I wish they could really do the right thing and use teh right approach. :D
take care~! have a nice weekend.
If you buy property, i.e. a home, here and you don't have the money you can borrow the money from a mortgage company. They hold the ownership of your home until you pay all the money. The money must be repaid with interest and some of these rates are variable which means you could start paying 5% on the money and after a few years be paying 7% then in a few years 9%. The interest is figured in to the payment so your payment increases and if you can't make it you lose the house. Many people are being forced to give up their homes because they can't make the high payments.
oh.. i see.. I guess i have an idea what are mortgage companies now. Hopefully there would be more subsidies so that people can all live with no troubles.
thanks! i will try to hang in there. Have a nice day.
take care!
These days you have to be smarter than the people you buy things from. That's the much vaunted "free market." I prefer a little bit of regulation to protect people so the companies don't take advantage of people. But we gave all that up in the '80s.
hello Mrs Schamberg! I hope u are doing fine. u seemed to be busy. DO take care of ur health! Dont get stressed out at work!
keep in touch!
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