Wednesday, December 05, 2007

The mortgage fix...

okay, real quick: i'm thinking about doing a refi due to mortgage rates dropping a bit. i'm just wondering if i can get one of those new types of loans. you know, the one that if i get in over my head, or say i don't read the terms of the loan, the government/big banks will just let me keep the lower rate for awhile longer. yeah, that's right, the one that gives no reward to the people who did their homework, looked at the numbers and said 'ain't no way that loan makes sense for me, look at what it does after 2 years'.

now, i definitely feel bad for the people that were lied to by mortgage brokers and such, but this feels very unfair to people that did the analysis and did the responsible thing during the years of low interest rates. where's our reward for doing the right thing?

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