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Tree-Hugging Member
 
Jim727's Avatar
 
Join Date: Oct 2006
Location: Northern California
Posts: 1,676
...and...

Joe Mortgage takes out Yet Another Equity Loan - which he can't repay if the ARM changes - to buy $hit he doesn't need, depleting whatever asset balance he (might have) had and gets crushed by his minimum payments to credit cards, mortgage, auto lease, etc. Of course Joe refuses to admit he has a problem and the taxpayer is supposed to "reform" the system to absolve him of any consequences. That's how irresponsible people have treated their home purchases.

The difference is what, again???

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Old 02-07-2008, 11:27 AM
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