Quote:
Originally Posted by CurtEgerer
You guys are 100% correct that nobody had a gun to his head to sign the loan papers - he made a very dumb mistake. And I guess it wasn't a 'refinance' but more of a consolidation loan where he tied in other debt. Where I see fault with this particular mortgage company is that I believe they purposely make these loans at more than the value of the house because they know that once somebody is locked in, they have no way to escape.
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No way to escape? He took money from the bank. Just pay it back. There's your "escape."