Comments on: Home Owners Getting Shafted With Nightmare Loans

By: Empty Spaces Inc.

Empty Spaces Inc. — Fri, 15 Sep 2006 20:50:00 +0000

I agree. However many home owners do not know what interest rate they have. they only know what their monthly payment is. very often someone will call them up and offer to reduce their monthly payment and stick them in a terrible loan where they can make 4-6 points of the borrowers.

thats why some mortgage brokers make over a million bucks a year.

By: Anonymous

Anonymous — Fri, 15 Sep 2006 02:28:00 +0000

if you have a 5.25% 30 year fixed and refinance, you need to have your head examined!

By: finance girl

finance girl — Thu, 14 Sep 2006 15:50:00 +0000

could.not.agree.more. Hubs and I were mortified when we read that article last week (we get busweek). Can you believe it? I feel so sorry for these people, and know that they likely just don’t understand finances, and got sucked in by a good rate.

But your last sentence says it all, you have got to educate yourself and no one is going to look out for your financial well being except you.