What is with all these quotes from people who “didn’t understand” that when their monthly payment got cut in half but their interest rate stayed the same, they were probably not paying down the principal in quite the same way??
I can’t fathom the idea of taking on a six figure liability without taking 30 seconds to plug the numbers into a loan calculator to see if they make sense. Nor can I feel particularly sorry for those who fail to do so.
I do not feel sorry for her one bit.
Amen! I live in an apartment because that’s what I can afford while saving a big down payment for a house. I have zero pity for the idiots who took out option ARMs and opted to make interest-only or negative payments on several homes in markets that are flooded with real estate for sale, and then they want ME, the taxpayer, to bail them out? They can go jump off a bridge.