Posted on 02/19/2009 7:21:44 AM PST by Lockbox
For most people this would probably be a good deal, but if you were to lose enough income to default then you WILL be hounded until past death for the loan, interest, and collection fees. That's the only real downside, but it can be a HUGH downside if things go bad for you financially for a short period of time.
I feel like the bigget fool ever. We took a 15 yr mortgage, raised our kids here, and paid off our mortgage years ago. Never moved up like we could have. Instead, we invested in our retirement. Now, nearly have of that has been lost.
YOU BASTARDS! I want a refund on our losses, and a rebate on our paid mortgage.
Wonder what ‘incentive’ those with paid up mortgages get? Guess we get to pay $1000 to those who have them.
Its no different in my view. I don’t dispute what you say, just that it would happen if I should default either way.
As it should.
Hmmm. I sure haven’t seen anything yet to indicate this.
but now that I’ve had a couple of posters say it, I’ll ask specifically about it. And I’ll post what I learn for you all to see.
LOL! My new tagline!
I want flying unicorns pooping skittles, dang it. WHERE’S MY PIE?!??
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.