How do you think mortgages work?
And what do you think the huge credit card debts in America are about?
My mortgage is secured by my home, at no more than half of appraised value.
The 3% rate will provide the investors with a hefty profit at my expense.
Credit cards are financed via usury, currently around 25% interest rate.
And again the creditors have a hold on your assets.
There are limits to bankruptcy.
What I see with this Debt Transfer is not the same.
No, I’m not a financier, just a guy who tries to apply some measure of what used to be called “Common sense”.