To: Archangelsk
Let's do the math: They made $100,000 a year and own a $114,000 home. How in the world can their mortgage be $1500 a month? Did they borrow at 16%? Something's wrong here.
2 posted on
04/17/2003 2:37:00 PM PDT by
annyokie
(provacative yet educational reading alert)
To: annyokie
Perhaps they took out a 15 year mortgage. Smart if you can do it.
3 posted on
04/17/2003 2:38:00 PM PDT by
Archangelsk
(Big mouth frogs, the appetizer of choice for alligators.)
To: annyokie
Not only that...
If the Salters sell their home and get their $187,000 asking price, they would clear $40,000, something to help them into another home. If the bank forecloses, the Salters could get nothing. If the house was $114,000 and now it is worth $187,000, why would they clear only $40,000? Sounds like someone went a little credit card crazy back when cash ($100,000 plus income) was plentiful. How is that my job to rectify?
11 posted on
04/17/2003 2:47:32 PM PDT by
RAT Patrol
(Congress can give one American a dollar only by first taking it away from another American. -W.W.)
To: annyokie
How in the world can their mortgage be $1500 a month? Did they borrow at 16%? Something's wrong here. Ditto! The numbers don't add up in this story..
115 posted on
04/17/2003 5:12:30 PM PDT by
EVO X
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