Michael Madigan wrote: > Indirectly if the rates go up along with inflation.
>>> I have never seen an interest rate for borrowing tied >> to inflation. They are always fixed rates. >> Seems to me that the so-called "adjustable-rate" mortgages are >> indirectly tied to inflation. Hi Guys! A couple of years ago the entry level around here was $265K, now you are seeing $95K with maybe 20% vacant. Seems that the mortgages all had adjustable rates and scheduled balloon payments. The assumption was that the house would be worth half a million by now and the balloon mortgage would be refinanced. Now that can't be done. When people can't pull the balloon out of their back pockets the banks foreclose and throw them out on the street. Just business. They sell the house on the courthouse steps for $500 but for some reason the people living there aren't allowed to bid on it. -- Regards, Pete http://pete-theisen.com/ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
