On Wed, Dec 3, 2008 at 9:42 PM, Michael Madigan <[EMAIL PROTECTED]> wrote: > Only an idiot would get a variable-rate loan. > > *************************************************
They were in fashion when your house was a short term 4 year investment. You expected to move upwards in the 4th year so you didn't care that the rate was going to change. This is the root of the greed in real estate values problem. You were sold an investment plan and many people followed it. TV stations on cable took up the cause and showed people how easy it was to make money on "flip that house" It is not that these people were stupid, they had no intent to stay put when they signed on the line the first or second time. _______________________________________________ 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.
