Thursday, Dec 13, 2007
If people are greedy??
Davis thoughts: Loans/mortgages
Surely by now in the 21st century people shouldn't need reminding not to overstretch theit budget?
I still only buy if I can afford it! I did not take out a full mortgage, in amount that COULD have been borrowed, but bought a smaller property secure in the knowledge that if mortgage rates rose I wouls still have some monetary leeway.
If people are unable t o see that they cannot afford a mortgage or loan they are in serious trouble, whats the old saying, at the end of the month 1 penny in credit- good new for you, at the end of the month 1 penny in debt - good news for the bank!
Posted by matt d @ 11:44 AM (185 views) Add Comment
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