Housing Crisis takes down Levitt

Undertoad · 01-05-2008, 10:12 PM

Ever get a mortgage? There's absolutely no way in hell that anything can be hidden from the borrower. Every single detail is initialled 27 times and signed off in triplicate.

I have a subprime loan. My subprime lender explained the deal very precisely to me, and I took it.

The ARM just went up too. But I have what I wanted out of it all - got exactly what I expected... and in another little while I will re-mortgage at a better rate.

01-05-2008, 10:12 PM	#1
Undertoad Radical Centrist Join Date: Jan 2001 Location: Cottage of Prussia Posts: 31,423	Ever get a mortgage? There's absolutely no way in hell that anything can be hidden from the borrower. Every single detail is initialled 27 times and signed off in triplicate. I have a subprime loan. My subprime lender explained the deal very precisely to me, and I took it. The ARM just went up too. But I have what I wanted out of it all - got exactly what I expected... and in another little while I will re-mortgage at a better rate.

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