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east central ND | I had not thought of that point, but when I had a house loan with a 5 year ballon, just had to sign paper with new rates, the interest was reset, no other paperwork. With the ones with houses underwater, are they calling in the note when the ballon is up? Must be wrote up diffent than what I am used to. Since the banks are carring the underwater house with good payments, you think they would continue to as interest rates are not going any cheaper. I know alot of teaser rates were out there, but if the home buyer could not affort the real rate after it reset, they were in trouble from day one, and should never have been given the loan. Of course eveyone thought "how could a house go down in value"? Maybe I am just too conservitive in my thinking! | |
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Did anyone see the 60 Minutes tonight
