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Comments
Re: National Protest on Foreclosures
Sucks ass.
What I don't get though, is do people get into these sub prime loans thinking the fed will never change the rate? Or were they just trying to buy a house, and ARM offered lower closong costs? I don't see why anyone in their right mind would go with an adjustable rate, or at least convert it to a fixed when the economy started getting all screwy.
I dunno... I think people need to be educated on what a mortgage really is, how it affects the economy, how hedge funds get hammered when foreclosures happen, the whole chain reaction of economic melt-down.