Good credit, bad loans - Apr. 28, 2008
April 28th, 2008
Another story about a borrower who:
1. Didn't understand the loan they were getting.
2. Couldn't really afford the house they bought.
3. Felt pressure from "people" (Realtor? Lender?) to get this type of loan.
She was able to make it through, many aren't so lucky.
If you don't understand the loan terms, or you feel that someone is pressuring you, you need to back off, take a second look at things and make sure that you're doing the right thing.