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Old August 4th, 2007, 06:19 PM   #9 (permalink)
dorian gray
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Join Date: Apr 2004
Posts: 19,808
You do realize that refinancing often requires closing costs in keeping with your original purchase. You're talking $5000 or so just to get yourself a new interest rate. They are now 7%.
My point is that the VAST majority of people with these non-traditional loans don't have the $5000 to close. They don't have the extra $200 a month their mortgage is going to cost them when they're term runs out.

Credit is probably the worst idea of all time.
Originally Posted by neal View Post
today at work a U2 song came on the rock station, so i said "fuck this shit" and walked over to the radio and changed it to the classic rock station, and they were playing a newer U2 song. you win this one, radio bastards.
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