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re: Financial blunder stories
Posted on 4/18/16 at 2:07 pm to ctiger69
Posted on 4/18/16 at 2:07 pm to ctiger69
I worked in mortgage business back in 04 and it inspired me to get my degree in Finance. Did a refi for a couple that was leveraged to their eyeballs. The wife had over 50k in credit card debt. They had over a 100k in equity in the home so we were able to pay off all the debt and give them a little cash back. It saved them over a $1000.00 per month and only extended the mortgage by 2 years.......She went out and bought a BMW and ran all the credit cards back up with in 6 months. I felt so sorry for the guy.
1
Posted on 4/18/16 at 2:13 pm to MontyFranklyn
quote:
I worked in mortgage business back in 04 and it inspired me to get my degree in Finance. Did a refi for a couple that was leveraged to their eyeballs. The wife had over 50k in credit card debt. They had over a 100k in equity in the home so we were able to pay off all the debt and give them a little cash back. It saved them over a $1000.00 per month and only extended the mortgage by 2 years.......She went out and bought a BMW and ran all the credit cards back up with in 6 months. I felt so sorry for the guy.
But did you really, I mean ya'll probably ended up with the house, huh?
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