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re: Financial blunder stories
Posted on 4/18/16 at 2:13 pm to MontyFranklyn
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?
1
Posted on 4/18/16 at 2:17 pm to DirtyMikeandtheBoys
quote:No, we were a 3rd party lender. We had several different financial institutions that we did loans for. This lady just couldn't control her spending. She loved spending money like non other. He said that the guess room closet was filled with brand new clothes with tags on them. They eventually had to turn one of the kid's room to a walk in closet. I have no doubt in my mind that this lady was prostituting on the side.
But did you really, I mean ya'll probably ended up with the house, huh?
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