Ass-raping interest rates
I don't understand why someone would take out a second mortgage on their home at 15.00% interest. Or why you'd take out an initial home loan at 15.44%! Crikey!
Well, I can imagine some reasons for it, but I don't understand how in the hell they'd let themselves get screwed like that. Or, more specifically, how they'd come to the point where they felt they had no choice but to ask a skeevy out-of-state lender to finance them at a rate that high. Do they let their realtors talk them into this? What the hell?
People with abysmal credit really CAN get financed for a home loan. Really. From a bank, not a broker. The rate will be higher, but it won't be sixteen fucking percent! More like 9-ish.
I've noticed that people with Hispanic last names tend to really get screwed on interest rates. Also, people with (stereotypically) black first names get shafted. This is in no way surprising, but it really pisses me off.
Single women and the elderly also get screwed. I doubt it happens more often to them than it does to blue-collar couples, but it pisses me off anyway.
Well, I can imagine some reasons for it, but I don't understand how in the hell they'd let themselves get screwed like that. Or, more specifically, how they'd come to the point where they felt they had no choice but to ask a skeevy out-of-state lender to finance them at a rate that high. Do they let their realtors talk them into this? What the hell?
People with abysmal credit really CAN get financed for a home loan. Really. From a bank, not a broker. The rate will be higher, but it won't be sixteen fucking percent! More like 9-ish.
I've noticed that people with Hispanic last names tend to really get screwed on interest rates. Also, people with (stereotypically) black first names get shafted. This is in no way surprising, but it really pisses me off.
Single women and the elderly also get screwed. I doubt it happens more often to them than it does to blue-collar couples, but it pisses me off anyway.