I actually do. They are a bad deal. My parents lost their house due to foreclosure. Hope you read all the fine print. They will screw you in a heartbeat especially if housing prices come crashing down. The Asbury Park Press who is owned by USA Today/Gannett interviewed me as a feature article highlighting the inherent dangers in these loans. Tom Selleck is an asshole selling them.
I actually do. They are a bad deal. My parents lost their house due to foreclosure. Hope you read all the fine print. They will screw you in a heartbeat especially if housing prices come crashing down. The Asbury Park Press who is owned by USA Today/Gannett interviewed me as a feature article highlighting the inherent dangers in these loans. Tom Selleck is an asshole selling them.
And btw, using gannet as a point of reference isa little silly,being that they started sucking worse than anyone,earlier than anyone. They’ve sucked since the fifties.
The Asbury Park Press was still operating independently at the time and the article was written by local reporters. Gannet had bought them but they were not fully integrated at the time. They actually held back part of the story as it was much worse than published (it was bad enough). As I said, over time and if housing prices drop significantly, they will use any means possible to screw you. Trust me. It was a sad story. Be careful.
Actually since the feds got wind of the predatory practices, they’ve had to comply with all forms of safeguards. In the beginning, this was true. Now you are required to take classes yourself before getting one. We got lucky. No one of any consequence to leave our home to, and for at least the first ten years of this loan, we aren’t touching equity. So if we live long enough, we might see the first payment that is lowering equity. So yeah, did a ton of research, and if I kick before my bride,she will be able to stay as long as she wants. That was the point. And we can pay it off if we want which is a thought, and that will cost us a few bucks, but so what. At this point in life, aren’t we supposed to be enjoying retirement?
I actually do. They are a bad deal. My parents lost their house due to foreclosure. Hope you read all the fine print. They will screw you in a heartbeat especially if housing prices come crashing down. The Asbury Park Press who is owned by USA Today/Gannett interviewed me as a feature article highlighting the inherent dangers in these loans. Tom Selleck is an asshole selling them.
Agree and was super disappointed in Selleck for hawking that crap.
And btw, using gannet as a point of reference isa little silly,being that they started sucking worse than anyone,earlier than anyone. They’ve sucked since the fifties.
The Asbury Park Press was still operating independently at the time and the article was written by local reporters. Gannet had bought them but they were not fully integrated at the time. They actually held back part of the story as it was much worse than published (it was bad enough). As I said, over time and if housing prices drop significantly, they will use any means possible to screw you. Trust me. It was a sad story. Be careful.
Actually since the feds got wind of the predatory practices, they’ve had to comply with all forms of safeguards. In the beginning, this was true. Now you are required to take classes yourself before getting one. We got lucky. No one of any consequence to leave our home to, and for at least the first ten years of this loan, we aren’t touching equity. So if we live long enough, we might see the first payment that is lowering equity. So yeah, did a ton of research, and if I kick before my bride,she will be able to stay as long as she wants. That was the point. And we can pay it off if we want which is a thought, and that will cost us a few bucks, but so what. At this point in life, aren’t we supposed to be enjoying retirement?