HGTV just got real 😆

[underpants]

[Wounded Bear]

1. Must be on that new 50 year mortgage plan...

[leftieNanner]

3. Not to mention the property taxes.......

[Nevilledog]

2. That's perfect!

[sfstaxprep]

4. Completely Unrealistic

Anybody with a $3.2 Million budget, is not going to be eligible for the stimulus. Nor should they be.

I understand the point, but the indicated "budget" makes it into a joke, rather than a statement on the insufficient stimulus amount.

[paleotn]

5. It's 2006 all over again....

Liar loans and super duper low introductory payments covering 1/2 of just the monthly interest. When the full payments kick in after a year or two, you owe more then you did when the mortgage was originated. I remember my father thinking 30 year mortgages were insane. Now I think 7 year car loans are insane. The third constant in life, along with death and taxes, is people never learn.

[hatrack]

6. Reminds me of the Negative Amortization Loan - that is, the longer you pay, the more you owe

And what did the markets call this particular excrescence of the financial sector 15 years ago?

Why, the "Smart Loan", of course!

[paleotn]

7. Yep, compounding interest on the interest you didn't pay the prior month,....

rinse and repeat, is a quick trip to the poor house. When the day or reckoning comes and they hit that recast cap, it's foreclosure city. Why someone would write such garbage is beyond me. People with no soul. Why people would invest in tranches containing such garbage is even further beyond me. Lots of them still sitting on the Fed's balance sheet. Ugh.

[irisblue]

8. "excrescence definition...

ex·cres·cence
/ˌikˈskresəns/
Learn to pronounce
noun
a distinct outgrowth on a human or animal body or on a plant, especially one that is the result of disease or abnormality.