Maybe I've got it all wrong but I took out a loan for $150,000 for my property and if I pay the minimum amount after my mortgage is up I will have paid in $450,000. It almost seems criminal to me to make that much money when you get it in the first place from the feds for a low as 0.0 percent! Yes some banks are getting money from the feds as low as zip right now!
There's an abandoned house two houses down. The landlord went bankrupt. The bank got the house and kicked out the renter. Now it sits in 6 feet of weeds and is falling apart. Wouldn't it have made sense to keep the renter for the rent money and to keep up the house? A neighbor says the bank would rather write it off or is getting money from the government, which made it a better option to kick out the renter. Anyone see anything wrong with this picture?
Last edited by Cecil Baird1; 08/04/12 12:38 PM.
