Why the absurd loan adds?
With all the recent news about mortgage loan problems and home values
expected to decline over the next year and a half or so, why are adds like the following still appearing: "Refinance at 5.7% Fixed! $300,000 mortgage under $799/mo. All credits OK. Get 4 FREE quotes! www.lendgo.com"? $799/mo pays little more than half the interest on a $300,000 loan at 5.7% let alone any payment on principal. What's the game here - some sucker thinking the home is going to appreciate at a rate greater than the interest rate so you can still sell after a few years and break even or buyers who don't look past the advertised terms to see what they're really getting?. |
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