A 30-Year Trap: The Problem With America’s Weird Mortgages
CmdrShepard @ CmdrShepard @lemmy.one Posts 2Comments 1,844Joined 2 yr. ago
CmdrShepard @ CmdrShepard @lemmy.one
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2
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1,844
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2 yr. ago
Imagine being 10 or 20 years into your mortgage and suddenly you can't afford your payments anymore due to a rate increase. You have to sell the house and then try to find another one at the inflated rate and then start back from square one.