http://www.bloomberg.com/apps/news?pid=20601103&sid=aNoc4LFUSOKw&refer=us "...Prince Jones Jr. paid $170,000 a year ago for a six-room Cape-style home in St. Paul, Minnesota, financing it with an adjustable 30-year mortgage. Jones, 27, got a so-called sub-prime loan because he was a first-time buyer who is a self-employed barber, has debts and makes about $500 a week. He planned to refinance before December when his monthly payment could jump to $1,646 from $1,291, hoping a good payment record on this mortgage would secure a lower rate..." Ok, I am not a banker or a loanshark, but a $1,600 monthly payment for 30 years for a $170,000 home seems really really high. that is almost $600,000 in payments over the term of the loan. Either these facts are incorrect, my interpretation is bad or sub prime lenders make Tony Soprano look like a great deal.