does this poor sap remind you of someone you know? or his wife? http://www.youtube.com/watch?v=Ubsd-tWYmZw&mode=related&search=
Wow. Whoever approved making that add should be fired. Is it a joke? If so it might be over the head of most. But... seriously.... that's surreal. It's funny to read the youtuber comments completely missing what is really scary about that - people marching like lemmings into a future bankruptsy - and instead focsing on the buying being "p-whipped."
Women have always wanted a home. That is the main reason they marry. Home and Kids. It was the 1% interest only, no doc loans that caused the problems, not some new paradigm shift in women's nesting instincts. John
I imagine you are right. If the subprime lender goes belly up for say 30 cents in the dollar in an asset fire sale, the home owner's mortgage of say 300K is effectively being sold for 90K. It is a great pity that the home owner is not offered the opportunity to better this offer. They could then approach another lending shop or bank with the deal as they would no longer be subprime since they now have equity in their home.
I would never, and I mean never let me RE agent sway me like that. That's just laughable. I remember when were pre-qualified. Oh your fine you can afford to spend xxx amount more if you like. No thanks I said. I have the chance to speak to a few self made multi millionaires. One of them said something I always remember.........No one cares as much about your money as you do. I think the saying goes a fool and his money are soon parted. Perfect for this sucker, uh I mean commercial.