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PoindexterOglethorpe

(28,493 posts)

58. Interest-only loans always struck me as

Fri Dec 2, 2016, 01:12 PM

Dec 2016

completely insane.

Back when I was buying the place I'm currently in, a financial advisor suggested an interest-only loan to me so I could buy something bigger. I told him there was no way I'd do that.

So now I'm "stuck" (irony glyph here) in a 900 sq foot two bedroom two bath townhouse that, while smaller than I'd prefer, is perfectly adequate. Not too mention that at this point, seven years into a 30 year mortgage, I have decent equity.

What makes Colebrook's story especially unfortunate is that she started out doing the right thing, buying an income property. Had she stayed with just that one, she might well have been able to ride through the downturn. I don't even want to say she got greedy, because she was doing something that is often advised: buy income property.

But she still ought to have known better than to believe Donald.

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"I just wish that I had not voted" [View all] kpete Dec 2016 OP

Screw her! leftofcool Dec 2016 #1

That was my first thought lillypaddle Dec 2016 #55

Yep and she'll do it again next time and the next time zz-la Dec 2016 #66

To quote Billy Joel, "Don't come bitchin' to me." raccoon Dec 2016 #2

Perfect quote for the situation. Arkansas Granny Dec 2016 #4

Damn straight. malthaussen Dec 2016 #49

Schaaaaadenfreude!!!! TXCritter Dec 2016 #3

Cuing up the tiniest violins orchestra... 50 Shades Of Blue Dec 2016 #5

Didn't she hear Trump boast about taking advantage of the housing crisis? JHan Dec 2016 #6

Is we learning yet? hatrack Dec 2016 #7

If her income is low enough, and situation right, she may be paying more taxes soon too! lunasun Dec 2016 #8

Yep, very soon it's going to be very very expensive to be in the middle class. (or less) Hugin Dec 2016 #12

and at 59, if ryan and snuffles plan goes through, she won't have medicare either. Javaman Dec 2016 #42

DUH...........n/t HAB911 Dec 2016 #9

I have zero sympathy for people who voted for that creature Bettie Dec 2016 #10

It isn't a matter of sympathy, just pointing out this is what they voted for Trekologer Dec 2016 #18

Yeah, but they are going to be shocked Bettie Dec 2016 #32

And that is why it is the entry vector to build a coalition Trekologer Dec 2016 #44

That last part will be hard for me Bettie Dec 2016 #46

I would like nothing more than to tell Trump voters to lie in their bed Trekologer Dec 2016 #59

Another who thought they were smarter than all the rest... Hugin Dec 2016 #11

What An Idiot! ProfessorGAC Dec 2016 #13

Outside of his family, the only people tRump knows are Wall Street types. SammyWinstonJack Dec 2016 #60

Not just "a billionaire." A billionaire(?) blatant con man. JHB Dec 2016 #62

Hey Teena, you are really really stupid. DURHAM D Dec 2016 #14

Boo fucking hoo, trumper. mountain grammy Dec 2016 #15

She's not quite stupid enough for the new Leader n2doc Dec 2016 #16

No sympathy, no empathy mcar Dec 2016 #17

I just wish the rest of us didn't have to live with the consequences of Teena's stupidity and Tanuki Dec 2016 #19

A little ditty comes to mind... malchickiwick Dec 2016 #20

At least she figured it out already. TwilightZone Dec 2016 #21

It seems that she only cares now because this happened to affect her personally. Tanuki Dec 2016 #35

Agreed. TwilightZone Dec 2016 #39

Yeah Dorian Gray Dec 2016 #69

Well, now she's waking up. Where will she turn, and who will bring her along? RedWedge Dec 2016 #22

She wasn't just sleeping kacekwl Dec 2016 #25

Okay, your name's off the list. RedWedge Dec 2016 #27

Buyer's Remorse has already started. Liberal In Texas Dec 2016 #23

What part of con artist did Teena not understand? GeorgeGist Dec 2016 #24

No sympathy leftynyc Dec 2016 #26

Fuck you ignorant person! lonestarnot Dec 2016 #28

The Democrats could have had her vote, maybe for the rest of her life ... surrealAmerican Dec 2016 #29

Main Street not Wall Street. Too bad that didn't happen. SammyWinstonJack Dec 2016 #61

Only the latest in a series of her mistakes apparently. jmg257 Dec 2016 #30

Poor choices.... Historic NY Dec 2016 #36

Interest-only loans always struck me as PoindexterOglethorpe Dec 2016 #58

Mission accomplished. Orsino Dec 2016 #31

grad enid602 Dec 2016 #33

Idiots cilla4progress Dec 2016 #34

buyers remorse at voting for a well known con-artist. nt Javaman Dec 2016 #37

Sorry, I'm all out of liberal tears DavidDvorkin Dec 2016 #38

you and A L L the blue sky at night Dec 2016 #40

Why'd you sting me? Iggo Dec 2016 #41

+1 Hong Kong Cavalier Dec 2016 #43

"just wish that I had not voted"...me too buddy, me too n/t anarch Dec 2016 #45

This lady voted against her economic interests and gets to see the consequences Gothmog Dec 2016 #47

Tough shit, lady. It's a little late for your regrets. (nt) Paladin Dec 2016 #48

Idiot would be an understatement for this woman. progressoid Dec 2016 #50

For wittle Teena: Liberalagogo Dec 2016 #51

You reap what you sow. muntrv Dec 2016 #52

He was the campaign FINANCE CHAIRMAN!!!! Bleacher Creature Dec 2016 #53

Donald Trump and his fans are the biggest hypocrites in the world. Initech Dec 2016 #54

Lincoln said that you can fool some of the people all of the time. guillaumeb Dec 2016 #56

And the really, really depressing thing is that in two years Stonepounder Dec 2016 #57

NO sympathy for this idiot. None whatsoever. aquamarina Dec 2016 #63

I have ZERO RESPECT for anyone fooled by DONALD FUCKING TRUMP Skittles Dec 2016 #64

Yep. BlueStater Dec 2016 #65

I am STEAMING angry Skittles Dec 2016 #70

she would have just been fine if he had just gone after the blacks and browns JI7 Dec 2016 #67

There's a sucker born every minute! Stellar Dec 2016 #68