Economy

DemReadingDU

(16,002 posts)

50. Do they really want your mortgage, or just the fees?

Wed Mar 7, 2012, 11:22 AM

Mar 2012

Or do they want to get your mortgage in the MERS system, where no one really 'owns' the mortgage, but it gets passed along thereby generating toxic investments for investors?

If you are happy with the your mortgage now, why change.

We had a typical mortgage in the 70s and 80s...7.5%. Yeh, typical!
We paid extra every month to reduce the principal, and was able to pay it off several years early, rather than re-financing.

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