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Answer Desk: Uncle Sam's borrowing binge
Mon Jan 5, 2009
We're going to do this first the "hard way". Assume 10% interest (very low on a credit card eh?) for 5 years. MOST people in this country don't think that's so bad, because they'd only pay 50% (in total) interest on the money. WRONG. Here's the math:
Grim choice: Walking away from a mortgage
Thu Dec 18, 2008
The financing consisted of two interest-only loans with initial rates of about 7 percent and 10 percent. Her monthly payment, including an escrow account for property taxes and insurance, was about $1,400 a month.
Grim choice: Walking away from a mortgage
Thu Dec 18, 2008
The financing consisted of two interest-only loans with initial rates of about 7 percent and 10 percent. Her monthly payment, including an escrow account for property taxes and insurance, was about $1,400 a month.
Grim choice: Walking away from a mortgage
Thu Dec 18, 2008
The financing consisted of two interest-only loans with initial rates of about 7 percent and 10 percent. Her monthly payment, including an escrow account for property taxes and insurance, was about $1,400 a month.
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Answer Desk: Uncle Sam's borrowing binge
Grim choice: Walking away from a mortgage
Grim choice: Walking away from a mortgage
Grim choice: Walking away from a mortgage