The Mortgage Roller Coaster is Starting Downhill (without a Brake)

We have mentioned many times in the past year about all the "bad" loans that were being approved and that sooner or later someone will have to clean up the mess at the train wreck. The sad thing is most of the loss will come from hard working people who have this trash in their mutual funds or IRA's and retirement funds. Read this article about the bandage they are putting on when they need to do surgery. Check your funds and see how much financial holdings they have. You will be very surprised. Many thanks to Kimberly (a great financial advisor) for providing this article. We know this information can help the borrower as it will certainly alert them to look very carefully at where and with whom they get their mortgage. They are still advertising 1% mortgages out there in the papers with big Ads. The assumption must be that people might actually believe they can get such a great deal. As they say: "Get Real"
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