bet ya i sleep a whole lot better in my $300k house with a $2400 mort pymt then the guy with the $750k house and the $6000 mort pymt especially if he's making the minimum pymt in the area of $4000 with a $1700 NEG AM every month

There is a lot of that in FL right now!

I have 11 1/2 years left on a 15 year fixed (4.75%) and sleep really good knowing the loan is like 1/3 of the value of the house. My primary residence will be paid for before my kids graduate from high school is the plan.

Yeah but Bernie who is the one convincing the people to bite off more than they can chew? The Mortgage companies and the consumers with the CHAMPAGNE taste on Beer pockets are stupid for taking the crazy programs and not investigating them further.

Before I got into the finance biz I had a mortgage guy that came highly recommended. He gave us a 15yr & 30yr quote.

We asked about all of the other programs and he said NO! YOU DON'T WANT THEM!! and he would not even explain them to us.

The same goes for me when someone calls and wants a 3yr fixed or an interest only boat loan. I tell them NO - SORRY I won't sell you that.

I agree to a point but how about the realtors who know damn well THEY SHOULDNT EVEN BE SHOWING THE HOUSE...bro its a viscious cycle and i know there are plenty of LESS then respectable brokers and loan officers who will do whatever it takes to get the mortgage