by Charles G. Hennebeul, American Cash Solutions
So what about those banks that didn’t do bad loans? They did right by their customers and what do they get?
More business? The chance to take business from banks and investment banks that went belly up? That seems like the case but they don’t get a check from the government.
I am just wondering, maybe more acknowledgement should be given to the banks that did not do so many pay option ARM.
Maybe those banks that we don’t hear about as having bad loans deserve our business because they did not cost taxpayers $700 billion and did NOT watch families go into foreclosure.
I heard some lady is living out of her station wagon and her friend lets her come to her house to shower once a day.
Ironically when we get double digit interest rates in the next 5 years, particularly after election day is over, having an adjustable at 16% will be good because the rate will adjust downward.
For now, it makes sense to have a fixed rate or a 5 or 10 year fixed rate depending on your situation.
Charles Hennebeul owns, a nationwide Commercial Mortgage Broker offering loans from $150,000 to $200 million, with an emphasis on Construction, Hotels, Motels, Bed & Breakfast.
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