Quote:
Originally Posted by Rajoo
Bull shit. One of our employees fell into this trap buying a house that was around 80 miles away from our company. He even talked a couple of other employees into doing this, including his younger brother who also worked for us. I had to loan him $17,000 just to be able to sell his house and get out of his loan obligation a few years later.
Guess why? Zero down, interest only loan, at the end of five years market rate interest, whatever that means. So this guy after five years could not make payments and house was worth a lot less than what he paid.
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So, you are saying he was too stupid to understand what he was signing.