July 05, 2011

Thinking Back

You know, back in 2004, I was making about $40k a year, and I was approved for a home loan of $300k+.

Now, I'm not a huge math whiz, but even I knew at the time that was a ridiculous amount of money and that the monthly payments on such a loan would leave me with absolutely nothing left for anything else--food, utilities. . . NOTHING. So, I ended up taking a loan for about 1/3 of the approved figure.

And, I remember thinking back then that it would take a complete idiot to accept that kind of a loan. As it turned out, I guess there are a lot more complete idiots out in the world than I previously cared to admit was possible.

I mean, I don't doubt "predatory" lending probably took place but, honestly, if your prey is essentially jumping into your mouth, swimming down your esophagus, taking a bath in your digestive stomach juices and then happily cruising through your colon, with no required effort on your part. . . well. . . it's hard to see that as ENTIRELY predatory.

I'm not sure why this popped into my head, necessarily, beyond the fact I was just sitting here thinking how nice it would be if I didn't have a monthly mortgage to pay down.

Posted by Ryan at July 5, 2011 12:45 PM | TrackBack
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