2007-03-21 01:32:22 · 3 answers · asked by TonyTiger 1 in Business & Finance ➔ Other - Business & Finance
Wow are you ever wrong!!!!
The debt crisis (we are in finance and credit) has occurred because of people living beyond their means. They bought houses they couldn't afford and in many cases had to borrow the down payment.
The have to have more, bigger better than their friends and neighbors.
We frequently see couples trying to get money out of a house they have been in 2 to 5 years only to discover they still owe more than it is worth. Because of taking out lines of equity, borrowing the down payment and in general just living beyond their financial abilities.
Should one or both be out of work for three months they will be fully bankrupt.
Everyone, save 10% of your income and live on cash only, use ONE credit card only for emergencies only or pay it off monthly. This should keep you out of trouble.
We began this 8 years ago and it isn't as bad as you think. You to can do it. Be strong and good luck.
2007-03-21 01:44:14 · answer #1 · answered by ? 7 · 0⤊ 0⤋
i think banks have no ethics or concern 4 people in debt
they'd would just prefer people 2 have more debt, 2 keep them in profit.
there should b a Law against lending some1 money, believing or knowing they'll may never repay the amount due.
do we exist 4 the banks or do the banks exist 4 us?
i'm begining 2 realise they need us more than we need them!
2007-03-21 01:45:09 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Where is the link????
2007-03-21 01:45:31 · answer #3 · answered by Rico E Suave 4 · 0⤊ 0⤋