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Saturday, March 15, 2008

Mortgages

Seems like all I hear or read about lately are all the homes in foreclosure. Kyle and I were talking about it last night and I am SO thankful that when we bought our house, and again when we refinanced after he lost his job, that we didn't go with an adjustable rate. It's nice to know exactly what we will be paying month to month and year to year. I DO feel bad for the people that got "roped into" thinking that was the way to go and are now faced with the possibility of losing their homes. I can't even imagine! Very scary!

When my mom bought her house, she actually took out two Mortgages. I had never heard of that before, but apparently it is common since I have seen t a few times on different shows on HGTV. Anyway, one of those lines is an adjustable rate and she is REALLY hoping she can get the 2 refinanced into 1 at a fixed rate very soon. I hope so too!!

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