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Reply #36: Whole lotta people were told that rates could adjust DOWN as well. [View All]

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mbperrin Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-17-09 09:26 AM
Response to Reply #19
36. Whole lotta people were told that rates could adjust DOWN as well.
Course, that was a lie, just like the rest of it.

We thought about financing a vacation home, but 6 different lenders offered us only ARMS. We took a 5 year note from the seller at 7% as is, nothing down, legal fees at closing. Been relaxing in the tall pines for about 10 years now in our paid for, reasonably financed cabin.

Haven't dealt with bankers in 20 years. Feels great.
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