Do you think that if mortgage companies did not make

Question

their customers pay three times over what the house costs then this foreclosure mess wouldn't get so bad, and more people would be doing well, and maybe even homelessness would decrease dramatically? Example :: 45,000 dollar financed for thirty years at 406.00 a month =146,160.00 I believe that it's insanity. Can anyone explain this for me? This is an actual figure from an FHA officer. I expressed interest in a home that was 45,000.00

Answer 1

yep. but people want money and are willing to lie cheat and steal to drain you for every penny possible.