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In this particular case though it is awfully difficult to even hold an opinion without seeing their contract. Maybe it WAS a "bad loan". Maybe the contract was fraudulent or unclear as to the terms. Not enough information.
About the brokers in general though.I can't tell you how many mortgage brokers and real estate agents I know who told me a few years ago that housing prices never go down. When I gave the excellent example of Japan they told me "that's not the US". Mortgage brokers and real estate agents are salespeople; many without a full understanding themselves of the industry, its history, finance, interest rates, bubbles manias and so on. Nearly any I spoke to in recent years knew of the much higher interest rates in the 70s and early 80s or had given thought to the future possibility of a return to higher rates,. Im short, the brokers are usually only marginally more financially sophisticated than the customers and in many cases are not.
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skype = "adultdatelink"
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