Friday, September 26, 2008

How I Benefited from the Housing Bubble

In 2000, I was paying over 8% on a 30yr adjustable rate mortgage. By 2006, I had refinanced six times into a 15yr fixed rate mortgage at 5.25% with lower payments than I had six years earlier. So while I don't like the idea of bailing out irresponsible borrowers and lenders, I can acknowledge that I derived significant benefits from the same forces that created the credit crisis that we have today.

1 comment:

  1. I tend to think the same thing - I sold my house in the US pretty much at the height of the market, and got a good mortgage in the UK just a few months before things went bad, which pretty much makes up for the slump in my pension :)