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.