Does Anyone feel like Bailing

[glatt]

Just got off the phone with my wife. We had some CDs that matured, so she went down to the bank to see what they were offering. The rates on the new CDs are a joke. But that's not why I'm posting this. The thing that struck me was that she said they pushed very hard to get us to borrow money. They wanted to give us a line of credit on our house. We didn't even ask, nor do we want one.

I thought the banks stopped throwing money at people. Isn't that what got us into this mess?

[Pete Zicato]

Originally Posted by glatt

Isn't that what got us into this mess?

Pushing loans on people who were not qualified to repay them got us into this mess. I'm sure you're qualified to repay.

[glatt]

Originally Posted by Pete Zicato

Pushing loans on people who were not qualified to repay them got us into this mess. I'm sure you're qualified to repay.

I'm actually not, which is why I don't want one. I think they probably figure anyone who doesn't want a loan is showing responsibility, and is therefor a good risk. But being responsible AND having that nice income is what they should be looking for.

[ZenGum]

Originally Posted by glatt

Just got off the phone with my wife. We had some CDs that matured, so she went down to the bank to see what they were offering. The rates on the new CDs are a joke.

Whatever you do, I suggest you consider something that is not in US$. With the debt, that might well depreciate over the next half decade or so. Just a thought.