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Living through the Decades : Swingers Discussion 1142411041
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FORUMSGeneral DiscussionsSenior SwingersLiving through the Decades
TOPIC: Living through the Decades
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I remember having to jump through all kinds of hoops and having to wait for months to have a $88K mortgage approved for our current home back in 1988. We had great credit and I'd been employed at a reasonbly-high level of income for 16 years at that point in time.

That was before the lending rules were relaxed -- dare I say, eliminated? -- which is largely responsible for the current mess we're in, where mortgages are handed out with little regard to financial fitness.

I was astounded a few years ago, when my daughter and her then-husband were approved for a $150k condo. Neither of them had more than a year on their present, low-paying jobs, and our son-in-law was in a volatile occupation (IT) that saw him moving from job-to-job with more often than we visited our favorite restaurant!

Trenton MI
 
 
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TOPIC: Living through the Decades