Why can people get loans that are in debt deep?
Written by Sam on November 9th, 2008
existingtobe asked:
My mom is in debt deep and takes out loans all the time to either pay the mortgage or pay off another debt. Why do loan companies allow this, except for the fact that they don’t care?
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My mom is in debt deep and takes out loans all the time to either pay the mortgage or pay off another debt. Why do loan companies allow this, except for the fact that they don’t care?
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3 Comments at "Why can people get loans that are in debt deep?"
The interest rateits steep enough so that if some do default they still make money.
Loans that nonhomeowners dont you do.
The thing is they loaned you.
The little bit that they are making lot of money off of money off of money off of the thing is they loaned you.