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Home Loans - The 30 Year Fixed Syndrome
I have been in the mortgage industry now for 7 years and in those 7 years the most request loan program has always been the 30 year fixed mortgage.
In recent years as a result of being exposed to various experts in the mortgage industry it was finally explained to me why so many people seem hell bent on this type of loan program. I going to start this out with a story that was told to me to best represent how people think and why the 30 year fixed rate loan is the answer to most consumers loan needs, or so they think.
The “Ham Story” goes like this; a little girl after several years of watching here mother cook dinner for the holiday’s, finally one day asked her mom why she cuts off the ends of the ham and throws them away before she sticks the ham in the oven? The mother responded that she wasn’t sure and that that she should ask her Grand-Mother. So one day the little girl asked her Grand-mother why her mom cut-off the ends of the ham and throw them away before she stuck the ham in the oven? The Grand-Mother responded, “I’m not sure ... more

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