***Post a MEME Thread***

TBSS said:
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I don't think the link went bad, I think it was censored. I've suspected this for a while.

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Mr. Hipster said:
Paid 11% for two years, reduced to 9% for the term, starting in 8/89, cry me a river. Inspired me to pay double, cleaned it up in 9 years.
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About the same... 10.75 in 1990.. double and tripled to turn a 15 yr fixed into a 8 year done and paid for.. I absolutely LOVED doubling and more in the beginning when I would calculate the allocation , and realize that everytime I did it I would save a year's worth ( or more ) of interest..
 
Mr. Hipster said:
Paid 11% for two years, reduced to 9% for the term, starting in 8/89, cry me a river. Inspired me to pay double, cleaned it up in 9 years.
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TBSS said:
I did a similar pay down. 10.5% in 1979, then 7.5% after 15 years. The re-finance knocked 3 years off the 30 year mortgage because I kept the monthly payments the same. The whole time I was paying an extra $50 each month.
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JHOLE said:
About the same... 10.75 in 1990.. double and tripled to turn a 15 yr fixed into a 8 year done and paid for.. I absolutely LOVED doubling and more in the beginning when I would calculate the allocation , and realize that everytime I did it I would save a year's worth ( or more ) of interest..
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Exactly, many of us have been there done that. Some do not remember those days. We will survive and make it out the other side. I bought my first house at 29yo $44,000 on Long Island 10% interest.
 
ironpony said:
Exactly, many of us have been there done that. Some do not remember those days. We will survive and make it out the other side. I bought my first house at 29yo $44,000 on Long Island 10% interest.
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Bought my house in 2016, interest rate was 3.25%. I remember my father laughing at me when we bought the house and I was complaining that interest rates were going up and I ONLY got a 3.25%. He told me he had an 18% and an 11% in his day (fucking Jimmy Carter!). Got divorced last summer, bought out wifey-poo, re-fi'd at 3.625%. When I re-fi'd my brother reminded me of the conversation with my now deceased father and we had a good laugh over it.
 
DBM1963 said:
He told me he had an 18% and an 11% in his day (fucking Jimmy Carter!)
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I remember that era as a kid. Next thing in line were price controls, no one was allowed to raise prices in an effort to rein in inflation. I assume that's coming for us too. Can you say Squeeeeze small businesses out of existence?
 
We bought a house at 14%, later refi'd for 8%.

The worst was a new home we bought in Chino Hills in the early 80's. It had a deferred payment with a balloon. You could pay the minimum of $1100 a month but really was $2250. You deferred the rest along with stupid interest. We chose the $1100 thinking we could play catch-up with double payments later. Guess how that worked out? We got out of it when we sold it and that balloon & interest ate up all the gain. I think those things are illegal now. Got you into a home you could never otherwise afford.
 
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