The weak dollar messing up EVERYTHING

[mellyhighohhh]

This will not be so much as an update as it is a rant on what’s currently bugging me.

My opinion, people are stupid and deserve to loose their homes if they can’t afford their increasing payments. What I want to know is why do I have to suffer because of their stupidity? Ok fine, it wasn’t entirely their fault, their lenders are partially to blame

Comments

[katie_keysburg]

You haven't consolidated your student loans? Even if you only have one lender, you can "consolidate" with another lender and get a fixed interest rate... and "consolidate" again if the interest goes down... but at least you know you won't have to pay higher interest...

Ok, when you "consolidate" they automatically drop your monthly repayment, so you pay less a month and it takes longer to pay off (in theory...) but you can send them as much money as you want a month as there is no penalty for "pre-payments"

I agree with everything else. Don't know why its my fault people are too stupid to get fixed rate morgages.

[mellyhighohhh]

Colsolidation is only for federal loans, not private loans with Sallie Mae, so I'm stuck with the variable rate.

[alethea602]

Plus once you've consolidated your federal loans, other private companies won't consolidate your private + federal loans again. it's weird (i tried to consolidate my private loans a few years back, after i had consolidated my federal ones).

And it's a moot point now. Federal loan interest rates are now fixed at 6.8% (i think it might be slightly lower for undergrads), but it's fixed. I think since the government is guaranteeing that rate, private lenders are not adjusting theirs anymore either. My private loan interest rates didn't moved during the last two interest rate drops.

As for the market, I blame the feds and the people who play with the stock market/hedge funds, etc. Basically they gamble about the future of the markets and that in turn drive the consumers. It's terrible.