Quote:
Originally Posted by Ima saver
We were shocked to build houses for people that were retired but had to go to the bank to get a mortgage in order to build.
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It is possible that they were borrowing for good financial reasons. We've discussed before that quite a few of us around here have enough in savings to pay off our mortgages at any time but choose to keep the money invested where it earns a better return. It could also be a cash-flow issue. Their money could be tied up in annuities or they could have a cushy pension where they get a comfortable monthly income but can't access a large chunk of money all at once.
Or they could just be spending out the wazoo and living way beyond their means.
