Re:The Student Loan Debt Crisis Is About to Get Worse
by pc86 on Wednesday October 17, 2018 @12:15PM
(#18240516)
Who doesn't plan to pay off their mortgage? What does that even mean? It's a 10-30 year debt, not a car lease. You don't really have the option of not paying it off unless you want to get foreclosed on and have a really hard time finding a place to rent.
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Re:The Student Loan Debt Crisis Is About to Get Worse
by EpicEng on Wednesday October 17, 2018 @02:38PM
(#18242212)
I believe the GP meant that these people do not intend to stay in the same home beyond the life of the mortgage. So yes, they pay off the original loan when they sell, but they immediately turn around and take out another.
I don't agree with the GP on much of anything they said there, but that's my take on it. Maybe they meant interest only loans? I don't know why anyone would take out an interest only loan for a primary residence they intend to live in for some time, but I'm guessing here.