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A comment on A software change allowed FTX to use client money. Parent comment

Re:A software change allowed FTX to use client money by vel0city on Wednesday December 14, 2022 @12:43AM (#33980381)
$10M ona 40 year term and a 2% rate is like $30k/mo in payments. I wouldn't say most people would think of $30k a month a super low payment.

And now that the bank has new ownership they might be able to refinance again and continue to kick the can down the road, but they're less likely to get as favorable of terms I'd imagine.

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Re:A software change allowed FTX to use client money by geoduck14 on Wednesday December 14, 2022 @09:17PM (#33994217)
Your math is right. I forgot to mention than the minimum payment might be less than the interest rate.

And the technical term for the type of refinance is "recast" (iirc) - so the "new bank" honors the terms because it is a part of the originating documents.

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