My own opinion, and I'll probably see a bunch of incoming for this position, is that when a young couple, not yet financially established and stable, buys a $350,000 house with 0% down and a variable rate mortgage with interest only payments for the first couple of years at which time the whole thing balloons, it's hard to feel too sorry for them. Sure, a lot of them are taken advantage of by predatory lenders, but the onus is still on the buyers to read and UNDERSTAND what they're getting into.
My wife and I bought our first house two weeks before we were married. At that time, the lender required 30% down. We shook trees and scraped barrels, then went back and shook the same trees and scraped the same barrels, but we did it. My wife told me after the fact that her father offered to loan us the money for the down payment and she refused his offer. She told him we'd either do it on our own or we wouldn't do it. Those happened to be my sentiments, also, even if I didn't have the chance to express them at the time.
Too many young couples nowadays think the world owes them a big fancy house simply because they're Americans. As Mark Twain put it, "the world owes you nothing; it was here first".
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Today's Featured Article - Tuning-Up Your Tractor: Plugs & Compression Testing - by Curtis Von Fange. The engine seems to run rough. In the exhaust you can hear an occasion 'poofing' sound like somethings not firing on all cylinders. Under loaded conditions the tractor seems to lack power and it belches black smoke out of the exhaust. For some reason it just doesn't want to start up without cranking and cranking the starter. All these conditions can be signals that your unit is in need of a tune up. Ok, so what is involved in a tune up? You say, swap plugs and file the points....now tha
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