Friday, February 11, 2005
A Hypothetical Question
"A" buys property subject to a mortgage. By the terms of the mortgage, the payment will increase sharply in five years and gradually continue to increase from that time. "A" realizes that he will have a problem making the larger payments in the future, but for now he is OK. "A" also has a car loan. He has an opportunity to refinance the car loan on advantageous terms to obtain a smaller payment without lengthening the term of the loan. "A" should:
a. Do nothing
b. Decide that he has nothing to worry about until 5 years from now
c. Refinance the car loan and invest the savings
d. Call people liars when they point out that he is headed for trouble and needs to do something about it
Social Security reform. It won't solve all the problems, but it's a step in the right direction.
a. Do nothing
b. Decide that he has nothing to worry about until 5 years from now
c. Refinance the car loan and invest the savings
d. Call people liars when they point out that he is headed for trouble and needs to do something about it
Social Security reform. It won't solve all the problems, but it's a step in the right direction.
Comments:
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I'd go with C, I guess. Thanks for putting my site under the Links heading. I just finished a post about the English language and how it develops, your opinion on it would be welcome.
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