Reply to Courtesy Calls from Wells Fargo aka Shitheads

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]
The simple loan poster is just not even worth adressing, hopefully everyone here who is responsible for a mortgage payment understands, at the very least, that it is not a simple loan.  This was a comcept introduced in high school.
[/quote]

Except that it wasn't introduced in high school for many people. I'm the poster you say gets it, and I'm also the 2nd poster with a Wells Fargo loan who pays them on the 15th (so I can earn interest on the cash) but I've never been called by them.

We need financial education in the schools. DD can take the derivative of a log (useful for calculations involving compounding) but I don't think anyone at her school has taught the difference between simple and compound interest. Schools are too busy I guess.[/quote]

OK, lets take education out of the picture and insert &lt;common sense&gt;. When one is taking a loan out for a roof over their head and spending 100s of thousands of dollars, why do they not take the time to understand what kind of loan they have entered into??  I'm wondering how many of these people took out 2nd trusts that have a balloon payment and have.no.clue. that it balloons in 10-15 years. I bet this was extrememly common for loans given out pre-2009. It is scary that DCUM represent a highly educated demographic, but yet the comments on this thread are astonishing.

I remember in high school taking a half of a year of personal finance.  We even had to create and track a fictional stock portfolio with a 10K investment.  I attended public school.[/quote]

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