Mr. Obama, Would you like to come to a Mortgage Party?

What is a mortgage party?

This is going to be the party of the year, the biggest bash in memory. It's not a celebration and it's not a funeral. It's called a Mortgage Interest Party. At this affair I am going to publicly demonstrate the way in which the bank does the interest calculations on a mortgage. The manager of the mortgage bank will be present and he will confirm that the bank, while not actually ripping me off in the calculation, is not my friend as I always thought.

Everyone is invited to come and watch me do mortgage interest calculations

Despite the hard time I am having financially, I am determined to go ahead with this demonstration. I am taking a Payday Loan to pay for this party.

My mortgage

We were newlyweds when we saw the cottage. Red clay tile roof, cottagy wooden windows, one bedroom and a living-room-kitchen arrangement that soon became all kitchen as we discovered the delights of cooking and eating. The price was about $4,000 and I never had a bean. I got on my knees in the mortgage bank and I was granted a mortgage of $3,800. I took a job as the night clerk at the local motel to raise the rest of the money. The cottage was ours, or rather, the bank's.

Construction mortgage

Our first son was born a year later and I applied for an extension to add a room. It was granted and again I went back to the motel to raise the missing dollars. Our son had his own room. I owed the bank close to $5,000. A year later another son arrived and again I was knocking on the manager's door at the mortgage bank to raise funds to add another room and again I returned to my job at the motel. ... click here to read the rest of the article titled "Mr. Obama, Would you like to come to a Mortgage Party? "