Loan =/= salary contract
Originally Posted by rdsesq
Let me ask you a question.
You get a home loan at 4.5% fixed over 30 years. 10 years into the loan, the bank comes to you and says "Hey, we really shouldn't have made that loan and we are not profitable anymore because making these type of loans. We want you to re-fi your house back to us at 8.75% so we can make a profit. How about it?"
What are you gonna tell the bank?
"My philosophy as a businessman has always been to take care of the people who make me successful. It has always been "we" in my business conversations with others. At a certain point in a successful business it behooves one to make sure those doing a good job of supporting you are not struggling to make ends meet."
Last edited by bimmerfan08; 12-13-2012 at 03:58 PM.