Moderate slavery
The most important Amendment

Banksters and boobs

Of all people, a real estate agent is crying about the greed of banksters:

When the pandemic hit Ontario, Kristina Barybina's income as a real estate agent dried up and she knew the writing was on the wall — she'd have to sell her own house.

She also knew there'd be a penalty for getting out of her five-year mortgage with TD Bank early — she just wasn't expecting it to be almost $30,000. "I thought my eyes were going to pop out," said Barybina. "It's insane."

Later in the article:

She was only 19 months into a five-year mortgage, with a fixed-rate of 3.71 per cent, and still owed $591,000. TD used a controversial calculation to arrive at the penalty for breaking the terms. She owed another $29,530.

$29,530 out of $591,000. That's a 5% penalty for getting out of the mortgage. It's steep but not unreasonable. It looks insane because the dollar amount is huge.

What should be more concerning is that this woman accepted over half a million dollars of debt less than two years ago while having zero emergency savings. She was on shaky ground even before the virus hit as she tried to sell the house six months ago. This means that her normal income streams weren't sufficient to cover all the bills.

She also shot herself in the foot by going public with this story. I certainly wouldn't want to hire this whiny fool as my agent.

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)