Why is interest rate higher for Full-Timers
The other day I received an email from the “Good Sam Finance Center” that many of you may have received as well. Just out of curiosity I looked at the interest rates and there were four different cat...
Forum Discussion
tatest wrote:Foodsman wrote:
tatest said: Substitute "itinerant" or "drifter" for "full timer" and think again about the question. You'll find many other lenders making that connection, and will not make a loan at any rate.
Wow, I've been lurking around the forum for just over a month now and this is the first time I've seen Full-Timers as "drifters, deadbeats" or worse... I always thought a Full-Timer was a choice, especially by retired folks, as a way to enjoy life and see this great country of ours.
A DEADBEAT, WoW I would think there are some who would not agree or appreciate that association.
Harry
I did not say "deadbeat" and did not so categorize full timers. But loan committees look at people without a fixed location differently than those tied to real property. It is a fact of life in our society.
They are looking at the collateral differently. Not necessarily the borrower. It is still the three c's and increased risk in any of them increases the rate.
