News · moment 5 of 29
Casino Dreams and Adjustable Rate Mortgages Making a Comeback
from Ladies Who Lunch w/ Chelcie Lynn and Libbie Higgins | The Tim Dillon Show #311 · #311
2 min
News
They joke about Oklahoma casino culture as an aspiration, then Tim riffs on his old telemarketing job selling mortgages and reads a news bit about ARM loans making a comeback.
- Casino life: people work at casinos with a life goal of winning money in a room where they can smoke.
- Tim thought he'd be stealing old people's houses, which he wishes he was doing because it's a better job with more longevity and less wear on the body.
- His actual job was calling people in Oklahoma to sell them double-wide houses on a foundation with easy mortgages.
- The pitch was simple: call places, tell them they qualify for all this money, and people signed up for many years.
- ARM loans are coming back now because interest rates are high and people are priced out of the market.
- Adjustable rate mortgages are being marketed as a solution, with demand for them tripling since January as rates climbed.