Thursday, January 29, 2009

Suck it in and get on with it

The unwarranted OCR bailout today tipped the scales on a couple of my 5 year fixed rate mortgages into negative terrority. Not worth breaking the contracted mortgages as that was the risk I took and I have enjoyed the previous three years in my favour.

I just cannot believe that Goff would suggest mandatory breaking of fixed mortgage contracts as a nice way of helping his Liarbour voters. That is absolutely ridiculous and has the potential to backfire downtrack as the economy recovers. The banks would be equally in their rights to cancel such contracts on an upward swing in their favour.

Just suck it in and get on with it. Like me, you took the risk on your contract.

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