4 ms·
This sounds like a monumentally terrible deal for the creditor. There's nothing securing that loan, if the debtor went bankrupt the creditor would lose all of i
by MertsA 8y ago
This sounds like a monumentally terrible deal for the creditor. There's nothing securing that loan, if the debtor went bankrupt the creditor would lose all of it. If it was secured by something like the value of a home then that's just a regular reverse mortgage.
- rory096 8y agoEven the initial price is not far from the credit card limits middle class people with good credit can obtain unsecured. Obviously the interest rate on that would be usurious, but Blue Origin has enough marginal profit margin (and cash) that it could conceivably finance the program at reasonable/zero interest with tolerable risk.