IMHO, Michael does not fully understand the problem and is on the side of business being allowed to make a buck any way it wants and that the 'buyer should be ware'. I can understand him to some extent, the buyer should be ware, but that is very difficult to do when dealing with lending. I highly doubt any of us that have taken out a home loan actually read all the fine print in all those documents before singing them. We trusted to some extent those with more knowledge of the circumstances to not be 'taking advantage' of us.
That being said, mortgage rates themselves are not the issue with 'predatory lending practices'. The lower your score for lending purposes the higher your interest rate will be. This is not 'predatory' in any way. I for one, do not want to live in a society that I have to know everything about everything in order to make decisions. When would I ever get work done to make the money needed to buy anything? Laws keep businesses on the straight and narrow to defend consumers from fraud of many kinds. Think about it!!!!!! Ron Leurquin Nokomis East REMINDERS: 1. Be civil! Please read the NEW RULES at http://www.e-democracy.org/rules. If you think a member is in violation, contact the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A Civil City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[email protected] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
