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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (21761)	8/29/2007 9:42:40 PM
From: Ilaine	Respond to of 217917

Suing lenders may sound nice on paper but given that banks are able to hire squadrons of defense attorneys, no thanks. Might work in some states, but not Virginia, where a written contract is enforceable in the absence of outright fraud. Being too dumb to comprehend or even read the contract is no excuse. My biggest fear is that some bleeding heart will try to bail out subprime borrowers by getting FHA to relax lending standards. Bernanke's talking about this. It is, of course, a paradigm example of moral hazard. Adding liquidity is one thing. Bailing out bad loans is something else entirely. BTW, I wouldn't mind usery laws coming back, not that this would help with 9% mortgages. I'm seeing 500% interest, and more, on "payday loans," a new scourge of the feckless.