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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (104113)	2/8/2008 5:18:48 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

My point is that banks have the advantage in every aspect. They're a powerful lobbying group for a reason. And the timing of the bankruptcy revision didn't coincidently occur just prior to the biggest credit boom in history. I don't disagree at all with caveat emptor or that ignorance is not an excuse. But I do despise the force that banks have become. I'm sure everyone has plenty of bad experiences to share in dealing with banks. My original point was that when banks screw up and overextend themselves, they get a bailout at taxpayer expense. When J6P screws up, he's got no out. In addition, he'll be paying coming and going. Banks have also gone to great lengths to create many hoops needed to jump through to comply with their ever changing terms. I once made a payment on Sat at a BAC branch which was due on a Monday. Their rule was that Sat transactions are not credited until Monday. It happened that Monday was a holiday Therefore, my payment wasn't credited until Tue. I was charged a late fee. It's all in the agreement.