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Many of us started to be prosecuted by our own government.
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According to the FTC, borrowers were not told that they would have to repay the loan in 30 days and that payment had to be made using certified funds, as opposed to cash or a personal check, in order to receive that rate.
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The question is whether the global economy has reached a point where something more drastic is needed to fire up growth -- such as the Babylonian solution of massive debt forgiveness.
With an $80,000 mortgage on each, the cash flow would be approximately $300 each month per house, which is $1,500 per month each or $18,000 per year.
The Bureau is proposing a broader definition than in Regulation Z for many of the same reasons discussed in the section-by-section analyses of proposed §§ 1041.
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And not only Under proposed § 1041.
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Almeda Washburn12 June 2015
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