To: Hydroshock
The bank said it clearly spelled out the loan terms, but the judge found that Chevy Chase violated the Truth in Lending Act (TILA), which mandates that mortgage documents must be clear and understandable. It is impossible to make an idiot-proof mortgage. They just keep making better idiots.
2 posted on
08/20/2007 9:58:38 AM PDT by
TChris
(The Republican Party is merely the Democrat Party's "away" jersey - Vox Day)
To: TChris
A bank offered a young man I know a no down payment 110 percent loan on a fixer upper with interest only payment first two years. Never heard how much the interest rate was but am guessing in the 20's.
It's a disgrace what they're trying to do to young people who have no idea.
To: TChris
How do you prove that Chevy Chase bank in fact decieved you, and you’re not just stupid?
57 posted on
08/21/2007 3:15:45 PM PDT by
RockinRight
(Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson