[zek157]

I understand not reading some parts of a loan, but the bottom line concerning what it is tied to, term before rate changes etc., are important. I also understand some people are at a serious disadvantage concerning basic math.

I would not expect an accountant to have such problems. Having said that they were screw as soon as the husband was laid off and the wife got sick. Not having an income would sink anyone. 30-40% of the country's working population would be in serious trouble not getting the 2nd check in any given month. Reading, or not reading the documentation is secondary to that main issue.

[RobRoy]

>>Not having an income would sink anyone. 30-40% of the country's working population would be in serious trouble not getting the 2nd check in any given month.<<

Yep. And a lot of economists and politicians are expressing concern over that exact problem. I have known plenty of people in my life that have lost jobs, yet did not lose their homes. There has been a fundamental shift in the way americans manage their money. As long as the pyramid scheme has not hit it's peak, everyone is just fine. But when it does, and it has, things will get a little dicey, nationally. Just how dicey remains to be seen.