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To: LongTimeMILurker
the borrower SHOULD BE FULLY INFORMED, and that is the lender’s job.

I disagree. I cannot make you informed.

I can make information available, I can make sure it's complete, I can avoid tricking you or lying to you, but I cannot make you informed.

Unless there's evidence that the lender somehow failed to disclose something here, then it's the buyer's fault if they are not informed.

It would be highly illegal for a lender to represent a contract as fixed rate, when it is not.

Unless they did that (and the "journalist" her didn't bother to ask that), then it's the borrower's fault that they thought it was fixed-rate.

On the other hand, it's just the "journalist"'s word that they thought this, the video doesn't show her saying it, it's just a voice-over. So how much do you trust THAT?

14 posted on 04/21/2008 6:42:14 AM PDT by Izzy Dunne (Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
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To: Izzy Dunne

When I was in high school a guy in our neighborhood gave us the scoop on interest. It only goes up. His name was Angelo “Sonny” Mercurio.


15 posted on 04/21/2008 6:46:09 AM PDT by massgopguy (I owe everything to George Bailey)
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