Blinky the Shark wrote:
> Nancy Young wrote:
>
>> Goomba wrote:
>>> blake murphy wrote:
>>
>>>> the lenders don't have any resposibility to point out potential
>>>> pitfalls of a variable rate, or even explain it adequately?
>>
>>> Mine always did, and lord knows we always had to sign a gazillion
>>> documents stating we understood risks and responsibities.
>>
>> Have they revoked Truth in Lending? You had to sign it a day or
>> two before closing. It states how much your payment is, how much
>> it will cost over the life of the loan, if it's an ARM how high your
>> payments can go, etc etc etc. No fine print, big numbers on an
>> easy to read form.
>
> No, but apparently paying attention has been outlawed.

(laugh) True. I think my fear of running out of money made me
pay attention. Those depression era parents leave a mark.

nancy