How does someone who is not smart, who cannot read or do basic math, going to get smart enough to avoid criminal offers of mortgages?
Nope. The legal system requires that contracts entered into be of mutual agreement, yes, but also requires informed consent of the parties. Those who are mentally disadvantaged, and there are a lot of them, really can't be fully informed.
Most offers were NOT criminal... but if these people are not competent enough to enter into legally binding contracts, they shouldn't be allowed to vote either. No libtard will ever make that argument though.
You're mentally disadvantaged to argue that it's reasonable for adults to not know what they can and cannot afford. In the very few cases where someone who was truly mentally disadvantaged was duped, the contract should be nullified. But show me numbers. That's the rare exception, not the rule.
yes you can ( or could in the past)...hence the reason we are in this mess. You seem to think people give a fuck about second grade math, if they did the American consumer wouldn't be the powerhouse they are. Americans ( the majority ) could care less if they could or could not afford something, they just want it...peace
yes, I will say that. Because if given the opportunity people will cheat, so it is up to the lending side to only lend to qualified individuals. Would you lend somone money if you knew that there is a huge chance they could not pay you back? The only way you would do this is if it wasn't your money and you were getting a huge bonus .... and don't give me they "signed on the dotted line" bullcrap....As a lender they should have required PROOF of everything that was being signed was the truth ( through documentation, like in the past )
The lenders suck and deserve to lose but that still doesn't give people the right to be deadbeats. At the end of the day it's the deadbeats who are more wrong because they're the ones who broke their end of the contract. You can pretend contracts don't matter but that doesn't make it so.
I agree. I am offered "loans" from credit card companies all of the time. Just because they offer it does not mean I blindly accept! Know your limits.
"Their end of the contract"...that's my point why on earth were they given the right to enter into this type of contract?? surely you can't put the blame on them for something this stupid. Bankers are MBA's / PHD's
Why do you think people should be held blameless for failing to honor legally binding contracts? What other legally binding contracts do you think people should be blamelessly excused from?