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foreclosures and the banking industry
Posted 37 weeks 3 days ago byIt's about time to change the banking laws.Interest rates served only the banking community. If folks were free of interest, at least on long term debt of 7 + years, they would have more cash to buy more goods and thus the economy would once again start to steam roll.
There should be only a one time usury fee for home loans generated by the (so-called) Fed. This fee should not exceed more than 3% of the loan value. So borrowing $100K there would be a simple interest charge of $3,000.00. This could be figured into the life of the loan or paid up front.
