2cents
Member Since March 3rd, 2008
My Latest Blog Entry
foreclosures and the banking industry
posted 25 weeks ago
It'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. Read more
