Comments on: Road to Ruin: Burned by Brokers http://donklephant.com/2009/04/15/road-to-ruin-burned-by-brokers/ Big Teeth. Huge Ass. Surprisingly Reasonable. Mon, 23 Nov 2009 05:56:10 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: kranky kritter http://donklephant.com/2009/04/15/road-to-ruin-burned-by-brokers/comment-page-1/#comment-447078 kranky kritter Thu, 16 Apr 2009 17:29:38 +0000 http://donklephant.com/?p=14466#comment-447078 Unscrupulous brokers are an utter disgrace. When possible, they should be prosecuted. At the same time, I can make no judgement as to whether this woman actually deserves my sympathy unless I know how much she owes and what her monthly income is. Was she in a sustainable situation prior to transitioning into this nee loan? Did she even try to read what she signed? Everyone who buys a home needs to understand the math so they can figure out what they can afford. Doing the math just isn't optional. No one <i>deserves</i> to get screwed by unscrupulous loan people. No one. But if you don't develop a grasp of the math underlying loans, and if you don't review the papers you sign, then you are letting yourself get screwed. You are helping it to happen. Folks this is a teaching moment. Look at all the people all across the country who have gotten screwed because they couldn't hang in their and learn the math behind mortgages and the mechanics of operating with paperwork as an adult. In what fantasy world would anyone claim that such understanding could be optional or unnecessary. Be math-literate, or be a sucker. Unscrupulous brokers are an utter disgrace. When possible, they should be prosecuted.

At the same time, I can make no judgement as to whether this woman actually deserves my sympathy unless I know how much she owes and what her monthly income is. Was she in a sustainable situation prior to transitioning into this nee loan?

Did she even try to read what she signed?

Everyone who buys a home needs to understand the math so they can figure out what they can afford. Doing the math just isn’t optional.

No one deserves to get screwed by unscrupulous loan people. No one. But if you don’t develop a grasp of the math underlying loans, and if you don’t review the papers you sign, then you are letting yourself get screwed. You are helping it to happen.

Folks this is a teaching moment. Look at all the people all across the country who have gotten screwed because they couldn’t hang in their and learn the math behind mortgages and the mechanics of operating with paperwork as an adult. In what fantasy world would anyone claim that such understanding could be optional or unnecessary. Be math-literate, or be a sucker.

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