My view is that money lending is the world's third oldest profession and is one that will always be with our foolish, impatient and opportunistic species. (snip) Money lenders have fierce focus, powerful political pull, are insatiable and constantly seek greater pastures. (snip) Money lenders are about making more and more money. (snip)
I was amused to read yesterday about the growing push for forty-year amortized real estate loans. Amused not for the term but for the seductive suggestion that stretching a loan out ten years longer makes sense for consumers. We already have interest-only loans. (snip) Trust me, lenders will continue to be inventive, persistent and successful in their quest for more business. Their business plan includes making more loans. This they will do by any means.
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