Better yet, change the usury laws to be assessed as flat negotiated fees as part of the loan, up front, so that a borrower with a 30 year loan doesn’t think it’s “five percent” of $100,000, which is $5,000. When they see that they end up paying $80,000 in interest on their $100,000 home, they’ll think twice, or even refuse.
Adding it to the 'dangerous ideas that could work' category.
> Better yet, change the usury laws to be assessed as flat negotiated fees as part of the loan, up front, so that a borrower with a 30 year loan doesn’t think it’s “five percent” of $100,000, which is $5,000. When they see that they end up paying $80,000 in interest on their $100,000 home, they’ll think twice, or even refuse.
Adding it to the 'dangerous ideas that could work' category.
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