On Mon, 24 Mar 2008 20:51:31 GMT, "Lord Turkey Cough"
wrote:
>
>However once it leaks out
ITYM : once some people start actually read things like "terms and
conditions" and "small print" when taking out a loan (aka "debt")
> that unsecured loans are infact secured
>on people homes the banks may well find a lucrative supply of easy
>money dries up.
I hope there aren't that many ignorant people out there who think an
"unsecured loan" means "a loan I don't have to pay back if I decide
not to no matter how much money/property I've got"
>It would become rather insane for anyhome owner to take out
>n 'unsecured' loan and pay the high interest rates associated with them.
It always has been insane,
Cheers,
John |