Daily Archives: October 28, 2004

THE TWO-INCOME TRAP: WHY LENDERS WANT YOU TO LIVE BEYOND YOUR MEANS

Sources: FDIC, Census Bureau, Cardweb.com, BankruptcyAction.com An obscure legal loophole, discovered in 1978 and validated that same year by the US Supreme Court, changed forever lending and borrowing practices, and the housing market, in the US. Until that time, interest … Continue reading

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