From Households to Banks: The Gift that Keeps on Giving In what is surely an inevitable depravity once the legitimacy of interest on household mortgage debt has been accepted, the front-loaded mortgage allows the banks to keep cashing in. Here, banks not only take oodles of interest which they shouldnt take in the first place, front-loading that interest simultaneously keeps the outstanding principal, on which interest is charged, as high as possible and delays its payment for as long as possible, pushing back as far as possible any claim a homeowner might have to her/his own home: something which will pay yet again when the bank gets to take the home itself, in the next routine collapse of the capitalist system... Click the link for more. Please share ↓
Posted on: Sat, 06 Dec 2014 14:53:35 +0000
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