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Justin Pritchard

Loans: Know What You're Getting Into

By , About.com GuideJanuary 27, 2009

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Getting a loan?

Make sure you know what you're getting into by reading the fine print. There's plenty of blame to go around when we look for causes of the mortgage crisis. Part of the blame falls to borrowers who got into loans that they didn't understand.

Generation X Finance explains that people often sign loan agreements without understanding - or even reading - them. If you do this, you're responsible for whatever lies in the fine print, including high fees and rising payments.

Don't be embarrassed to ask about the contents of a loan agreement. The reason your lender has a job is to help you figure out the options and intricacies of loans - make them work for their pay by asking questions.

Further reading:

Comments
January 28, 2009 at 12:54 am
(1) Asset Reconstruction :

Thanks for sharing your suggestion through blog. Less knowledge is very dangerous because general people not aware of financial terms and not in a mood to read these term & conditions.I think this blog helps to people.

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