“Ohio is faced with one of the highest foreclosure rates in the country, and our cities are being particularly hard hit. Instead of living out the American Dream, thousands of Ohioans are facing a nightmare on Elm Street and Euclid Avenue and East Market Street. Congress must act to provide greater protections for consumers, and this legislation is a necessary first step. No longer should the dreams of Ohioans and homeowners across the country fall victim to the fine print,” Ohio Senator Sherrod Brown said in an interview with The Logan Daily News.
The fine print.
How often have we allowed someone else to explain something to read the “fine print” to us and not taken on full responsibility for our own actions.
And while I’m very much in support of being responsible for our own actions, there are those in business that make it very difficult.
Nigel Swaby’s Salt Lake Real Estate Blog recently addressed this issue. In one section, Nigel writes:
The body of the letter says this loan is a way to lower payments and accelerate principle reduction, yet the fine print says the principle amount will go up if the borrower pays the 1.75% payment rate.
That’s right sport’s fans, the “body” of the advertisement is contradicted by what is in the “fine print”. And I’m sure this is totally legal. However does that make it right? History is littered with items that were “legal” but not ethical and some remained legal while others are no longer.
Should this be legal? No.
I’m all for free enterprise, but this is akin to lying to the general public. In one sentence this promotion is going to help the consumer, however in the fine print it rules that null and void.
So most importantly, how can we protect ourselves in Delaware Ohio?
- Read the fine print in all promotions.
- If it sounds too good to be true, it probably is.
- Use an agent or company that you can trust.
Good luck and protect yourself.
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