Let’s Treat Borrowers Like Adults

Payday Pundit found an excellent opinion, written by Todd J. Zywicki, professor of law at George Mason University, in the Wall Street Journal titled, Let’s Treat Borrowers Like Adults.

The opinion is a great read, but I seem to be enjoying the comments these days. This one is hilarious:

Darren Keenan wrote:
Hear hear, yes. Let’s treat adults like adults. When it comes time for me to pull some of the equity out of my home, I want all the options I can get. If those options are too complex for me to understand, then I (and by “I”, I mean everyone) shouldn’t be looking to use those products. “A man has to know his limitations” someone once said.It would be nice if we had the option of signing a piece of paper declaring our adulthood so we could take advantage of programs outside the government’s purview. While removing risk usually lowers rates, in this case, the cost of risk removal would lead to higher rates. Can I (being a mature adult) decide for myself what risk/rate I find acceptable?That would be a nice change from where things are headed.

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