“Foreclosures in Military Towns Surge at Four Times U.S. Rate”
May 30, 2008 | Uncategorized | Comments (0)From Bloomberg, “Foreclosures in Military Towns Surge at Four Times U.S. Rate.”
Thanks to Free Market Lending for the commentary….
Interestingly, CUNA the Credit Union National Association somehow used the study as a way to try to bash payday lending, despite the 36% APR cap on payday loans to members of the military and their family.
If anything, this shows at least a correlation suggesting the opposite. The federal government capped the rate on short term credit to members of the military, lenders stopped providing short term credit to military members , and now foreclosures are higher.
Very interesting.
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