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Many mortgage lenders are also providing simple sheets of different scenarios, as well as affordibility guidelines, but I would suspect that lenders like the ones who are in trouble now were not among those lenders.

That's why I was suggesting a required class, to walk people through the details - many people, when they get their pamphlet/information sheets don't read them, just like they don't read the contracts that they are signing.

I hadn't realized that these were already offered. And, yes, a lot of people don't read the information they are handed. You can't protect everyone. But I've been reading some real horror stories about brokers who talked retired people into exchanging a traditional 30 year mortgage that had only a few years left to run for a balloon mortgage. And since I can't go out there in person and beat the sleazy brokers to death, I was trying to think of something that might stave off disasters.

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