Is your Home loan a Contract?

I recently received notice from my credit union that they were increasing the interest rates on the credit agreement that I have with them by over 36%. I  replied, writing, that I do not agree with the changes to this agreement and returned what they sent me. I await their response.

For the past month I have tuned out of the debate regards our economy. When I tuned in again yesterday morning, guess what, it was the same old voices rehashing the same old irrelevant crap. What’s the bet that none of them, including those trained in Law will ever discuss if your Home Loan Agreement is legally enforceable i.e. contract?

Superficial it would seem that these agreements are legally enforceable as judges are ordering repossessions of homes and people are being sent to jail for unpaid debts. Other would argue that they have to be or else no one would “pay their mortgage”.  To quote the evil one, “The great mass of people will more easily fall victim to a big lie than to a small one.” Adolf Hitler. Just follow this case in the UK to see the level governments and their enforcers will go to hide the big lies.   I have confirmation that many of these clips have been suppressed in the UK by the Government.

Contract law is fairly unambiguous. I will not pose here all the argument that home loan agreement are not enforceable contracts but I would suggest that if the financial institutions had valid contracts they would use the word contract as opposed to agreement. Not all agreements are contract.

There is a pile of wining that the government are bailing out banks and not the people. Of course, too late, it is  becoming apparent that the new Government is just a continuation of the old. It is up to those in distress to unite, get informed and challenge the higher powers or continue to be taken out one by one.


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