Regarding mortgage loans and preference shares all the cases are not the same. Some people were deceived but others were greedy and believed what they were told by some irresponsible and ruthless bank clerks though it could hardly be regarded as logical. Some people were enticed / lured / wood into subprime mortgage, home loan at below prime rate (préstamo hipotecario de alto riesgo). They really needed a house and they agreed whereas others were offered a loan to live beyond their means with their houses or mortgages as the security / collateral / guarantee attached to the new loan.
Note: I’ll explain what I mean by “hardly be regarded as logical” in other comment.
Regarding mortgage loans and preference shares all the cases are not the same. Some people were deceived but others were greedy and believed what they were told by some irresponsible and ruthless bank clerks though it could hardly be regarded as logical. Some people were enticed / lured / wood into subprime mortgage, home loan at below prime rate (préstamo hipotecario de alto riesgo). They really needed a house and they agreed whereas others were offered a loan to live beyond their means with their houses or mortgages as the security / collateral / guarantee attached to the new loan.
ReplyDeleteNote: I’ll explain what I mean by “hardly be regarded as logical” in other comment.