Re:Portugal’s Economic Revival
by pjmlp on Saturday December 29, 2018 @06:27AM
(#18783139)
Today I learned that lenders cannot deny loans, poor souls forced to give money away to everyone that asks for it, without any kind of background checks.
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> Today I learned that lenders cannot deny loans
Lenders can deny loans and they can also reflect the risk in the interest rate. However, lenders only provide their input after the borrower evaluates the impact of a loan on their finances and decides based on his evaluation that he clearly and unambiguiusly is willing and capable of servicing and repaying such a loan in full. Only after that decision is expressly made by the borrower can lenders be involved, and their involvement is restricted to rubberstamp the deal decided by the borrower.
How silly of me to think that it was the lender's responsibility to access the possibilities to get the money back.
Love these capitalism excuses.
Give money away, no questions asked, blame the borrower.