Wednesday 15 September 2010

The Variable Rate, a trap...

In the United States, many people have borrowed from banks at a low rate to become the owners of a house.
They did not know that the reimbursement rate was not fixed but variable up to 14%. The poorest could no longer repay, they found themselves ruined and expelled. Whole districts became unoccupied, and empty houses were worth the price of a movie ticket.

Written by Jérémie, Anthony, Sofyan, Thomas, 4A

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