Truth in Lending and Spelling

The Truth in Lending law in the United States was passed by Congress in 1968 to protect us.  Hard to believe, I know, but the lenders didn’t really want us to understand what it costs us to borrow money.  Not that they are trying to scam you, they just want to keep you in the dark.  Fico scores have been around for decades too but it took an act of Congress to give you and me access to that information.  (By the way, you may want to check your score at myfico.com.  It may have gone down this past month even if you did everything right.)  The lenders had to be forced to tell us what it was really going to cost us to borrow their money.  What sane person, after all, would pay over $220,000 for a $100,000 house?  OK, so you can afford the payment, so what?  Do you really want that payment for 30 years?  Or would you like to pay it off sooner?  The truth in lending law was a great start but your education is just beginning.  Learn more from United First Financial.

On a lighter note, this is what I call, “Truth in Spelling.”  Lisa home schools our kids and she asked Michaella to write her spelling words.  This is the paper she turned in.

truth in spelling