Tuesday, June 03, 2008

A form of predatory lending, maybe?

I love this quote in Ben Lanka's article about the undisclosed hidden cost of the Harrison Square Project:

John Stafford, director of the Community Research Institute at Indiana University-Purdue University Fort Wayne, said people should expect there to be interest costs associated with the project. The process is similar to buying a house, he said, when the total cost of the loan is far greater than the purchase price of the home.


Sounds like predatory lending to me..

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