NC To Ban Lending Freedom
Democrats in the North Carolina Legislature are upset at the free market. They're so upset that they've introduced four different bills to attempt to interfere with and limit people's freedom to engage in economic transactions. Of course, Democrats are calling it "fairness."
In the example cited, a person willingly agreed, in writing, freely, to a transaction. In return for paying some money, they would receive a piece of land. However, after they made the agreement, they decided they didn't like the agreement. So, the person wanted out of the agreement. Of course, since it was a free and legal transaction, the editorial writer complains that "no attorney would take her case." So the legislature wants to get in the way of that free transaction. So, what would be the result of these actions by the legislature? Increased costs for home loans. You see, the Democrats in the legislature want to give business to lawyers and allow lawyers to sue mortgage companies who don't spend more money on loans. In case you don't understand how mortgage companies work, they exist to make money. So if they are required to SPEND more money, they will CHARGE more money. And if lawyers are allowed more options to sue them, they will have to spend MORE money for insurace against lawsuits. So they will charge even MORE money. So, if you're looking for a home loan and you want to complain about the high fees and expenses, look no further than the Democrats in the North Carolina General Assembly -- they want to take more money from you and put it in the pockets of lawyers. All in the name of "fairness," of course.
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