We all lie when it comes to money. Banks tell lies. Mortgage brokers tell lies. All credit institutions tell lies. You and I tell lies. We may like to think we are above such behaviour but we are not because we are human.
Banks and other lending institutions say they care about their customers when in fact as we all know they couldn’t give a damn about their customers. The small print at the end of your loan agreement indicates how little they care about the customer. Their behaviour towards their customer when they get into trouble is a damning indictment of their pretence to care.
But are we as customers not just as bad? We lie about our salaries to get a bigger mortgage. We get the necessary false documents from the company accountant to verify this. We tell the bank that the lump sum we have as a deposit is our savings when in fact we got it from our parents or through another loan in order to boost our creditworthiness indicators to the bank. We don’t tell them about the other loans we have taken out. We say we want the loan for a new kitchen or bathroom when we plan to use it for a holiday. We lie about our credit card debts even though we know any lender will be able to check.
So the whole relationship and contract between the lending institution and the customer is based on false pretences. Nobody is defending the banks here – far from it – but should we not look at the part that we play ourselves when easy money is available and our false assurances of earnings are accepted as fact.
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