Only in hyper-litigious America would you find people claiming that they were fraudulently induced into signing a mortgage because the lender “failed to disclose to borrowers some fact about the borrower’s own financial situation.”
Tanta of Calculated Risk dishes out the money quote:
The Popsicle Index is the % of people who believe a child can leave their home, go to the nearest place to buy a popsicle or snack, and come home alone safely. For example, if you feel that 50% of your neighbors believe a child in your neighborhood would be safe, then your Popsicle Index is 50%. The Popsicle Index is based on gut level feelings of the people who have intimate knowledge of a place, rather than facts and figures.
I’m pretty sure that I feel that at least 50% of my neighbors believe that granite countertops are like a retirement account you can put hot pans on, but certain ugly facts and figures keep intruding on the conversation.
I certainly see fraud here – those granite countertops were obviously built from popsicle sticks – someone should sue the appraiser.