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the dangers of binding mandatory arbitration (bma) clauses


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bma in mortgage clauses

getting a mortgage? the vast majority of mortgage companies have bma clauses. you can protect yourself in several ways:

  • make sure your mortgage qualifies for either a fannie mae or freddie mac loan. neither fannie mae nor freddie mac allows bma clauses in their loans (does that tell you anything?)
  • get your mortgage through a credit union or independent financial institution. make sure that institution does not have a bma clause.

 

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arbitration in car contracts

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