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Originally Posted by DeeJayH so since he agrees i must as well? |
He is not ignoring some major portions of my statement, as you must be doing in order to not comprehend the comparison.
Such as: "
AS LONG AS YOU MEET THE GUIDELINES FOR REFINANCE" and "
A refi would be like an amendment, though, in the vernacular of the analogy."
The fact that changes
can occur, but
only under certain
specified conditions and with a
specified procedure was my point. It was not a disagreement with the analogy, it was a continuation. It means that even though the constitution is not a "living document", it is not "set in stone" either. It can be changed under the right conditions.
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since a borrower can not 'make' a refi fit his needs any given day because he does not control the terms, i fail to see how it works in this thread
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I'm sorry you don't get it. It's about the potential for change existing under the right conditions. Its about the procedure that would initiate that change being present, and being defined.
Maybe if I broke it down for you into it's basic parts so that you can ignore whatever is confusing you and focus on the meanings of the analogies.
Since these were an analogies, we have imperfect equivalencies, i.e. there is a comparison being made.
Harshaw made a comparison of "A Mortgage = The U.S. Constitution"
As a continuation of the analogy I made a comparison of "Refinance = Constitutional Amendment"
One is the comparing the two documents in the sense that they cannot be changed
on a whim.
The other is describing the defined procedures which can be used to change the documents.
Does it make sense yet? The conditions that would initiate the procedures are not defined nor were they ever defined.
P.S. The "conditions of the refi" are only analogous to the "details of the amendment". That is, the "rate" and the "conditions/terms of the loan" are more correctly analogous to the "details of the amendment" while the Bank would be analogous to Congress (i.e. they decide on the potential terms) and the underwriter could be compared to the Executive branch with it's "veto power"... in the vernacular of the analogy.