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February 8, 2012
Predatory Lending
View our select resources to learn about predatory lending. See the predatory tactics that are used, how to protect yourself, existing predatory lending laws and more. |
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| What is Predatory Lending? |
A top-notch look at predatory lending. View a scenario that clearly demonstrates a predatory lending scheme where the lender targets the borrower's need for money and the borrower's ignorance. The borrower was approved for a loan although the lender knew chances were slim the borrower could repay it.
Learn those most commonly target by predatory lenders and how lenders select their victims. From the resource: "Over the past few years, predatory lending has become one of the biggest reasons for the increase in mortgage foreclosures. One reason for this is the increase in loans based on home-equity, not the borrower's income." |
| Source: SPOCH |
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