How to protect yourself from predatory lenders.
The other day someone asked me what I thought was the biggest contributor to today’s mortgage mess. I thought about low interest rates, inflated home prices, Mortgage Company lenience, and subprime lending. It’s difficult to say that there was one root more responsible than another since they all played together in one big mortgage mess. However, if I must choose, subprime lenders get the most blame in my opinion. The main reason they get the blame is because of the ugly gremlins that spawned out of subprime lenders. These offenders are commonly referred to as predatory lenders. The situation has gotten so bad that there is legislation being discussed by congress. The intention is to curtail the many practices commonly described as predatory lending. Read the rest of this entry »
posted in Financing, Foreclosure, Mortgages | 2 Comments
