Predatory financing is defined by the FDIC given that act of “imposing unjust and abusive loan terms on borrowers” and the loans are disadvantageous to borrowers.

Predatory financing is defined by the FDIC given that act of “imposing unjust and abusive loan terms on borrowers” and the loans are disadvantageous to borrowers.

Abusive Lending Methods and Foreclosure Defense

The lenders use aggressive mail, phone, television along with other kinds of marketing with claims of loans to leave of financial obligation, or a false interest home loan price on a mortgage, fast cash till the second paycheck will come in, or any other ways of luring in uneducated or naive borrowers.

Anybody can develop into a victim of predatory lending. Continue reading “Predatory financing is defined by the FDIC given that act of “imposing unjust and abusive loan terms on borrowers” and the loans are disadvantageous to borrowers.”