Predatory lending is defined by the FDIC since the act of “imposing unjust and abusive loan terms on borrowers” and also the loans are disadvantageous to borrowers.

Predatory lending is defined by the FDIC since the act of “imposing unjust and abusive loan terms on borrowers” and also the loans are disadvantageous to borrowers.

Abusive Lending Techniques and Foreclosure Defense

Lenders use aggressive mail, phone, television as well as other kinds of marketing with claims of loans to leave of financial obligation, or even an interest that is false rate on a mortgage, fast cash till the following paycheck will come in, or other ways of luring in uneducated or naive borrowers. Continue reading “Predatory lending is defined by the FDIC since the act of “imposing unjust and abusive loan terms on borrowers” and also the loans are disadvantageous to borrowers.”