0
Predatory leading is the unfair, deceptive or fraudulent of some lenders during the loan origination process. Typically occurs on loans backed by some kind of collateral, such as a car or house.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What is predatory lending practices?
The link below has the definition.
Can a equity loan get audited for predatory lender?
If you feel you are a victim of predatory lending then by all means it should get audited
Has Drive Financial been accused of predatory lending?
yes it has been accused
Can I get a payday loan if my SSI payments are direct deposited?
Check with your lender. But in general - yes. Be aware of predatory lenders and predatory lending practices.
Is there a place on the internet where I can print out information on the dangers of payday loans?
Payday loans come under the heading of "predatory lending." There are interesting articles at http://www.texpirg.org/financial-privacy-security/predatory-lending AND www.responsiblelending.org/consumers/ You can go to . The article advices on the dangers of payday loans.
Who is David Scoll?
Former Philadelphia, PA bankruptcy law judge specializing in bankruptcy related to predatory lending violations.
What is predatory?
Predatory lending is when a real estate agent convinces a borrower that they should obtain a loan. The loan usually has unfair and fluctuating rates and they prey on the borrowers need and desperation even if the borrower does not have the means to repay the loan.
What is a word meaning lending a hand?
Assisting
How do you know if you are a victim of predatory lending?
There is the occasional unscrupulous loan officer who misrepresents his or her product to make a buck. He or she may try to sell you something you don't understand, such as a product with a great introductory rate ("teaser rate") that later skyrockets into a massive liability. He or she may offer you what seems to be a competetive loan rate, which suddenly doubles once you add fees and administrative costs and his or her commission. This is predatory lending. You are a victim of predatory lending if you could not (or did not) understand what you were agreeing to, and a loan officer took advantage of that. There are legal recourses for this, including the loan officer losing his or her license to sell financial products. You are NOT a victim of predatory lending because you pay a high interest rate, you decide now that you can't handle the debt you took on, or you saw an ad on TV by a sleazy trial lawyer promising to make you a "victim" in a big lawsuit.
What is the meaning of lending?
Lending is the monetary help which is provided by some financial intitution to the needy persons or organisations.
What a person who can afford a monthly payment of __________ and signed a mortgage with a monthly payment of __________ was most likely the victim of predatory lending.?
It is actually $800; $900
What do consumer advocates do on behalf of consumers?
Consumer advocates help to educate consumers about their rights to prevent corporate abuses like predatory lending, misleading advertising, or other dangerous corporate practices.
