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Predatory lenders can charge higher interest rates because someone with bad credit is considered a higher risk than someone with good credit?
Some lenders will charge a higher interest rate to someone with a low fico score or "bruised credit". They are not necessarily "predator lenders" but must take a higher risk than the bank. I am assuming that you are referring to real estate lending. There are private lenders, institutional lenders, mortgage brokers, and mortgage bankers. I would suggest you check with a member of NAMB. National Association of Mortgage Brokers. They are licensed in each State they operate in and also uphold their standards to the Mortgage Broker Code of Ethics. They are licensed and bonded.
As far as consumer credit, auto loans, credit cards & payday loans, I am not qualified to answer
What else can I help you with?
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.
How much can payday lenders can charge up to in interest?
payday lenders can charge up to what interest
How can one find trusted residential lenders?
This is tricky because a lot of residential lenders can be predatory. A good way to weed out the predatory lender is to ask questions. Ask them what each fee means and any other questions about the application. Any lender who wants to help you can explain everything in detail without hesitation. Be sure to trust your instinct, too.
What is alternative financing?
Alternative financing is financing that has a higher interest rate and is not considered conventional or first tier. It is procured from lenders that charge fees and higher interest rates.
What is the significance of actuarial interest in determining mortgage rates?
Actuarial interest is important in determining mortgage rates because it helps lenders assess the risk associated with lending money for a mortgage. By using actuarial interest, lenders can calculate the likelihood of a borrower defaulting on their loan, which influences the interest rate offered. This helps ensure that lenders are compensated for the risk they take on, ultimately affecting the mortgage rates that borrowers are offered.
How can you avoid predatory lenders?
stay still
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.
How much can payday lenders can charge up to in interest?
payday lenders can charge up to what interest
Payday lenders can charge up to how much interest?
payday lenders can charge up to what interest
How can one find trusted residential lenders?
This is tricky because a lot of residential lenders can be predatory. A good way to weed out the predatory lender is to ask questions. Ask them what each fee means and any other questions about the application. Any lender who wants to help you can explain everything in detail without hesitation. Be sure to trust your instinct, too.
What is alternative financing?
Alternative financing is financing that has a higher interest rate and is not considered conventional or first tier. It is procured from lenders that charge fees and higher interest rates.
What is debenture interest?
Interest payable or paid to lenders on debentures.
Why do lenders charge interest?
To make money.
What causes the Libor rate to increase?
Greedy Wall Street Fat Cats & Predatory Lenders ...ie...CitiFinancial
What causes Libor rate to increase?
Greedy Wall Street Fat Cats & Predatory Lenders ...ie...CitiFinancial
What is the significance of actuarial interest in determining mortgage rates?
Actuarial interest is important in determining mortgage rates because it helps lenders assess the risk associated with lending money for a mortgage. By using actuarial interest, lenders can calculate the likelihood of a borrower defaulting on their loan, which influences the interest rate offered. This helps ensure that lenders are compensated for the risk they take on, ultimately affecting the mortgage rates that borrowers are offered.
Why despite the huge reduction in Interest rate in the US to quarter a prcent Mortgage lenders still charge home buyers an interest rate as high as six percent without passing any reduction?
Because mortgage lenders make money by charging more interest than they pay.
