“Predatory Lending” into the “Refi” Era: A Primer
The most continuously newsworthy topic regarding personal finance has surprisingly not been taxes, but rather mortgage rates or more specifically, refinancing for the past five years. Now we are nearing the end of the Real Estate Bubble, creditors are being scrutinized for their lending tactics under the misnomer “Predatory Lending” that it appears.
Top signs and symptoms of the “predatory” loan are:
Exorbitant costs: Totaling significantly more than 5% associated with the loan quantity; Resource Based Lending: Basing the mortgage quantity regarding the debtor’s assets, maybe perhaps not earnings… Read more »