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predatory lending: How to Avoid Predatory Lending, Part III - 05/05/07 01:48 PM
Over the past couple of days, we’ve discussed the warning signs, as well as some common problems associated with “predatory lending”. When you’re shopping for a low-cost loan, it’s extremely important to know the right questions to ask of any lender, so that you can choose the loan that best suits your needs. Working with a REALTOR® like myself will arm you with the knowledge to protect you and your family and get you into the home of your dreams. Of course you want to find the lowest mortgage rate possible and get the best deal. However, it’s also important to … (0 comments)

predatory lending: How to Avoid Predatory Lending, Part II - 05/05/07 01:47 PM
Nearly all predatory lending occurs in the “subprime market,” where loans are sold to people with less than ideal credit histories. Subprime loans have played an important role in helping millions of consumers achieve homeownership, but, unfortunately, some lenders abuse their role and take unfair advantage of vulnerable borrowers. Here are some common problems with predatory loans: High interest rates and fees: Predatory lenders often charge extremely high interest and fees that are added into the total amount of the loan the borrower must repay. These lenders charge what they can get away with, not a fair amount based on the … (0 comments)

predatory lending: How to Avoid Predatory Lending, Part 1 - 05/05/07 01:45 PM
For most families, buying a home is the biggest and smartest purchase they ever make. Unfortunately, not all loans are in their best interests. When loans hurt instead of help, they can quickly lead to foreclosure and even bankruptcy. It’s important to learn the warning signs and common problems associated with predatory lending, and to ask the right questions when shopping for low cost loans.
The term “predatory lending” covers a wide range of abusive practices. Some may be predatory for one borrower but not for another, because everyone’s circumstances are different. Predatory lenders often take advantage of first-time homebuyers … (0 comments)

 

Melissa DelGaudio

Severna Park, MD

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CHAMPION REALTY, INC.

Office Phone: (410) 224-0600 x 623

Cell Phone: (410) 212-9316

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