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predatory lending: Predatory Lending: The Warning Signs
- 11/11/13 12:48 AM
Although more Americans have been able to qualify for home mortgages during the past few decades, a growing problem has arisen which primarily affects minorities such as the elderly, people of color, the economically vulnerable, and people with language disabilities.
This is the practice called predatory lending. There has been no completely accurate legal definition of what constitutes predatory lending, because there are so many ways in which people can be cheated. A consensus of the descriptions regarding this term appears to be “the unfair and deceptive practice of charging excessive or hidden fees during a residential home mortgage loan … (4 comments)
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Although more Americans have been able to qualify for home mortgages during the past few decades, a growing problem has arisen which primarily affects minorities such as the elderly, people of color, the economically vulnerable, and people with language disabilities.
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