what is your take on predatory lenders are they hurting the real estate market or not?

Real Estate Agent with RE/MAX SOLUTIONS 9695882
I think they are hurting the real estate market, they have created a mess in all the markets and many states are now facing a lot of foreclosures as a result of lending to clients who has no good credit and also could not afford the homes with such high interest rates and if they can't pay they turn around and take the home back from those clients in leu of foreclosure.It is a ripp off.

Comments (1)

David Petrovich
S.P.O.C.H. a 501c3 Charitable NP - Oakhurst, NJ
I agree all predatory practices which include lending (but also deed stealing, equity theft, etc.) are giving the industry a black eye. There are differences, however, between subprime lending and predatory lending.
Apr 03, 2007 12:00 AM