Predatory Lending

"Predatory lending" refers to a variety of abusive lending practices that often involve deception or fraud. Predatory lending practices include making loans that are beyond the borrower's ability to pay, charging excessively high interest rates, and charging fees for home owner's insurance or loan refinancing, which are not fully disclosed to the borrower. Predatory lending schemes are often targeted at elderly, minority or female borrowers. These practices, cause the consumer to lose equity in their home and may lead to home forclosure.

The best defense for protecting yourself from these types of borrowing schemes is to educate yourself about the credit and lending industry.

Please use these web links to find out more about predatory lending and how you can avoid becoming a victim of these unscrupulous practices.