What Exactly Is Predatory Lending?
Predatory financing typically refers to lending practices that impose unfair and loan that is abusive on borrowers. п»ї п»ї In numerous instances, these loans carry high costs and interest levels, strip the debtor Colorado rapid cash of equity, or destination a creditworthy debtor in a reduced credit-rated (and much more expensive) loan, all towards the advantage of the financial institution. Predatory lenders often utilize aggressive sales tactics and make the most of borrowers вЂ™ absence of economic deals. Continue Reading →