Beware the Predatory Lender
I started talking about
predatory lending and improper home buying
practices over 12 years ago. Needless
to say, I was not popular with the
unscrupulous loan officers, and even new
loan officers who hadn't yet learned how the
system worked. I received a lot of
hate mail and even anonymous threats from
mortgage 'professionals' who didn't want
their secrets revealed.
Predatory lenders are everywhere, and the process of financing or refinancing a home is complicated. Most lenders are not going to teach you the tricks of the trade. What they will do is overwhelm you with information about all the different types of loan programs and all the steps involved with getting approved for a loan. You never really know if you have a level playing field!
We spend a lot of time educating our buyers before we every really talk seriously about buying. The following pages are going to 'give it to you in a nutshell'. Education is vital if we are going to eliminate predatory lending practices. Let's get started.
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