Don't risk your home. Watch out for predatory lending.
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predatory lending? how can you tell?
example of predatory mortgage contract
what is predatory lending?
how big is the problem here?
responsible lending principles
why is predatory lending a fair housing issue?
how can we stop predatory lending?
what is a mortgage broker?
what questions should I ask a loan officer or mortgage broker?
what can you do about predatory lending?

 

What can you do about predatory lending?

  • Don't sign anything you don't understand.
  • Don't agree to payment terms you can't afford or are unsure about.
  • Don't let anyone pressure you into signing anything.
  • Keep careful records of everything you've paid. Challenge any charge you think is wrong.
  • Check references when contractors offering financing come to do work on your home-some predatory lenders offer loans connected to home improvements.
  • Read everything carefully. Talk to someone you trust, who isn't going to make any money from the deal, if you need something explained. If you don't know anyone who can help, you can call the HomeOwnership Center of Greater Dayton at 937-853-1600.
  • Don't deed your property to anyone. Consult someone you trust about the situation.
  • Shop around! There are many lenders available and statistics show that many victims of predatory lending practices would have qualified for better loans.
  • Be sure to borrow only what you need. If you aren't sure how much you need, consult someone you trust for advice.

If you feel you are a victim of predatory lending and live in Montgomery County, OH, you should call the Predatory Lending Solutions hotline at 937-222-9671