June 2nd, 2007 8:45 PM by Sabrina Simpson
The State of California is working hard to protect borrowers from illegal and improper lending practices while still making sure that people get the credit they need to live the American Dream. Prospective homebuyers and other borrowers need to do their part by being careful about the lenders they select. Educating yourself about the techniques that dishonest lenders use will help you avoid becoming a victim of predatory lending.
The term “predatory lending” is used to describe a variety of deceitful, fraudulent or unfair credit practices, including:
Unscrupulous lenders who use these tactics often target vulnerable populations such as low-income borrowers and seniors.
PROTECT YOURSELF FROM PREDATORY LENDING PRACTICES
Before You Sign on the Dotted Line