Predatory lending is the practice of giving out loans and extending credit with high interest rates, high penalties for missed payments etc. especially targeting low-income, minority or young homebuyers, homeowners borrowing against home equity, or homeowners who are deeply in debt with mortgage arrears or tax liabilities. However, predatory lending can also encompass payday loan lenders, auto loan lenders and others looking to take advantage of desperate or uninformed consumers through fraud, deception, conspiracy, misinformation and abuse.
Lending scams can be very subtle, complex and difficult to detect. If you didn’t get what you expected out of a loan or are getting assaulted with fees, you should consult with one of our attorneys.
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