Although laws are being tightened all the time -- in some
states more than others -- the practice of predatory lending
is still flourishing.
There seems to be no official definition of the term and that,
in many cases, the process may actually operate inside the law
-- it may be unjust and unfair but it's not always illegal.
Frequently, predatory lending occurs in the housing market,
charging high-interest rates and fees; we've discussed this
problem previously in a Scambusters issue as part of a broader
review of mortgage scams. New Mortgage Scams Sweep Away Homes And Dreams.
Click here to read the full article.
©Copyright Audri and Jim Lanford. All rights reserved.
Reprinted with permission.
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