Q&A: What makes a home loan a predatory loan?

Posted by | Posted in Buy My Home Fast - Questions & Answers | Posted on 30-05-2011-05-2008

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Question by MKD: What makes a home loan a predatory loan?
If you get a loan and the mortgage broker never asked for income verification, never asked for you to fill out a financial page such as expenses, other loans, etc. and you questioned him about that and said “Doesn’t matter they have investors” would you consider this predatory lending? He just asked for 2 year income tax (1year the business had a loss in profits) and a saw a good credit report. How about they sent the papers for you to sign and then had to mail them back? If this is predatory lending how do you go about taking action? Was told that they gave the loan based on good credit rating by someone in the real estate business. Only serious answers only please.

Best answer:

Answer by Steve D
The method of making the loan (signature, tax form verification of income, etc.) does not make the loan predatory. What makes the loan predatory is charging an unfair or injurious interest rate = especially to someone with no where else to turn. If you have good credit and your interest rate is say under 6%, there is nothing predatory about the loan you describe. If you are the borrower, the only person that could complain (assuming you get near a market interest rate) is the lender, who could accuse the broker of falsifying the loan records to get the approval.

As far as I can tell, if you are the borrower, no one twisted your arm nor were you given unfair terms or put under any duress during the process.

Add your own answer in the comments!

Uk Property Bank Llp Makes It Easy To Sell House Fast

Posted by | Posted in Buy My Home Fast - Articles | Posted on 21-12-2010-05-2008

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Uk Property Bank Llp Makes It Easy To Sell House Fast

Uk Property Bank Llp Makes It Easy To Sell House Fast


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Home Page > Finance > Real Estate > Uk Property Bank Llp Makes It Easy To Sell House Fast

Uk Property Bank Llp Makes It Easy To Sell House Fast

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Posted: Mar 11, 2010 |Comments: 0
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Are you in search of some good new homes and is there any problem of budget? Than the sell property fast and the sell house fast are the finest and the best schemes in the market. You might be thinking what are these schemes based on? These schemes are an open sale where you can sell house fast or sell property fast and can get benefits from them. Here you will get immediate money which you can invest in getting your new homes. Its an easy scheme, here you will get less money for your home then the market price because its an immediate money. It will be just 2-3% less then the market price.

This scheme is the best if you are in need of instant money to purchase your new house. I had also sold my house by this scheme only. My house was located in Essex but it was in the interior area, so it was difficult for my kids to go to school. Thus I thought of buying a new house but at the same time money was the problem. My old house in which I was staying was not getting sold and I wanted to get a new home. After some days I got to know about this scheme and I immediately went for it.

All my problems were solved with this new scheme. I bought a new house in Essex and it was near to the school of my kids, near to the market and also near to my husband’s office. This is what I had done and I am presently happy on my decision. At times you need immediate money and you don’t have any resources then these two schemes are by far the best deals in the market.

We are not in loss in these schemes and our problems also get resolved here, thus if you have some similar problem then you can also switch over to these schemes and can sell your old house. Have also suggested the same thing to many of my friends and they were also impressed by my idea. So you also just sell property fast and fulfil your dreams.

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Marksteve is a property investor and he has implemented these two schemes of Sell Property Fast and Sell House Fast and he was really impressed as he got the immediate money from his house.

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sell property fast, sell house fast, quick sale, buy my house, quick house sale

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Marksteve is a property investor and he has implemented these two schemes of Sell Property Fast and Sell House Fast and he was really impressed as he got the immediate money from his house.

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Real Estate Agent Accessory Pack by Day-Timers Makes Success Simple!

Posted by | Posted in Buy My Home Fast - Books | Posted on 28-07-2010-05-2008

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Real Estate Agent Accessory Pack by Day-Timers Makes Success Simple!

  • 8 pre-printed reference tabs to organize and separate your forms
  • 32 add-in sheets each for Active Listings, Prospective Sellers, Prospective Buyers, Property Feedback and Sales Progress
  • 16 add-in sheets each for Closing Checklists, Closed Sales, and Expense/Mileage Forms

Real Estate Agent Accessory Pack by Day-Timers Makes Success Simple! As a real estate agent, you probably couldn’t live without your planner! Juggling new listings, showings, closings, prospects — it can all get pretty hectic! Our new Real Estate Ag

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Price: $ 17.99

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Posted by | Posted in Buy My Home Fast - News | Posted on 10-06-2010-05-2008

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Hotchin makes reported .7 million profit on Parnell house sale
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