You've heard the stories..... Loan terms change at the last minute. You only find out at the closing table. Did you know that you can get up and walk away from the table?!?!?! YES, you can!!!
Signs of Predatory Lending:
~ Pressured into borrowing more than you want.... consolidating bills unnecessarily.
~ Getting technically confusing answers to your questions.
~ Did your lender offer you more than one option?!?!
~ Do you get an uneasy feeling when the lender explains the rates and fees?
~ Being pressured into a 'special' loan program before the opportunity goes away.
Remember, you have options..... MANY options. Get a competitive quote. Don't stop asking questions until you FULLY understand the answers. And never sign a document that wasn't filled out completely.
Above are some signs that you may be falling victim to a Predatory Lender. Go with your gut feeling and scramble out of there if you are uncomfortable. Not only do you have options... but you also have resources. If you don't fully understand some forms or ates andd fees.... seek help. Ask your CPA, Accountant, Realtor, Friend/Co-worker. But don't get suckered into a loan that you do not fully understand.
Learn more about Predatory Lending here => http://www.dontborrowtrouble.com/
You are quite possibly making decisions about the single most important investment you will make in your lifetime. Buyer Beware!!!!
Tom Burris
DallasLoanGuy.com
Dallas, TX
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