Help Your Clients Understand How To Avoid Predatory Lending
Your clients (and future clients) will be better equipped to avoid predatory loans if you give them the latest brochure in the series "Shopping for a Mortgage? Do Your Homework First."
For most families, buying a home is the biggest and smartest purchase they will ever make. Finding an affordable home loan with fair terms and reasonable costs is one of the most important steps when buying a home. Unfortunately, predatory lenders take advantage of homebuyers who may end up with loans that cause undue financial hardship. These loans can quickly lead to foreclosure and even bankruptcy.
Produced jointly by NAR and the Center for Responsible Lending, this 5-panel brochure allows REALTORS® to help consumers learn the warning signs of predatory loans and how to shop for a mortgage that is fair and affordable.