PREDATORY LENDING

Predatory lending, defined broadly, refers to the deceptive practices employed by lenders and mortgage brokers to take advantage of consumers who are in need of credit. The Beacon Journal reports that Ohio leads the nation in the percentage of mortgage loans that end up in foreclosure. (http://www.ohio.com/mld/ohio/news/state/16433927.htm?source=rss&channel=ohio_state).

In some instances, foreclosure is a direct result of predatory lending practices. Predatory lending can take many shapes and forms but is most commonly marked by the creation of a loan scheme that puts the consumer in a worse position then she was in before the loan was created. This often occurs through a series of lies so that the consumer does not realize its happening. Our firm will review your mortgage or loan problem to determine whether predatory lending was the cause.