predatory

Predatory lending is a practice in which a lender takes advantage of a borrower’s financial distress to impose unfair and abusive loan terms. These loans often have high interest rates, fees, and penalties, and can be difficult to repay. Predatory lenders often target low-income borrowers, minorities, and the elderly.

There are a number of ways to avoid predatory lending. One is to be aware of the signs of a predatory loan. These include:

(more…)