How to Identify Predatory Lenders
Lending practices that strip equity away from a homeowner or place
a consumer in financial hardship are considered abusive and predatory.
You can avoid becoming a victim by learning how to identify the
many types of abusive lending practices, scams or other questionable
business practices that predatory lenders use.
Warning Signs
 Click
the warning sign image to view the facts about what to watch for
signs of predatory lending.
Demonstration: Predatory Lending Video
Take some time now to watch a short video showing how predatory
lenders target homeowners.
Directions
- Click the Predatory
Lending video link. A window will open
for you to view the video.
Note: You will need Windows Media Player software
to view the video. Click Download
Player to locate and install this player
software. If your computer does not have sound, click
Transcript
to read the video dialog.
- Identify the actions that indicate predatory lending.
- Click the close box to return to the course.
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Internet Field Trip
Take a brief online field trip to learn more warning signs
of predatory lending and how to help stop this type of abuse.
Follow the directions below.
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Directions
- Click the Stop
Mortgage Fraud link. A window will open
to the STOP MORTGAGE FRAUD Web site of the Mortgage
Bankers Association.
- Click the Warning Signs of Abusive Lending
button.
- Read the 10 Signs of Predatory Lending listed in
this section.
- Then, click Report Abusive Lending.
- Enter your zip code at the bottom of the page. This
will show you the agency that you can contact to file
an abusive lending complaint.
- Click the Close box to return to the course.
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Consider your own past experiences. Have you or someone you know
experienced any of these warning signs of abusive lending? You can
help yourself and others now that you've learned ways to avoid predatory
lending. The more knowledgable you are, the less likely you will
become a victim.
In the next section, you will learn how to identify and avoid the
most common types of fraud.
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