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What Signs to Look For When Reviewing Your Loan Papers!

All across America, families are losing their homes and investments because of Predatory Lenders, mortgage brokers, appraisers, and so called home renovators. My research has taken me further into a boiling pot that is ready to consume our hard earned money. All they care about is their pockets and the pockets of their investors are lined, they care about the industry and not the consumer. You need to go through your loan papers, mortgage docs, and credit cards finance papers, you need to read them! You will see the signs of Predatory lending; you need to know your rights.

Examples of how they work:

Investors and Realtors sell properties for much more than they are worth using false comps and appraisals.

Mortgage Brokers encourage borrowers to lie, in order to get a loan: their income, expenses, or cash available for the down payments.

The mortgage broker and lender knowingly lend more money than a borrower can afford to repay.

The lenders charge high interest rates to borrowers based on their race or national origin and not on their credit history.

Lenders charge fees for unnecessary or nonexistent products and services.

Mortgage Brokers pressure borrowers to accept higher-risk loans such as balloon loans, interest only payments, and steep pre-payment penalties.

They target vulnerable borrowers to cash-out refinances offers when they know borrowers are in need of cash due to medical, unemployment or debt problems.

They Undress homeowners equity from their homes by persuading them to refinance again and again when there is no benefit to the borrower, it is a good thing for the broker and lender to do this because they make more money off you.

They know you are not spending money so they use high pressure sales tactics to sell home improvements and then finance them at high interest rate.

Has a lender or investor tell you that they are your only chance of getting a loan or possessing a home? Take your time to shop around and compare prices and houses and do not go with this person.

Is the house you are buying costs a lot more than other homes in the neighborhood and is not any thicker or better? You might love it but stop and think!

Have You been asked to sign a sales contract or loan documents that are blank or that contain information which is not true? If you have call a lawyer if you have not yet DO NOT SIGN!

Did they tell you that the Federal Housing Administration insurance protects you against property defects or loan fraud? Do Not believe a word said, call your lawyer!

Were the cost or loan terms at closing not what you agreed to? Call your lawyer!

Were you are told that refinancing can solve your credit or money problems? I hope you are smarter than that! It just prolongs them!

Were you are told that you can only get a good deal on a home improvement if you finance with a particular lender? Do Not believe it look at the truth if they can some other mortgage company can!

Something a little interesting if you already did not know, the word Mortgage was derived from Two Latin words! And you can look at it this way, Death measure or Death Glove.


adj. dead, extinct, gone (f) n. death; casualty; dying, quietus, passing; fate, doom


v. give as security (i.e. money, something of value) n. standard of measure; device for measuring n. challenge to fight; symbol of a challenge to fight (often a glove); pledge, security

If you are in this situation, you need to review your mortgage loan papers. Recall this is for people that have refinanced their homes in the last Three years; there is a statue of limitation regarding this. If you feel you have been involved with Predatory lending, call a qualified lawyer that has practiced real estate law and is practising now. You can end up with money in your pocket and most likely be able to stay in your home! Do a Google search regarding TILA violations and Predatory Lending, read the articles, become familiar with them! Skill will help you through this time of need. So if you are in foreclosure or a few payments behind embark looking at your loan documents and be brainy!

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