Predatory Lending

October 13, 2009 by  
Filed under Blog, Predatory Lending

Predatory lending has put banks in a terrible situation.  Many banks are currently under the thumb of several lawsuits for predatory lending practices.  Banks would give loans to people who never qualified for them.   This unethcial practice has finally caught up to them, and homeowners are now taking these banks to court.   We are beginning to see banks settle for millions of dollars.  Some of the big players include Wells Fargo, Countrywide Financial, Citigroup, etc…

Predatory lending has been the downfall of our economy, we need to see a recovery, and this just might be with the utilization of short sales.

Housing Assist Coldwellbanker