Avoid Predatory Lenders

In any industry, there are scumbags. In the mortgage industry, they are known as predatory lenders. Predatory lenders are trying to process as many loans as possible as fast as possible. They care not a wit for the borrower. They will put you in loans that are not in your best interest or which you cannot afford. The collapse of the subprime mortgage market we are seeing is the result. Avoid predatory lenders like the plague. Typical signs include bait and switch terms on a loan and pressuring you to sign loan documents when you have questions.