Some predatory lenders urge borrowers to default on existing loans to increase the borrower's desperation and willingness to accept new loans on any terms, thereby putting the borrower at risk of foreclosure.

Authors

• Person: Not available Organization: Department of Justice
  Fair Lending Enforcement Program - Department of Justice

Sources

• Fair Lending Enforcement Program - Department of Justice www.justice.gov Department of Justice via serper

Referenced by nodes (1)

• predatory lending concept