Predatory lenders use high-pressure or deceptive sales methods to convince borrowers to refinance mortgages or consolidate debt, which often lengthens the mortgage term and diminishes the borrower's home equity, contrary to the borrower's long-term financial interest.

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