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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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August 31, 2000

Beware the predatory lenders

By TOM KELLY
The Real Estate Advisor

Predators have come to the party wearing a variety of hats, yet their intent clearly is common. Webster's gives the definition of "predatory" as "relating to, or practicing plunder, pillage or rapine... showing a disposition to injure or exploit others for one's own gain..."

 In the home mortgage game, predators historically have jockeyed to the most vulnerable rung of the housing ladder, seeking to "dine and dash" with the least suspecting group of borrowers having to pay the bill. Now, it seems that more and more borrowers are being hit with loan presentations that seem too good to be true.


 
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