![]() | |
![]() | |
![]() |
Real Estate Information |
|
![]() |
What is a Predatory Lender?
Several months ago, the 3,000-member California Association of Mortgage Brokers (CAMB) created the first real definition to describe the abusive lending practices of predatory lenders. According to the CAMB, predatory lending was described as "placing consumers in loan products with significantly worse terms and/or higher costs than loans offered to similarly qualified consumers in the region for the primary purpose of enriching the originator and with little or no regard for the costs to the consumer." Most mortgage brokers provide good service to their clients, yet there are a few who use unethical practices. Those brokers, called "predatory lenders" by the CAMB, not only over-charge consumers, but they also get paid in other hidden ways. For instance, avoid lenders who charge more than the usual three percent fees for a conventional loan or four percent fees for a government-sponsored loan. Even non-prime lenders can't justify excessive fees. Also watch for hidden loan costs, such as the Yield-Spread Premium. This term refers to a rebate that's given to brokers when they place a borrower at an interest rate higher than the rate for which they qualify. Refuse to pay yield-spread premiums and unwarranted fees, and avoid brokers who include these charges in their loans. Besides charging high points and fees, predatory lending practices may also include such things as "packing" credit insurance on to a loan, making mortgage loans to homeowners who don't have the income to repay them, and repeatedly refinancing loans. When it comes to obtaining a real estate loan, it's your responsibility to become a knowledgeable consumer, which means you'll need to keep asking questions of your lender. If you aren't able to get clear, easily understandable answers to your questions, it's possible that you may be dealing with a predatory lender. Copyright © 2005 Jeanette J. Fisher - All Rights Reserved. Jeanette Fisher, author of "Credit Help! Get the Credit You Need to Buy Real Estate," helps people buy their dream home or finance multiple investment properties. Jeanette teaches real estate investing and Design Psychology. For help with your credit or answers to your questions, visit the Real Estate Help Credit Center at http://www.recredithelp.comSubscribe to Credit Help! Tips. Send a blank email to CreditTips at reCreditHelp.com Get the credit you need to buy your dream home or multiple investment properties!
MORE RESOURCES: The dreaded Zillow ban is finally here. Here's what you can do Business Insider Zillow’s now enforcing its listings ban: 3 things to know - Real Estate News by RealEstateNews.com Zillow’s now enforcing its listings ban: 3 things to know Real Estate News by RealEstateNews.com Colorado mountain town real estate markets see surge of new listings, price drops — but is it a buyer’s market? SummitDaily.com Alexandria Real Estate: The REIT That Nobody Seems To Want (But Maybe Should) (NYSE:ARE) Seeking Alpha NEUBERGER BERMAN REAL ESTATE SECURITIES INCOME FUND ANNOUNCES DECLARATION OF REGULAR MONTHLY DISTRIBUTION PR Newswire Unlocking Japan's Dormant Real Estate Potential: Marubeni and Dai-ichi Life's Bold Venture - AInvest The Flathead’s Frozen Real Estate Market Begins to Thaw Flathead Beacon Here are businesses on the move in Marin, Solano and Sonoma counties The North Bay Business Journal 'Keep it moving': HGTV cancels TV show hosted by Georgia couple after 4 seasons Savannah Morning News Zillow readies for battle with Compass Real Estate News by RealEstateNews.com The Face of Real Estate in West Sonoma County pacificsun.com Logistics and warehousing dominate Lehigh Valley commercial real estate market Lehigh Valley Business Nuveen: Leading the way in a changing real estate market Private Equity Real Estate | PERE Texas Employees commits $483 million to real estate, private equity, infrastructure Pensions & Investments Real Estate Transactions, June 30 edition Hopkinton Independent Egypt Sherrod Shares Heartbreaking News About HGTV's 'Married to Real Estate' Country Living Magazine Seattle City Employees slates €60 million for European real estate fund Pensions & Investments Two local real-estate firms merge to form Venture Fox Realty Group The Altamont Enterprise Real Estate Transfers: June 30, 2025 The Owensboro Times Brooks Ballard International Real Estate Celebrates Transition, LGBTQ+ Owned Business of the Year Award Recognition Business Wire AXA IM names real estate heads for North America and Asia-Pacific Pensions & Investments Crow Holdings Capital: Specialty real estate surges as investors chase demographic-driven demand Private Equity Real Estate | PERE Rockpoint: Back to basics: Real estate’s next chapter will demand local insight Private Equity Real Estate | PERE LaSalle on real estate: the world’s simplest, most complicated asset class Private Equity Real Estate | PERE From lakefront real estate to iconic property ownership, Okoboji native helps lead region into the future SiouxFalls.Business Hyatt to Sell Playa’s Real Estate Portfolio Daily Lodging Report Real Estate: June 16 to June 20 Newport This Week Rosa Hawes, trailblazing Dayton real estate pioneer, civil rights advocate, dies at 94 Dayton Daily News Deadline For Paying Real Estate Taxes At Face Amount ButlerRadio.com In a gridlocked market, it’s time to take assumable loans seriously Real Estate News by RealEstateNews.com NMPERA reveals $20m additional commitment to real estate fund Private Equity Real Estate | PERE A Long, Winding Path to Selling Real Estate in the Hudson Valley The New York Times Real estate tax deadline today Butler Eagle VPIC receives recommendation to commit $50m to real estate Private Equity Real Estate | PERE Buyers and sellers win in this unique real estate market in the Valley Wet Mountain Tribune Hyatt to offload Playa real estate, remain operator HOTELS Magazine Neuberger Berman Real Estate Fund Maintains Steady Monthly Income With $0.0312 July Distribution Stock Titan Amanda Carter: Premier Hervey Bay Real Estate Agent Redefining Client Success and Community Engagement GlobeNewswire The Best Real Estate Agent in Douglas Lake: Katelyn Warren ACCESS Newswire Radio Real Estate 6/28/25 My Bellingham Now Mansion in The Ridges hits the market for $9.8 M Las Vegas Review-Journal Form 424B3 Forum Real Estate Income StreetInsider BidMax Launches 0% Commission AI-Powered Real Estate Service to Support South Florida Condo and Homeowner Associations Business Wire Real Estate City of Oakland, CA (.gov) Apple spends $517 million on Bay Area real estate in a single week San Francisco Chronicle Jewish real-estate investors look to Israel amid Mamdani victory The Jerusalem Post Chicago-based developer building community in Katy area as part of multicity effort The Business Journals Major Last-Mile Deal: Town Lane Acquires Massive 2.7M SF Industrial Portfolio in High-Growth Raleigh Market Stock Titan ENTER-TV-MARRIED-REAL-ESTATE-CANCELED-MCT timesdaily.com |
![]() |
![]() |
![]() |
RELATED ARTICLES
Refinance Rental Property - Dont Sell It You own a rental property for years, and never see the "big pay-off." Is it time to cash in on your investment, now that you've paid down the mortgage, and values are up? Maybe not. Real Estate Investing Requires Education I really believe in getting an education in real estate investing, especially before launching a real estate investing career. I have been investing in real estate for 25 years, but I still spend thousands of dollars each year to learn more about real estate investing. For Sale By Owner: The Inside Scoop On Selling Your Own Home If you're thinking about selling your home perhaps the 'for sale by owner' signs posted on neighborhood lawns have intrigued you. When you browse the newspaper listings you see ad after ad boasting 'for sale by owner' as an added incentive for buyers and you envy the owners that are confident enough to try it. I have a buyer for your property and I can sell it now! A Realtor has just talked to you and said, "I have a buyer for your property and I can sell it now; perhaps for more money than the price your current real estate agent has it listed for." Have you heard this or a version of this? Or, "I have a buyer for your property and I can sell it now; for Big Bucks (with an incredibly high figure named) perhaps for more money than that. If You Cant Afford to Retire...Move According to Warren Bland, PhD, an award-winning author and geographer at Cal State, people have a great option. It's called "equity-take" that is, the difference in cost of comparable housing between your present community and the more affordable one to which you could move. Evil Gains Entry When we open our doors to strangers, we can never be certain what malice an outsider might bring in. Police officers tell us to keep our doors locked with good reason. Victorian. Modern. Colonial. What's Your Architectural Style? You are attracted to a home for more than its number of bedrooms and square footage. Whether consciously or subconsciously, you are drawn to the individual character of a home. Master Builders Ask, Do You Know What Design/Build or Design/Construct Means? You Should These real questions are answered by me and US Master Builders after receiving them from readers of my e-book, "Residential Development Made Easy."Question 1. Be Patient Screening Tenants Rental real estate is a solid way to make money. I'm particularly fond of residential properties, because people have to live somewhere. 7 Different Ways Anyone Can Become a Real Estate Investor Being a real estate investor is not really that hard, Sometimes you do not need any money down. Other times you do not need any of your own money down. Writing on the Wall - Are REITs a Better Investment for You? When I was a young child I had many annoying tendencies. My mother explained to me that the most annoying was my need to write on the walls of every room. Real Estate Professional in the Palm of Your Hand GETTING THE MOST FOR THE LEASE-TRACKING YOUR REAL ESTATEIf you own rentals and/or investment properties, you know that you have to keep track of your portfolio, maintenance profiles, property managers, and related financial matters. There are a multitude of programs for the Palm-Pilot system to keep up with lease dates, lease expirations, and rent due dates. The Art & Science of Property Valuation -- Automated Valuation Models It is no secret that sellers want to sell high and buyers want to buy low. But they often arrive at the negotiating table with very different ideas on price. 11 Different Ways to Participate in The New Millennium Real State Boom Many parts of the country are going through a real estate boom. In recent reports real estate is showing double digit growth in many parts of the country. Home Inspection Checklist - Home Inspectors Although architectural details, wall and floor coverings, modern conveniences and many other factors are important in the buying decision, the focus of this inspection is on the structural/mechanical/electrical condition of the property.The inspection is designed to give the real estate agent or prospective purchaser a system to detect some of the readily accessible major flaws or deficiencies in the significant components and systems of a home. Where To Start In Looking For A Central Illinois Realtor Central Illinois is an excellent location for families andbusinesses. Property values and local economies are growingconstantly and the wide range of available properties isimpressive. Fixer Uppers: Dont Make This Mistake Making money with "fixer-uppers" isn't about repairing drywall or planting flowers. It's about using the right approach from the start. How To Find Your Dream Home In Belize Shopping for property in Belize is not as simple an undertaking as you might initially expect!Firstly, estate agents as we know them are non existent! Real estate brokers that do exist are likely to be unlicensed, unregulated and certainly not trained or insured.Secondly, the majority (and I mean the majority) of property for sale is not advertised!But with property prices remaining affordable, the quality of property available attractive, the climate beautiful, the people welcoming, the quality of life incredible and the opportunities in Belize plentiful, more and more people need to know HOW they can go about procuring themselves their dream home in Belize. Fixtures Fixtures, related to real estate, are items that were originally personal property but are now attached to the property itself. This becomes the toughest issue when tenants attach fixtures to a property. Real Estate Values or Just Bad Habits There are several small businesses that retain hundred year old traditions. Hand-dipped chocolates, fresh flowers and cloth napkins on every table in a restaurant, or mints and roses on a guest's pillow at a B&B. ![]() |
home | site map |
© 2006 TIGER MEDIA |