Is predatory lending a thing of the past?
New consumer safeguards proposed
By Tom Kelly, Wednesday, November 26, 2008.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 business, 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.
more...Copyright 2008 Tom Kelly
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