predatory mortgage lending

Predatory mortgage lending refers to unfair and deceptive practices by lenders targeting vulnerable borrowers. These practices include offering loans with extremely high interest rates, hidden fees, and unfavorable terms that can lead to financial hardship. Often, predatory lenders exploit borrowers' lack of knowledge about mortgage options, pushing them into loans they cannot afford. This may result in foreclosure or long-term debt. It’s crucial for borrowers to thoroughly understand loan terms and seek advice before signing mortgage agreements to avoid falling victim to such predatory practices.