 |
Predatory Lending InformationFlorida Fair Lending Act
New changes in Florida have been enacted to crack down on predatory lenders. These lenders target those who can least afford to lose money, and they are consumers who are already in dire financial straits. Predatory lenders offer easy access to money. Unfortunately they incorporate high-pressure sales tactics, set inflated interest rates, charge outrageous fees, demand unaffordable repayment terms, and invoke harassing collection tactics to achieve their goals. Homeowners can be tricked into taking out a loan that they cannot afford to repay and, therefore, risk losing their home to foreclosure. |
