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'Predatory credit' can be a term generally used to describe any lender that is trying to benefit from the client. Examples include receiving high, unnecessary expenses, moving borrowers right into a mortgage they could not afford, or using deception and lies to acquire customers. Vigilantly evaluate all costs and charges--your lender must offer you a 'good-faith estimate'--plus the fine print, like mortgage terms and pre-payment penalties. Be looking for any false or misleading data, or any terms which are vague and unspecific. This witty The Net Lender Allows California Residents To Get Funding Online website has several cogent cautions for how to allow for it. In the event the charges seem too large or too numerous, locate a different lender.
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