Do you think you are a victim of predatory lending?
Predatory lenders usually offer loans with excessively high interest rates, broker fees, unnecessary costs like pre-paid credit life insurance, and unaffordable repayment terms. These lenders target elderly and low-income homebuyers, minorities, women, people with less-than-perfect credit, and people who know very little about home loans and mortgages. They often approach people they know are having trouble paying their mortgage with offers to refinance or with “creative” mortgage solutions.
If you think that you are a victim of predatory lending, help is available. You can contact the Don’t Borrow Trouble Helpline for assistance by calling 877-429-5994. You may also look into filing complaints with:
Pennsylvania Department of Banking
Office of the Comptroller (if your lender is a national bank)
Pennsylvania Attorney General’s Office
Pennsylvania Human Relations Commission (if you are in a legally protected class or believe you experienced discrimination in connection with your loan)