All Posts Tagged With: "predatory"
Why Aren’t Predatory Loans Illegal?
“Nationally and internationally, we must be on guard against predatory lending. It is nothing more than a scam, a crime, a lie.” Alphonso Jackson It’s doubtful that anyone who has ever looked at the mortgage industry would disagree with the sentiments offered by former HUD Secretary Jackson. Predatory loans are terrible, a scam and certainly [...]
4Oct2008 | Peter G. Miller | 1 comment | Continued
Here’s A Fact: Predatory Lending Is Not A Crime
Speaking before big-shot investors on Wall Street last week, assistant Treasury secretary Anthony Ryan said the marketplace needs to be protected against financial predators. “While predation is the law of the jungle in nature, as civilized society, we need to have laws in place to protect investors and consumers,” Ryan told the Securities Industry and [...]
20Sep2008 | Peter G. Miller | 0 comments | Continued
Why Is Illegal Flipping A White-Collar Crime?
Hardly a week passes without more revelations of illegal flipping. Typical of what you see has been the recent situation in Cincinnati where more than three dozen people have been convicted in a $50 million illegal flipping scam. Timothy Husvar, according to the Cincinnati Enquirer, was involved in illegal flipping worth $2.3 million over a [...]
15Sep2008 | Peter G. Miller | 0 comments | Continued
What To Do About Predatory Loans
Predatory loans are the new horror of mortgage lending, a subject getting much attention in the media and with good reason. In general terms predatory loans can be seen as financing which the borrower does not understand, cannot repay, or includes terms so onerous even loan sharks would be embarrassed. Such loans harm consumers, generate [...]
6Sep2008 | Peter G. Miller | 0 comments | Continued
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