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Avoiding Bad Loans (3)+

  • High-Cost Home Loans: Don't Be a Target

    This document warns of abusive lenders trying to sell home owners a loan with payments that are too high which could result in losing your home at a foreclosure sale or spending all of your spare cash paying off a loan you didn't need or want. Content Detail

    By:
    National Consumer Law Center
    Read this in:
    Spanish / Español
    Chinese / 中文
  • Protect Your Investment - Don't Let Predatory Lenders Take Your Home

    Senior citizens are an attractive target for unscrupulous mortgage lenders because they have a lot of equity in their homes after years of diligently paying off their mortgages, and they use that equity to finance home repairs, medical care and other needs. While these lenders may encourage seniors to use their hard-earned home equity to secure new loans - they will not tell seniors about the high fees, hidden payments or other disadvantageous loan terms that could lead to the loss of their homes. Content Detail

    By:
    National Consumer Law Center
  • What You Should Know About Refinancing

    Refinancing is a process in which you pay off one or more existing debts with a new home loan. If you have perfect credit, refinancing is sometimes a good way to obtain a lower interest rate or to convert a variable rate loan to a fixed rate. However, if you are in the midst of financial difficulties, if you have too much debt, or if you have bad credit, refinancing is loaded with pitfalls. We recommend that you be very careful when refinancing debts. Many refinancing loans hurt consumer. Here are twelve things to consider before refinancing. Content Detail

    By:
    National Consumer Law Center

Foreclosures (5)+

  • Foreclosure Rescue Scams

    This website discusses foreclosure scams that disproportionately targets older Americans. Content Detail

    By:
    National Consumer Law Center
  • Saving Your Home From Foreclosure

    Unemployment, divorce, death and abusive lending practices put many homeowners at risk of losing their home. If you are facing foreclosure, you may be tempted to give up and walk away from your home. Don?t give up! There may be an option available that allows you to keep your home or sell or transfer your home quickly before a foreclosure sale. Here are some guidelines. Content Detail

    By:
    National Consumer Law Center
  • Steps That Advocates Can Take To Help Prevent Foreclosure

    Older homeowners fall behind on their mortgages for many reasons: sudden decreases in income due to the loss of a spouse; poor financial management which contributes to nonpayment of utility bills, service shutoffs and liens against the property; failure to perform necessary repairs and maintenance which make the property uninhabitable; second mortgage scams which make impossible demands on the homeowner's limited resources. All of these contributing factors can be addressed by skilled advocates -- if homeowners turn to them in time. This issue of Consumer Concerns for Older Americans examines some of the measures that legal and non-legal advocates for the elderly can take to defend homeowners at risk of foreclosure. Content Detail

    By:
    National Consumer Law Center
  • Your Home: Money Matters From the Federal Trade Commission

    This FTC website offers videos, brochures and options for homeowners facing foreclosure. Content Detail

    By:
    Federal Trade Commission

Related Information (4)+

Personal Loans (1)+

Know Your Rights Articles (1)+

  • What You Should Know About Refinancing

    Refinancing is a process in which you pay off one or more existing debts with a new home loan. If you have perfect credit, refinancing is sometimes a good way to obtain a lower interest rate or to convert a variable rate loan to a fixed rate. However, if you are in the midst of financial difficulties, if you have too much debt, or if you have bad credit, refinancing is loaded with pitfalls. We recommend that you be very careful when refinancing debts. Many refinancing loans hurt consumer. Here are twelve things to consider before refinancing. Content Detail

    By:
    National Consumer Law Center