Many homeowners are currently burdened with bad loans, or in default, or suffering financial hardship due to bad home loans.
While most loan brokers maintain high ethical standards, there have been some who took advantage of the real estate bubble to profit at the borrowers’ expense. These brokers pushed loans on consumers who could not afford them, offered complex loan packages with hidden costs, or submitted incomplete and untruthful information to lenders. Whether in the form of a bad home loan, mortgage, or equity line of credit, the result was often a bad deal for the homeowner and high commissions for the loan brokers.
A few borrowers knowingly participated in these questionable practices, but many ordinary people were duped, defrauded or misled by an out-of-control loan industry. The bad loan industry was driven by large loan broker commissions, undisclosed broker rebates, and a rising market for mortgage backed securities. The result is that thousands of borrowers are now saddled with catastrophically bad loans, and are faced with ruined credit, foreclosure and crushing debt.
If you have been a victim of predatory lending or bad loan practices, call us at 1-831-429-6391. Do not delay in protecting your rights.
