What makes a home loan a predatory loan?
If you get a loan and the mortgage broker never asked for income verification, never asked for you to fill out a financial page such as expenses, other loans, etc. and you questioned him about that and said “Doesn’t matter they have investors” would you consider this predatory lending? He just asked for 2 year income tax (1year the business had a loss in profits) and a saw a good credit report. How about they sent the papers for you to sign and then had to mail them back? If this is predatory lending how do you go about taking action? Was told that they gave the loan based on good credit rating by someone in the real estate business. Only serious answers only please.