A Message from Consumer Action

Consumer Action's MoneyWi$e educational materials have moved to our Managing Money Project website. Here you may view, download and order bulk copies of the MoneyWi$e materials. Please make a note of the Managing Money Project address— www.managing-money.org —and add it to your address book.


Predatory lending targeting veterans affects thousands of home buyers

Source: Ken Harney, Washington Post (Paid Registration)

According to officials, some lenders active in the Department of Veterans Affairs (VA) home-mortgage program have been inducing borrowers to refinance their loans frequently to generate fat fees for the lenders themselves, rather than benefiting veterans with lower costs or better loan terms.

But it gets worse: Abuses in the VA mortgage-lending arena have spilled over onto borrowers in the much larger Federal Housing Administration (FHA) market, which primarily serves first-time home purchasers and others who lack significant cash for a down payment.

Read Full Article: Predatory lending targeting veterans affects thousands of home buyers

 
 
 

Quick Menu

Support Consumer Action

Support Consumer

Join Our Email List

Optional Member Code
Facebook FTwitter T

MoneyWise Modules

Managing Money Topics

Help Desk

Advocacy