Predatory Lending

SOUTHEAST TENNESSEE LEGAL SERVICES

 

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       Predatory lending is a term that embraces a variety of nefarious practices. In describing what it means in actual experience, we will concentrate upon residential mortgage lending, particularly where it involves first mortgage loans for elderly persons who often have substantial equity in their homes but few other assets and only modest incomes.

       In these pages, we address what we believe to be the most significant features of the subprime lending industry and what are predatory practices. (Of course, just because a business is involved in subprime lending doesn't mean it has engaged in predatory practices.) We urge people facing foreclosure to seek advice from a certified housing counselor, and if that fails, we discuss how to challenge foreclosure. We then describe the complaints in the cases we have filed. We discuss the results of  cases where damages were awarded in lawsuits filed by others. Finally, we note the hidden and high cost of arbitration. 

    If you think you have a case against a company that has engaged in predatory practices, please click here -- Do You Have a Case? A Short Quiz.  

    Our work is supported, in part, by a grant from the Tennessee Bar Foundation.   It, however, is not responsible  for the content of this website or any of our activities.

  

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