Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and lo

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and lo

Post by answerhappygod »

Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and loan equity stripping. It is said that:
A. Loan flipping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden
B. Equity stripping is the practice of making loans secured by the consumer"™s home but with high, up-front fees that are financed and secured by the home
C. Loan flipping is the practice of making loans secured by the consumer"™s home but with high, up-front fees that are financed and secured by the home
D. Equity stripping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!

This question has been solved and has 1 reply.

You must be registered to view answers and replies in this topic. Registration is free.


Register Login
 
Post Reply