The key to avoiding predatory lenders is information. If you are considering a home equity loan, talk to your mortgage company or bank, first. If you feel uncomfortable about the deal, give yourself 24 hours before signing to think it over. If it still feels wrong, walk away. If you have equity in your home, you will find another lender.
Predatory lending is a form of legalized loan sharking.
Write to your representatives in Congress and in your state's legislature and let them know that you want legislation to protect yourself and the people you care about. Predatory lending is a crime, and it should be treated as one. Inc. All rights reserved.