Credit Secrets & Tips Blog

Predatory lenders do not have horns and tails.  They seems like nice, friendly, helpful people.  They are trained to gain your trust. So how will you know one?

1.  None of your questions get answered, or the answers don’t really make sense.  A good lender can explain your loan in everyday language. 

2.  The lender pressures you to sign things before you’re ready or rush you through the paperwork.  A good lender won’t pressure you. 

3. The ledner doesn’t explain or tell you about all the costs for getting a loan. A good lender will explani the costs and the service you’re geting. 

4. Things change at the closing. You’re not getting the loan your were promised.  A good lender will honor their commitments. 

5. The ledner wants you to borrow more money than you need.  A good lender will let you decide how much money you borrow. 

6. The lender makes you feel like you don’t ave other choices, as if other lenders won’t give a loan.A good lender will let you know you have other options. 

7. The lender gives you a quick yes, but it may not be the best loan for you.  A good lender will take time to explore your options with you. 

8  You have a feeling somethings just not right.  Follow your instincts.  A good ledner makes you feel informed and confident.

Don’t let a predatory lener pressure you into a costly loan. The best advice is walking away from those lenders.   If you have questions about your loan, visit www.dontborrowtrouble.com for free advice.