08 7 月 Victims of Predatory Lending
Although predatory loans make a difference anyone, some categories of individuals are specially most likely goals for predatory lenders. They consist of:
- Subprime Borrowers. Subprime borrowers are the ones with dismal credit scores – typically lower than 630 – and low incomes. As noted above, predatory loan providers often deliberately follow these borrowers to allow them to charge them greater interest.
- Low-Income Families.