How do you avoid falling victim to predatory lending and the ensuing financial problems?  Learn how to identify the signs of a predatory loan. Predatory lending can be identified by misleading marketing and sales practices, non-disclosure of all terms that relate to the qualification and payback of the loan, and falsifying documents to gain loan approvals. Predatory lending is more times than not unregulated and sometimes extends across income and racial backgrounds.

Listen to our Anti-Predatory Loans Announcements:
Visit:  http://www.miamidade.gov/hfa/library/051008%20Anti%20pred%20English.mp3

Follow these guidelines

• Do not let the promise of extra cash or lower monthly payments get in the way of your good judgment.
• Do not agree to a loan that is more than what you believe your house is worth.
• Do not sign documents you have not read or have blank spaces to be filled in after you sign.
• Do not take the first loan you are offered.
• Do not give in to high pressure sales tactics.

Resources

• Predatory Lending Hotline……………….305-655-3153
  If you or someone you know is a victim of Predatory Lending, or may be in danger of losing their home, call the Miami-Dade Anti-Predatory Lending/Foreclosure Prevention helpline at 786-331-5348.
  
  For victimized homeowners, we can help with:
• Referrals to Legal Services 
• HUD-certified foreclosure prevention counseling 
• Financial assistance for qualified predatory lending victims