What are the 5 most common Signs of Predatory Lending in Phoenix? When shopping for mortgage companies for a home loan, it can be challenging to find a lender that prioritizes your best interests. The situation can get more complicated when predatory lenders trap you into less-than-ideal financial circumstances with deceptive tactics. To avoid getting victimized by a predatory lender, watch for these 5 common signs and tactics that they often use: Abnormally inflated or higher than standard interest rates – predatory lenders will take advantage of borrowers who are in less-than-ideal financial situations by charging higher interest rates. Blank spaces – leaving blank spaces on documents enables predatory lenders to add new information. A good rule of thumb to follow is “If it wasn’t discussed, then you shouldn’t sign it.” Loan flipping – predatory lenders will often flip your loan rate so that you don’t save any money when refinancing your mortgage (one of the main reasons you decided to refinance in the first place). No credit checks – while this may sound appealing, reputable credible lenders always ask for your credit history, credit score, and debt. Rushing through the contract – mortgage lenders who have your best interests in mind will literally hold your hand throughout the contract process so that you understand all conditions and terms. https://www.google.com/maps?cid=6744959272592205627