Mortgage calculator, a primer
A third sign of a predatory loan is high pressure tactics. Lenders are eager, even hungry, for new business (one expert calls these loans "loans seeking consumers"), and they are aggressive in seeking you out and convincing you to sign. Unlike legitimate lenders, they solicit door to door or by telemarketing as well as by mail. What do the terms of predatory loans look like? Mortgage loans offered by predatory lenders have a wide range of unethical fees attached, as well as having high interest rates. An example of some of these unethical fees are: • Prepayment penalties.