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NeX [460]
2 years ago
11

In order to protect yourself and your clients from predatory lenders, you'll want to ________.

Social Studies
1 answer:
Sergio039 [100]2 years ago
4 0

In order to protect yourself and your clients from predatory lenders, you'll want to encourage borrowers to lie about their income, expenses, or cash available for down payments in order to get a loan.

<h3><u>Who are predatory lenders?</u></h3>
  • Predatory lending refers to the practice of imposing unjust, dishonest, or abusive loan terms on borrowers. For the benefit of the lender, these loans frequently include exorbitant fees and interest rates, deplete the borrower's equity, or place a creditworthy borrower in a loan with a poorer credit rating (and greater cost). A common tactic used by predatory lenders is to use pressure to close the sale while taking advantage of the borrowers' lack of understanding of how money works.
  • By engaging in dishonest or misleading behavior and a lack of transparency, predatory lenders entice, support, and assist a borrower in taking out a loan they will not be able to repay. lend money with the knowledge that the borrower cannot afford to pay it back. Charge excessive interest rates to borrowers based on their ethnicity or country of origin rather than their credit

Know more about predatory lenders with the help of the given link:

brainly.com/question/26252896

#SPJ4

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