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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 111660
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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I have a friend that was a victim of predatory lending. She,

Customer Question

Hello,
I have a friend that was a victim of predatory lending. She, I think, is too embarrassed to do anything about it. I am contacting you to see if, in fact, there is something that can be done. From what she has told me, half of her pay per month goes to her mortgage. On top of that, the bank sold her a home improvement loan. At the time, she was going through a divorce and was scrambling to find a home for her and her three children. This happened approximately ten years ago.
Thank you for your help!
Submitted: 11 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 11 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
She should not be embarrassed, she should understand that these unscrupulous lenders prey on innocent people like herself and she is a victim not someone who needs to be ashamed.
Her first step is filing a complaint with the state Attorney General's consumer protection unit, since they investigate predatory lending claims. The next step, if the AG cannot resolve the issue, is she would need a local consumer protection attorney and she would need to have the consumer protection attorney perform a forensic loan audit and then pursue the lender through a civil court action. She could get a local consumer protection law attorney at the same sites used by other attorneys, http://www.hg.org or http://www.lexmundi.com

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