Northwest Ohio Development Agency
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Predatory Lending

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Predatory Relief

Predatory Lending is a terrible lending practice designed to take away your home equity.  There are many problems associated with predatory practices.  Here are a few:   

  • High interest/fees
  • Broken promises
  • Balloon payment
  • Loan flipping
  • Large prepayment penalties
  • Cash or other incentives
  • Income padding
  • Inflated appraisals
  • Signing over the deed
  • Unnecessary insurance

We may be able to help you get better financing terms through a program called "Restoring the Dream," in partnership with Toledo Fair Housing Center and FannieMae.  Credit problems that occurred after the predatory loan are not a disqualifier if it can be shown to be because of your loan terms.  Please call to determine if you qualify.

 

432 North Superior Street, Toledo, OH 43624 | 419-243-3734 | Equal Housing Lender