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Pornwolf · 11-25-2007, 10:33 PM

It's already been proven it's true unfortunately. Some suits are frivolous, this one isn't.

I have seen some as high as 28% when a fair rate is supposed to be between 6-8%.

Predatory lending is a problem and it has to be stopped across the board. Unfortunately the brokers that tend to setup these kinds of loans target blacks and the banks that handle them generally suck them in and do as many deals possible then sell off the debt in various ways so they can get out of harm's way scott free when all hell breaks loose (as it's doing now).

It's nice to see the NAACP is actually targeting a real problem for their people for a change.

11-25-2007, 10:33 PM
Pornwolf Drunk and Unruly Join Date: Jan 2002 Location: Hollywood Posts: 22,712	It's already been proven it's true unfortunately. Some suits are frivolous, this one isn't. I have seen some as high as 28% when a fair rate is supposed to be between 6-8%. Predatory lending is a problem and it has to be stopped across the board. Unfortunately the brokers that tend to setup these kinds of loans target blacks and the banks that handle them generally suck them in and do as many deals possible then sell off the debt in various ways so they can get out of harm's way scott free when all hell breaks loose (as it's doing now). It's nice to see the NAACP is actually targeting a real problem for their people for a change. __________________ I've trusted my sites to them for over a decade... Webair, bitches.