Consolidating credit card debt into home loan

While the practices of predatory lenders may not always be illegal, they can leave victims with ruined credit, burdened with unmanageable debt, or homeless.Predatory lending can also take the form of payday loans, car loans, tax refund anticipation loans or any type of consumer debt.Comparison shop and research how to find the best mortgage rates.Do not sign any documents that contain blank spaces.Following is a list of some of the things to watch out for: Beware of loan offers through the mail, via telephone or door-to-door solicitations.

A borrower who tries to refinance a home loan with one that offers better terms can be assessed an abusive prepayment penalty for paying off the original loan early.Get a copy of your credit report, and have some idea of what you should qualify for.Do not let yourself be rushed into the loan process.These lenders also target borrowers with credit problems or people who recently lost their jobs.This could disqualify them from conventional loans or lines of credit, even though they have substantial equity in their homes.

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