"Knowledge is Power - Get Some!"

Open Appeal to Real Estate, Lending and Housing Professionals

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I have prepared a guide to help both consumers and professionals better understand the causes and consequences of predatory lending.  I hope by sharing a number of case studies that we can all see how people are lured into predatory lending situations and the negative impact on their lives as a result.

I believe the solution to slowing the spread of such practices is primarily two-fold: education and revised legislation with subsequent enforcement.  My personal challenge is to implement grassroots education, group by group.  I leave to others the legal and enforcement piece.  If you are in any way associated with the housing profession: as a REALTOR®, broker, lender, counselor, funder, appraiser, regulator, or others YOU NEED TO GET INVOLVED!  To do nothing will insure that the wildfire of predatory lending continues to spread.  We are at the forefront of a housing crisis, which has deep economic implications for our state.  I cannot tell you what your role is: ONLY that you have one.  Will you be part of the solution or will you wait until the crisis is full blown and wonder why “someone” didn’t do something?  All of us are being impacted directly or through our children who are first time buyers, our parents who are elderly and retired, our co-workers, and others.  It is “OUR” problem.  We should work together for “OUR” sakes.

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