Breaking into homes. Literally taking the houses up from under paying homeowners and selling them under fraudulent claims as foreclosures. Calling people in the same state with similar last names to inform them of YOUR financial status with them…umm isn’t that a violation of the Privacy Act that they have sworn to uphold on our behalf.
Banks, big businesses, credit card companies and other lenders are going to great lengths to get monies that folks just don’t have. To continually add more and more money on top of money owed makes no sense because the person obviously can’t afford to pay the absolute minimum payments with salaries that are a speck of a fraction of the salaries they were making before the tremendous down turn.
The excessive interest rates, the hidden fees and taxes with stupid arbitrary names that actually if accurately counted-has already paid for the house- are all tactics to keep the lendee in need of the lenders services. The proverbial elephant sitting on the shoulders and back of consumers (who could theoretically help invigorate the economy), have left many consumers even worse off than they had already been. Predatory lending is not a fairy tale. It is a real like blood sucking monster that causes crippling fiancial seizures with no hope for immediate recovery.