My little place re home equity loans
Some lenders target borrowers with poor credit ratings, since such borrowers have difficulty getting a home mortgage from a legitimate lender and are more likely to accept a high interest rate. Other lenders prefer to target inexperienced borrowers who are unaware that they are paying too much for their mortgage. Bad lenders often tell borrowers to handle the high interest rate by frequent "flipping," or refinancing, of the home mortgage. * Sky high fees. Legitimate mortgage fees might look staggering on paper, but they don't come to more than 1% of the amount of the mortgage.