In recent years, ‘The American Dream’ of homeownership has become a reality for so many families in record setting numbers. Homeownership is the main path to building wealth for most Americans. Unfortunately for so many families, that dream is turning into a nightmare also in record setting numbers.

Abusive and deceptive mortgage lending practices became the norm in an unregulated and very profitable market that grew fast, and very quickly out of control. That resulted in a series of ‘bad loans’ with underwriting deficiencies that were destined to fail and send homeowners into ‘unnecessary’ foreclosures and ending that family's ability to expand their wealth.

According to HUD, the term ‘predatory lending’ is defined just as that- “granting loans without regarding the borrower’s ability to repay”. It is Equitas' position that these waves of foreclosures are ‘unnecessary’ because there are laws in place that were designed to protect families in case of predatory lending. Specially when they were steered into that situation and set up to fail from the very beginning when their lender extended credit to them without considering or confirming their ability to repay that loan beyond the teaser rate.

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