Predatory Lending
We have seen an increase in the number of calls for assistance in foreclosure cases over the last few years. Both in the residential arena and in farming operations, many property owners are facing legal battles with creditors. Particularly in lending for the purchase of mobile homes, there are often questionable lending practices that violate consumer protection standards. Additionally, homeowners are also discovering environmental harms, arising from the siting of manufactured homes on closed and/or unregulated landfills.
The Fair Lending & Home Defense Project
The Land Loss Prevention Project, in collaboration with other legal aid organizations, has initiated an intensive foreclosure prevention project. While we have always provided assistance to rural individuals and family farmers, this project has increased its capacity to provide assistance to other victims of predatory lending scams. Since 2004, we have helped our clients write off millions of dollars through reamortization, bankruptcy, foreclosure defense, or negotiation.LLPP intends to provide legal representation and research to enforce and clarify the legal underpinnings of anti-predatory lending, fair housing, truth-in-lending, tenants rights and other anti-discrimination laws. It is anticipated that legal advocacy activities will help clarify and define the rules, patterns, and practices associated with the current manufactured housing landscape in North Carolina. These activities will also help provoke system-changing reform within commercial lending entities.
Additional resources on predatory lending:
- Center for Responsible Lending
- Financial Protection Law Center
- NC Justice Center
- The Center for Responsible Lending
