Typical Lines Used by Unscrupulous Lenders

Marina's Dictionary of Predatory Lender Lingo

Remember what Grandma said: If it sounds too good to be true, it probably is!!!
But most people can't resist a bargain.

Here are translations of some of the most commonly-heard "lines" from unscrupulous lenders:

When they say: Bad Credit? No Problem!
It means: We can make a TON of money off you... sucker!

When they say: No Hassle, Instant approval!
It means: We can rip you off immediately!

When they say: Rates are going up, so act fast!
It means: I want your commission before you change your mind.

When they say: Payments you can afford!
It means: The payments don't include all the costs - like property taxes and insurance.

When they say: I helped your friend and I can help you, too!
It means: I figured that uninformed borrowers hang out together and you are a hot lead!

When they say: Yeah, the rate is a little high, but we can get you refinanced in a year after you've made payments on this.
It means: I can make money off you next year, too!

When they say: The origination fee & points are because your credit is so bad.
It means: They're high 'cause I've suckered you into believing his is all you can get.

When they say: Don't worry about all that paperwork. Just sign here and I'll take care of the rest.
It means: Watch out! I'm about to falsify some information to get your loan through quickly. When you have a problem with the loan, you are legally responsible for what you signed, not me!

Top 3 things you will NEVER hear from a predatory lender:
3. Lowest prices guaranteed or your money back!
2. I got this very same loan for my mother.
1. After they foreclose, you can move in with me.



To the tune of "Home on the Range":

Oh give me a home
With no predatory loan
Where the kids and the grownups can play
Where never is heard
The Foreclosure word
And our assets are building each day...

Home, home in the 'hood
Where the neighbors are here to stay
Because we've all learned
It's easy to get burned
By the crooks who want our equity

Where is the justice?

A 35 year old mother of two was ambushed and shot dead in front of her children. The gunman then turned the gun on himself and in the most cowardly act, killed himself. There were two witnesses: their 10 and 12 year old daughters. See, the killer was the ex-husband of the woman. He told her to come to his house and pick up the child support check while he was at work. The mom and her girls stopped by their father's house on the way to visit grandma. He was hiding in a closet for their visit.

Now these two girls not only have lost both parents, they have the most terrifying and brutal memories that constantly replay whenever they close their eyes.

Because the killer also killed himself, the case does not go through the criminal justice system. This makes it very difficult for the girls to receive any crime victims compensation from the state. Yet they are among the most vulnerable of victims.

Their grandparents are stunned and are forced to re-enter the workforce in order to raise their two granddaughters and provide for them. Not surprisingly, their father left nothing for them. And mom worked hard everyday as a teacher; hardly an occupation that lends itself to excess cash to stash for rainy days.

Well, it's pouring on these beautiful young girls and their grandparents. We, as a community of women, mothers, wives, sisters, and brothers, husbands, fathers, and men, must let it be known that while the cracks in the system have become canyons, we can join together to support this and other similarly situated families re-build their lives. Unfortunately, this is not a rare crime in America. It happens every month.

How can we make a difference?
By sending donations to the memorial fund to help the grandparents raise the girls.
By speaking out against violence. Violence and abuse in families is even worse than "random" violence. The scars are longer and deeper.
By keeping the family in your prayers.
By serving as a mentor for youth.
By encouraging a woman you know who is in a troubled marriage to seek help.
By encouraging depressed or violent men to seek professional help.
By supporting legislation and funding that provides better assistance for crime victims, even if the perpetrator takes his own life.

Sitting here and saying to yourself, "oh, what a shame!" just won't do it.
We've got to make our voices heard.

Then, and only then, do those girls have a chance to say when they grow up: "I probably would have lost it, but my family did the best they could and so many in the community rallied around us and showed us love. We finally realized that it wasn't our fault. We have to grow up and live good lives to honor our mother, family, and community, that their love was not in vain."

Can't you imagine the alternative routes they could take based on their experiences?

What will you do to help?

let me know!

Kickin' Up the Dirt

What's dirtier than American politics these days? My car and my kitchen. Yep, Fall Ball is here. The kids are so excited and of course that means new cleats for baseball and softball (don't confuse them with soccer or football, heaven forbid!). Both kids are in the Minor League of their respective sport which brings on a new kind of competition and debate: what hurts the most -- a baseball pitch or a fastpitched softball?

My son LOVES to practice sliding, which means he brings home half the Georgia clay off the field and into my car. When the shoes come off, more dirt breaks free from his shoes, socks, shirt and hat -- most assuredly right after the floor has been cleaned. My son requested a pair of "sliders" to protect his legs when he slides. Sliders, I've come to learn, are like today's girdle with extra padding on the outer thighs. All my adult life, I'm trying to get rid of the extra padding (natural padding, I might add) and my little boy needs more of it! Another motherhood irony sent from the universe!

These ball games are great places to people watch. Some parents talk like their children are guaranteed college scholarships and first round draft choices to the Major Leagues. The competitive nature that some parents shamelessly voice (loudly, I might add) seems to be an involuntary response from their own inner-child saying "pick me! pick me! Oh, don't let me be the last one chosen for the kickball team!"

I wonder if the comments coming from the parents reflects their attitude in the bedroom --
Demanding: C'mon, hurry up already!
Encouraging: That a boy, sweetheart -- you can do it!
Whining: Why can't you get it right? I've told you 100 times how to hold it!
Coaching: You can do it... smack it hard! [after a strike}: that's okay, good swing; you'll get it next time!

And everyone is an expert -- the only visually impaired person in the ball park is the home plate umpire. People are so cruel to these often over-weight fellas covered in hot, sweat protective gear. Don't stress them out, I say. If they have a heart attack on the field, then the whole game might be called!

I'm feeling brave about losing the PC style, since probably no one will be reading this anyway. If you bust me, let me know!

Cheers!

Where are the voters?

Watching the Olympic Games in Greece, the motherland of democracy, I can't help but think... what if these Olympians did their events in the nude? Switch the channel and we must listen to all the well-scripted political sound bites intended to distract the "average American" from the real issues of today: jobs at living wages, health care, adequate housing, violence against women and children, and economic development. It seems like the extreme conservatives are chasing the lowest common denominator for votes -- what is lacking in thoughtful public policy is made up with emotional appeals, moral imposition, and demonizing all objectors. The Greeks taught us much about debates, philosophy, drama and mathematics. Rather than building on that tradition, today's political environment is comprised of name calling, corporate interests reign supreme, scandal, and more voo doo economics.

Perhaps if more people gave up their political apathy just once and went to the polls, real debate of the issues would emerge.
My grandma was very clear about voting: "When I was born, I did not have the right to vote. Women worked very hard and endured a lot of abuse to gain the right to vote for all women. You better appreciate it and vote every chance you can." I've been an active voter now for 21 years and I take my children to the polls, too. They are excited about the right to do this. Sadly, people in some countries (and Florida) are denied the right to vote or do not have free and fair elections.

I know I sound cynical. But I am also incredibly optimistic about this country. We have a resilient system of government that endures changing political tides, economic cycles, and yes, even scandal and corruption. The voter turnout across this country is pathetic. I urge those who do not believe their vote will make a difference to just try it once. Go to the polls, dangle a chad or press the electronic ticket and see how you feel -- it is an enormous gift. And if you don't make your opinion known at the polls, don't worry, others who do not have your best interests in mind will be happy to let their vote count twice!