Predatory Lending and it's negative effects
from The SLOE Wealth Podcast Hosted by Kendra & Remone
Predatory lending has and continues to be detrimental to lower income neighborhoods. With aggressive tactics these lenders will prey on those whom mostly have low income, credit scores and no assets. By giving them unfair and abusive loan terms that will keep them in financial trouble with no intention of the borrower paying off the debt. These practices have been ongoing for decades and the evidence is still present in many cities with predominantly black and brown people. With the insurgence of redlining giving birth to gentrification, predatory lending has become the norm as it stunts the growth of wealth in these communities. Lets talk about it and how we can help change it.
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