Resources for Consumers
By Topic: Mortgage | Payday Loans | Overdraft | Credit Cards |
Auto Financing | Other Consumer Loans | Debt Settlement | Get Help
Predatory lending costs Americans billions of dollars annually, through abusive subprime mortgage loans, payday loans, tax refund loans, and other lending scams. The Center for Responsible Lending advocates fair lending through equitable treatment of all borrowers.
Stop Foreclosure: Documents Your Lender Needs to Help You
A video produced by Freddie Mac to help distressed homeowners prepare for a loan modification.Whether you are looking to buy your first home or are facing foreclosure, the following links will provide you with some tips and ways to reach out for help.
Before you take out that loan, learn the basics with our Mortgage Lending Factsheet and the Federal Reserve's 5 Tips for Shopping for a Mortgage.
You can learn how to spot a bad mortgage with our Eight Signs of Predatory Mortgage Lending. To see resources from the federal government, check out HUD's Guide to Avoiding Foreclosure, and the FDIC's Foreclosure Prevention Tool Kit.
Other sources for more information include:
- For a wealth of information on predatory mortgage lending, visit Americans for Fairness in Lending.
- Learn the basics of avoiding foreclosure in this brochure offered by the National Association of Realtors, NeighborWorks and the Center for Responsible Lending.
- As foreclosures pile up, fake rescue programs have been on the rise, too. Find out from the Federal Trade Commission and the Federal Reserve how to avoid foreclosure scams that only make things worse: Foreclosure Rescue Scams: Another Potential Stress for Homeowners in Distress and 5 Tips for Avoiding Foreclosure Scams.
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North Carolina homeowners: Visit fightNCforeclosure.org for the state's hotline and best resources to help you prevent foreclosure. |
Foreclosure Assistance
- The federal government has established programs to help struggling homeowners. To find out more, visit the Making Home Affordable site, www.MakingHomeAffordable.gov.
- Worried about a foreclosure? Go to http://www.995hope.org/ to find help.
- If you are facing foreclosure, there are resources available at http://www.housinghelpnow.org/
- The Prince George's Community Foundation has published an excellent guide for local residents who are at risk of foreclosure, including information that may be helpful to homeowners nationwide.
Housing Counselors
- Find foreclosure counseling.
- Find a HUD-certified housing counselor in your state.
Home Equity Line of Credit
- Have you had a sudden change in your home equity line of credit? Lenders must give you notice within 3 days after making home equity credit less available to you. Go here for the Federal Reserve's 5 Tips for Dealing with a Home Equity Line Freeze or Reduction.
Payday loans trap millions of hard-working Americans every year, the following links will provide you with ways to avoid their debt trap and some other alternatives.
- Thinking about a payday loan? Learn the Payday Loan Basics
- What makes payday loans so dangerous? Get the Nine Signs of Predatory Payday Loans
- Find out with the real cost of payday loans with this Payday Loan Calculator
- If you still need a short-term loan, learn the Alternatives to Payday Loans
For many unsuspecting consumers, a simple candy bar can end up costing them more than $36. The following is a list of tips that can help you stay away from overdraft fees.
- Before you use your debit card and write that check learn How to Avoid Overdraft Fees
- The FTC has published some tips to Protect Yourself from Overdraft and Bank Fees
Credit cards have become the financial lifeline for many struggling families. The following is a list of tips and tools that can help you avoid being caught deeper debt.
- Learn what credit card practices to avoid with our Tips for Credit Card Users
- Learn the basics of credit card usage with: Credit Cards: What You Need To Know
- Get the real cost of credit cards with the Credit Card Repayment Calculator
Before heading out to the car dealership, check out these quick tips and don't forget to use our Auto Dealer Markup Calculator to look out for out any possible dealer "kickbacks."
- Consumer Reports 2009 Annual Auto Issue
- Buying Tips: Confessions of a Car Salesman
- Suckers Wanted: How Car Dealers and Other Businesses are Taking Away Your Right to Sue
- Auto Finance Tips: What to Do if You Can’t Make Your Car Payment
There are many other predatory loans that can threaten the wealth of hard-working families. The following is a list of tips and tools on how to avoid those predatory traps and where to reach out for help.
- Thinking about taking out a car title loan? Learn the Alternatives to Car Title Loans
- If you considering a tax refund loan, learn why you should Avoid Refund Anticipation Loans
Watch out for companies that promise to get you out of debt but do nothing except take your money. Before trusting a debt settlement company, be sure to ask for references and check out their background with your state attorney general's office and the Better Business Bureau. Remember: no one can guarantee to eliminate your debt, so be wary of claims that sound too good to be true.
- Promises to make debt go away are not good enough
- The National Foundation for Credit Counseling has assembled a collection of video and other resources on debt settlement
Legal Assistance
- Attorney generals are often the main legal representative of consumers in each state: Find your attorney general.
- If you are looking for a private attorney, the National Association of Consumer Advocates can help you find the right one.
- Looking for a public attorney? Look here for Legal Services
Credit Counselors
- Consumer credit counselors in your state
http://www.debtadvice.org
http://www.nfcc.org/
