Question

A person who can afford a monthly payment of _____ and agreed to a monthly payment of _____ was most likely the victim of predatory lending

Answer 1

Predatory lending is lenders and loan processors giving out incorrect, unfair and fraudulent information and practices with those applying for a loan. When you are a victim of predatory lending, you are signing and agreeing to pay something over what you can afford and the lender is pushing you to do that even when they know you are unable to afford it.  

Answer 2

Predatory lending includes any unscrupulous actions that benefits a lender at the expense of a borrower. Emphasizing the payment is one example of predatory lending.

A person who can afford a monthly payment of 1300$ and agreed to a monthly payment of 1400$ was most likely the victim of predatory lending. Correct answer:D