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California Predatory Lending on the Rise

By Neil Shous, Esq.

California predatory lending schemes are not new. In fact, this type of fraud involving outright deception that takes advantage of unsuspecting borrowers has been around for quite some time. But as our state?s housing crisis became more and more disastrous, predatory lending scams grew, which is why they have been getting so much publicity. Because California predatory lending schemes can cause so much financial damage?to already distressed homeowners and lending institutions alike?the government is eager to invest its resources into prosecuting offenders. This is why many federal, state and local law enforcement agencies have set up task forces to deal with this type of mortgage fraud. Unfortunately, many victims of predatory lending scams do not realize that they have been illegally preyed upon...continue to full post

Full post as published by California Criminal Defense Blog on December 09, 2010 (boomark / email).