Realtors(r) Seek to Protect Home Buyers From Predatory Lending and Educate Them on Mortgage Products
U.S. Newswire, February, 2007
To: BUSINESS EDITORS
Contact: Lucien Salvant of National Association of Realtors, 1- 202-383-1177, lsalvant@realtors.org
WASHINGTON, Feb. 7 /PRNewswire-USNewswire/ -- The National Association of Realtors(R) (NAR) today told a Senate panel that NAR supports stronger anti- predatory lending legislation and more consumer education on nontraditional mortgage products.
In testimony on "Preserving the American Dream: Predatory Lending Practices and Home Foreclosures" presented to the U.S. Senate Committee on Banking, Housing and Urban Affairs, NAR said that abusive and predatory lending practices are putting our nation's communities at risk. These practices can cause more families to lose their homes and savings through higher foreclosure rates. The vacancies that...
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