Brief: Predatory Mortgage Lending: Protecting Mississippi’s Families

April 1st, 2008

Predatory lending can trap borrowers in a cycle of high interest payments, abusive fees, unreasonable terms and penalties that often lead to foreclosure. Lawmakers across the nation will reevaluate mortgage laws in the midst of a subprime lending crisis that is causing a record number of foreclosures throughout the country, and Mississippi legislators must enact laws that will continue to grant families access to homeownership while ensuring that those families will be able to maintain the homes they purchase.