Questionable refinancings may be costing veterans big money

Source: Kenneth Harney, Washington Post (Paid Registration)

Federal officials plan to crack down on what they view as predatory lending schemes — reminiscent of the toxic practices seen during the housing boom — targeted at thousands of veterans nationwide who have VA home loans.

The abuses involve serial refinancings that generate hefty fees for lenders and loan brokers but leave borrowers in worse financial shape than they were before the transaction.

Read Full Article: Questionable refinancings may be costing veterans big money

 

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