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    i have a mortgage and my interest rate is 13 % is that preditory lending

    0  Views: 583 Answers: 2 Posted: 14 years ago

    2 Answers

    It depends on when you "took out" your mortgage.  There are periods of time when it was that expensive to borrow money for a home.  Credit cards have interest rates of up to 25%.


    You might want to talk to a mortgage broker/lender and see about refinancing your loan. You should be able to find someone who can buy out the loan you have for a discounted amount and carry your loan for less interest.  It's a win-win-win. 

    13% is insane, I only pay 4.4%. change your mortgage provider asap. :-)



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