Posted on: 08th Aug, 2009 10:12 am
How are ACORN fighting predatory lending?
They helped to create the sub prime loan mess.
ACORN means the Association of Community Organizations for Reform Now.
Through national campaign they are doing to limit predatory lending.ACORN established in 1970 and they have several branches in US, Canada, Argentina, Mexico, Peru and the Dominican republic.
ACORN campaigns target achieving social responsibility like better housing, better education, higher safety level, more affordable health care. One of the most recent ACORN campaigns targets predatory lending.
Preditory lending become one of the concern for ACORN.
ACORN promotes more restrictive legislation to lenders and better homeownership education to borrowers.
ACORN is functioning to protects Low Income And Minority Households.
Lenders may sell more dangerous loan to borrowers who have no understanding of home buying transactions. ACORN members have been trying to limit harmful predatory lending practices. ACORN identifies such lenders and demading them for more stricter regulations to lending practices.
Members of ACORN are trying to offset the effect of predatory lending by increasing public awareness and education regarding home loans. ACORN also involve in distributing information in the society about preventing and avoiding foreclosure, identifying mortgage scams and how to seek help in case foreclosure is on the way.
Through national campaign they are doing to limit predatory lending.ACORN established in 1970 and they have several branches in US, Canada, Argentina, Mexico, Peru and the Dominican republic.
ACORN campaigns target achieving social responsibility like better housing, better education, higher safety level, more affordable health care. One of the most recent ACORN campaigns targets predatory lending.
Preditory lending become one of the concern for ACORN.
ACORN promotes more restrictive legislation to lenders and better homeownership education to borrowers.
ACORN is functioning to protects Low Income And Minority Households.
Lenders may sell more dangerous loan to borrowers who have no understanding of home buying transactions. ACORN members have been trying to limit harmful predatory lending practices. ACORN identifies such lenders and demading them for more stricter regulations to lending practices.
Members of ACORN are trying to offset the effect of predatory lending by increasing public awareness and education regarding home loans. ACORN also involve in distributing information in the society about preventing and avoiding foreclosure, identifying mortgage scams and how to seek help in case foreclosure is on the way.
Merry, like I said....they helped to create the sub-prime lending mess.