Dear Jane Doe (whose comment is posted below),
It amazes me to see how far consumer ignorance goes. If you sign a loan that has a "baloon", "arm", or "interest only" in the description, you'd think the consumer would be smart enough to know what they are getting into. Lenders are required by law to disclose all the details of the loan, so all of those details are known by the buyer going into the contract. If a home buyer is too ignorant to do their homework, then they shouldn't be buying a house to begin with. At some point, you can't blame banks anymore and lack of personal responsibility and accountability are the real issues.
Jane Doe says:
This company is what they call a predatory lender. They go after people with no regards to whether they can afford this loan. Even if it didn't make sense to do the loan they would do it anyways and charge the borrower serious money in junk fee's and steal the borrowers of all their equity. They knew how to manuplate the lenders they sold their loans to in order for them to be brought. once they made their money on the front and back end you never heard from them again.