Unmasking the Predatory Loan in Sheep's Clothing: A Legislative Proposal

Abstract

This article identifies the four basic features common to a "predatory home loan," explains how and why the federal legislative response was ineffective, and proposes and details a model federal mortgage counseling intervention law which would address each of these predatory home loan features. The article also summarizes other useful reform proposals and explains how mortgage counseling would be an important proactive protection to home loan borrowers that should be considered in addition to these other important reform ideas.