7th, constant refinancings, otherwise »loan turning,» and therefore unnecessarily enhance the financing balance and you will reduce equity should never be appropriate
5th, loan providers must avoid using mistaken or misleading sales and you may selling strategies that induce users to go into mortgage plans they cannot manage.
Eighth, greater perform can be performed to educate people regarding borrowing from the bank. Including, consumers should be able to easily understand you to a drop from inside the its payment per month may well not result in due faster across the long term, and may even, actually, increase their total costs. (más…)