New York bill would outlaw predatory lending practices
By JOHN MILGRIM
Ottaway News Service
"ALBANY, N.Y. — If truth in advertising required full disclosure, many recent home equity loan offers might say, "Congratulations! You're a qualified sucker," advocates for homeowners and the aging charged Tuesday. " "A booming home-equity loan industry proliferating in New York State has caused some people to lose their homes, and others to pay two to three times the interest rates they would otherwise qualify for, according to the groups.
And it's all legal. "
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