Certainly! When a lender engages in deceptive actions to trick a borrower, it is considered predatory lending. Predatory lending practices can include misleading terms, high interest rates, or hidden fees that can exploit borrowers and lead to financial harm. This type of lending preys on vulnerable individuals who may not fully understand the terms of the loan.
Examples of predatory lending practices include lenders not fully disclosing the terms of the loan, pressuring borrowers into taking out loans they cannot afford, or charging exorbitant fees. These actions can trap borrowers in a cycle of debt and financial instability.
It's important to be aware of predatory lending practices and to carefully review all terms and conditions before entering into any loan agreement to protect yourself from potential harm.
