The Prosecution Won’t Rest

Washington law group fights housing discrimination

co-council Attorney Jeff Robinson of Baach, Robinson & Lewis, Washington, D.C. “Balloon notes are legal. The predatory aspect comes in when the loan company fails to disclose that the loan is in fact a balloon loan, when people don’t understand what they are signing, and they don’t realize that after a period of time they will have to either come up with all of the money or lose a property which has substantially more value than the money they borrowed.”

“The best defense is awareness,” Colfax offers. “If you know that this can happen, then you would naturally look more carefully at what kind of loan you’re going to get.” (See Consumer Life “Mortgage Maneuvers,” Shopsmart, February 2002, for information on avoiding scams

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