Us communities are far more most most likely than many other borrowers to receive loans which contain a prepayment penalty

Us communities are far more most most likely than many other borrowers to receive loans which contain a prepayment penalty

Now, the middle for Responsible Lending unearthed that borrowers staying in predominately African US communities tend to be more most likely than many other borrowers to get loans containing a prepayment penalty, a fee that is expensive for paying down the loan before its deadline. This research managed for other key factors, such as for instance creditworthiness, which may influence whether a loan provider imposes a penalty. Read more