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We investigate and assist consumers with complaints about discrimination in housing. That includes discrimination in loans to purchase or refinance a home.
Sometimes predatory lending loans target protected classes and for that reason we are concerned about some terms and conditions of the mortgage loans.
Some of those practices could lead you to take a home loan you can not afford and therefore lose your house and savings.
Some of the signs that, when taken together, can indicate that you may be a victim of a predatory loan:
• feeling pressured to close the loan
• loan terms or a type of loan that is different than what the lenders had initially put forth
• receiving loan documents written in English when the terms of the loan were discussed in another language, for example, Spanish.
• loans with higher payments than what the borrower said they could afford
• high interest rates
Sentinel is partnering with other local non-profit agencies in Oakland to stop these practices. We have participated in the San Francisco Public Federal Reserve Hearing under the Home Ownership and Equity Protection Act. Along with some other non profit agencies in California, we signed and sent a letter to the Federal Reserve urging to take action.
You can read the letter here .
Additionally we are organizing workshops / loan review clinic events. At these events, you will have an opportunity to learn about potential problems you may have with your current home loans as well as hear more about your legal rights in connection with taking out mortgage loans. You will also get a chance at the end of the workshop to speak one-on-one with a counselor or an attorney about your personal loan situation and documents as part of an accompanying loan document review clinic.
Call Sentinel for places and dates of upcoming clinics
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