Nov 12, 2006

Habitat for Humanity hustlers

Habitat for Humanity is helping the underprivileged into home ownership. However, freewheeling lenders are taking advantage of the financially naïve.

Habitat families are able to buy their homes for much less than full market value.

A decade of rising prices has made them wealthier--on paper.

At the same time, many are strapped for cash and unsophisticated about credit. For freewheeling brokers and lenders eager for refinancing business, the combination couldn't be better.

Naïve Habitat borrowers have targets on their backs and hustling lenders are taking advantage.

More of the story here.