Coalition calls for predatory lending legislation to protect minority homebuyers

April 25, 2006
An elderly homeowner, sick in the hospital, signs for a consolidation loan to pay her mounting medical bills. Too late, she discovers she's fallen victim to a lender who preys on minorities, women and the elderly desperate to find a way out of rising debt. She loses her home.
     According to experts, homeowners lose an estimated $9.1 billion each year as a result of predatory mortgage lending practices.