Philly offers alternatives to predatory lenders
Philadelphia Mayor John Street launched three loan programs Monday to help residents avoid predatory lenders. According to the Philadelphia Inquirer,
Philadelphia Mayor John Street launched three loan programs Monday to help residents avoid predatory lenders. According to the Philadelphia Inquirer, the city is providing $750,000 in loan-default protection to eight banks that have agreed to participate in the programs. The PHIL-Plus program will allow residents to borrow up to $25,000 for 20 years for home improvements and debt consolidation. The Mini-PHIL program will offer loans up to $10,000. A Home Equity Loan Preservation Program will allow people who have fallen prey to predatory lending to refinance their homes. For more information, visit http://www.philly.com/mld/inquirer/news/local/6206772.htm.
Tags: