Question:

How are ACORN fighting predatory lending?

Answer:

ACORN are the Association of Community Organizations for Reform Now. ACORN are trying to limit predatory lending as much as possible through a national campaign. Established in 1970, ACORN spread over the US, Canada, Argentina, Mexico, Peru and the Dominican republic. They are an organization of low and moderate income families uniting for a stringer society.

ACORN campaigns target achieving better housing, better education, higher safety level, more affordable health care. One of the most recent ACORN campaigns targets predatory lending.

Predatory lending has become a concern to the ACORN organization as homeownership has become a nightmare. To curb predatory lending, ACORN promotes more restrictive legislation to lenders and better homeownership education to borrowers.

ACORN Protects Low Income And Minority Households

Predatory lenders find it easy to sell expensive and dangerous loans to borrowers who have little or no understanding of homebuying transactions. ACORN members have been trying to limit harmful predatory lending practices by identifying predatory lenders and demanding stricter regulations to lending practices.

Additionally, people from ACORN are trying to offset the effect of predatory lending by increasing public awareness and education regarding home loans. ACORN also involve in distributing information about preventing and avoiding foreclosure, identifying mortgage scams and how to seek help in case foreclosure is on the way.

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