A brand new Bill in Congress Will Make Mobile Phone Mortgages Even More Predatory

A brand new Bill in Congress Will Make Mobile Phone Mortgages Even More Predatory

The next day, the House of Representatives will vote for a bill that could enable workers at manufactured home retailers—who sell houses usually called homes that are“mobile or “trailers”—to guide customers towards certain loan alternatives. The Senate Banking Committee will vote on a comparable proposition on December 5.

It’s a bill that is wonky plus it’s flown underneath the radar up to now. But—particularly provided the governmental war being waged during the customer Financial Protection Bureau—it shouldn’t get hidden. Significantly more than 1 in 10 houses in rural or small-town America had been built in a factory, plus they are often owned by older, poorer Us americans. (more…)

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