Homeowners - If You Think Your Loan is Unfair...

Dear Friend,

Owning a home is one of the biggest financial decisions you'll ever make. It is also one of the hardest decisions. Even when you deal with a good mortgage lender, our banking system can be confusing.

Sadly, a few lenders also abuse the system. Predatory lenders prey on people who are unfamiliar with bank loans. They trick people into paying unnecessary fees and high interest rates. Victims of predatory lending are usually low to middle income families who face the loss of their home through foreclosure.

We want to ensure that everyone in Seattle receives equal treatment when buying a house. These rights are guaranteed under the Federal Fair Housing Act and our local fair housing laws. That's why the City of Seattle's Office for Civil Rights has produced a consumer packet on predatory loans, FAIR LOANS-FAIR HOUSING - Your Guide to Avoiding Predatory Loans. This web site has been drawn from the contents of this consumer packet and contains information on:

• Illegal discrimination
• How to avoid predatory loans
• What you need to know about home loans
• Where to find a free mortgage counselor who can give you honest advice
• A glossary of common banking terms
• A tool to help you calculate your loan fees

Whether you're buying your first home or refinancing, this information can help you receive fair, unbiased treatment.

Sincerely,

Greg Nickels, Mayor
City of Seattle

Germaine W. Covington, Director
Seattle Office for Civil Rights

For more information, contact the Seattle Office for Civil Rights at (206) 684-4500 or check the web at www.seattle.gov/civilrights.