Contract knavery
Definition
Inserting provisions into a loan contract that severely disadvantage the borrower, without the borrower’s knowledge, and sometimes despite oral assurances to the contrary. Prepayment penalties are perhaps the most frequently cited subject of such abuse. Read What Is Predatory Lending?
Related Terms Other terms related to 'Contract knavery' starting with the letter 'C' Conforming mortgage, Credit report, Closing, Cash Flow Option Loan, COSI Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 