can someone please tell me the history of loan consulting today.?

Question

or at least give a website that has info. on the history of loan consulting.

Answer 1

In the old days, people would go to their local bank to get a loan. Then as the lenders got more sophisticated with the internet, phones, and credit checks, they found that they could lend to people all over the country by getting credit checks and personal information quickly.

In most cases, lending hurts the people at the bottom of the economy, because they get taken advantage of and they overpay on loans. In addition to that, they get lots of little loans that they can't pay back.

Loan consulting came about to sometimes help and many times hurt people who are already in trouble with their credit, because they deal in areas like:

First time home buyers • Interest Only Loans
• Home Improvement • No Income Verification
• Cash Out for Any Purpose • 100 percent financing
• Imperfect Credit Loans