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What are the goals of the Anti-Predatory Lending Database Program?

April 26, 2017anti-predatory database goals lending program

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What are the goals of the Anti-Predatory Lending Database Program?

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The APLD is designed to increase borrowers’ knowledge about loans they are considering and to reduce the number of foreclosures resulting from inappropriate loans. The database will collect information about mortgage loans in Cook County and determine whether or not each particular borrower needs to attend housing counseling provided by a HUD-certified/approved housing counselor. Effective 07/01/2010, three additional counties – Kane, Peoria, and Will – are being added to the program area.