To: The Missouri State House, The Missouri State Senate, and Governor Mike Parson
Stop predatory lending practices in Missouri!
Predatory lending has reached ridiculous and unfair proportions in Missouri. The citizens of Missouri want to see legislators start to fight this economic plague. A good starting point would be enacting interest-rate limits so lenders can no longer use the tactic of simply raising the borrower's rates until they are completely unbearable only to seize the property to turn around and do the same thing to the next person who tries to buy it. This unfair, predatory practice should no longer be tolerated.
Why is this important?
This petition is to encourage State legislators in Missouri to set a limit on interest rates for home loans, to help reduce predatory lending practices. Two of my siblings- hard working people who pay their bills on time and always have- lost their homes within the last two years, due to their lenders raising interest rates. And raising them, and raising them again. Until the payments became so ridiculously high that they had no hope of paying off the loans, at which point the lenders seized and kicked them out of homes they had been faithfully paying on for YEARS. This has to stop!