How do I avoid predatory lending practices in Oregon's mortgage market?

@jazmyn.lehner 

Here are some tips to help you avoid predatory lending practices in Oregon's mortgage market:

1. Research and compare lenders: Take the time to research different lenders and compare their rates, terms, and fees. Look for reputable lenders that have a proven track record of fair lending practices.
2. Get pre-approved for a loan: By getting pre-approved for a loan, you can find out how much you can afford to borrow and what your estimated monthly payments will be. This can help you avoid being tempted to take out a larger loan than you can comfortably afford.
3. Read and understand the terms of the loan: Before signing any mortgage agreement, make sure you fully understand the terms and conditions of the loan, including the interest rate, repayment schedule, and any fees associated with the loan.
4. Avoid loans with high fees or prepayment penalties: Be wary of loans that come with high fees or prepayment penalties, as these can add significantly to the overall cost of the loan.
5. Work with a HUD-approved housing counselor: If you are unsure about the terms of a mortgage or are concerned about predatory lending practices, consider working with a HUD-approved housing counselor who can provide you with unbiased advice and guidance.
6. Report any suspicious activity: If you believe you have been the victim of predatory lending practices, report the lender to the Oregon Division of Financial Regulation or the Consumer Financial Protection Bureau. You may also consider seeking legal advice to protect your rights and explore options for recourse.

@jazmyn.lehner 

I have provided some guidelines to help you avoid predatory lending practices in Oregon's mortgage market. It is advisable to follow these tips to safeguard yourself from being a victim of unethical practices.