Spot light on Consumer Credit Obstacles

The crash of the housing market has made many homeowners skeptical about purchasing again; especially those homeowners who were sold sub prime mortgages and have now lost their homes or are in foreclosure and underwater. 

The major challenges for most consumers today is determining how not to get in tangled with companies that may false advertise. Deceptiveness in marketing, debt traps and discrimination are only some of the issues that face consumers on a daily basis.

When the housing bubble burst and the dirty laundry of the banking industry reared its ugly head, did the government finally take action and started to investigate mortgage practices.  Many mortgage brokers, mortgage bankers misrepresented home mortgage loans to many consumers.

From stated income loans with disclosing false income on mortgage applications to creative loans such as the pick a pay loan with four mortgage payments you could choose from on a monthly basis to sub prime loans with either teaser rates, or prepay penalties.  These are only some of the most common mortgage loans sold to consumers who had no idea what kind of loan they were getting. 

As more and more homeowners struggle across the county and seek assistance from other sources to help them with their financial woes’, has only lead them to be further at risk increasing debt.  Pay day loans have become very popular and can have some serious credit and financial setbacks for a consumer but now Payday loans are monitored on a Federal level. Providing full disclosure of services to consumers is still not enough to help protect the average consumer.  So how do we go about fixing this issue?

Knowledge is power and unfortunately, the average consumer is clueless and defenseless when it comes to knowing how to avoid scams.  We are not talking about just small companies preying on the uneducated, but larger corporations such as the mortgage industry and credit card companies.  Mortgage servicing in the past few years has been under the spotlight, because of the housing bubble and causing our government to set into place regulations for these types of companies. 


The Consumer Financial Protection Bureau efforts have been making some headway as to educating consumers and assisting some with getting money back from companies who have violated their rights.  Education is the only way to really put a stop to any sort of discrimination, miss leading advertising and debt traps.

Titan List is a full service Advertising and Design agency specializing in Direct Mail, Mortgage Marketing, Search Engine Optimization and Website / Graphic Design. Titan List has been around since 1998, and has a team of highly qualified individuals with experience in the marketing trends that fit your business. Unlike other agencies that source their work out, Titan List & Mailing handles the entire campaign in-house - Data Lists, Design, Printing, Mailing, and Postage.