Press Releases
MAYOR LOWERY TAKES ACTION AGAINST PREDATORY LENDING
In an effort to protect Florissant homeowners from becoming victims of the increasing number of foreclosures in the Metro area, Florissant Mayor Robert G. Lowery, Sr, .has designated his Housing & Community Development staff to participate in the Metro St. Louis Foreclosure Prevention Task Force. The Task Force in partnership with the Homeownership Preservation Foundation has established a hotline for homeowners that need assistance with refinancing predatory loans or with repairing their credit scores. The hotline number is1-888-995-HOPE.
As the number of lenders offering programs with “no money down” or “bad credit – no problem” loans continues to rise, homeowners remain at risk. The legislature has continued to ignore this problem so it is up to local officials to rise to the challenge. “Someone has to do something, this type of predatory lending cannot continue” Lowery stated.