Contract Chicanery

Contract Chicanery

Inserting provisions into a loan contract that severely disadvantage the borrower, without the borrower's knowledge, and sometimes despite oral assurances to the contrary.

Prepayment penalties are perhaps the most frequently cited subject of such abuse. See Prepayment Penalty/Surreptitious Penalties.

The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
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By far the best example of contract chicanery is not in fact a Scot.Step forward Robbie Savage.
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