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Loan Flipping This, in general, is the practice of a lender to keep getting you in to a new loan to continue to charge you fees every time that the new loan is issued. Eventually, even though your rate might be lower, you have paid so much in fees that you have less money than you started with and your payments are higher! |
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A lot of the information on this site was taken from the FTC. Some of it copied directly. If you want, call them at 1-877-FTC-HELP |